Re: When did the PP become a "done deal"?
in response to
by
posted on
Feb 06, 2008 07:24AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
You have to understand that the offer of PP is a legal undertaking that is binding upon Noront. They made an offer (or accepted an offer), legal papers back and forth etc.. Now the agreement, just like the sale of a house, has a closing date which was set to be on or before today. On closing the buyer pays his money and gets issued his shares.
The only thing that would screw up the deal would be if the buyer failed to pay the money and in that case it's likely Noront could sue them for not completing the deal.
If Noront decided prior to closing that, we won't accept your money or issue shares you can bet your last dollar they would be sued and forced to complete the signed agreement.