I'll make a second stab at this, as the first time I suggest this in late August my post lasted less than 2 min.
Windfall for all intense and purpose is gone
As anticipated even during the preparation of the MD&A (ending April 30/08.)
"The primary focus of the Company is ........the Ring of Fire area ......"
"The Company is planning to continue drilling at the site of its Eagle ....."
In light of the Company’s recent discoveries at the Double Eagle Project, Noront’s focus is shifting away from ........"
"Management’s intent is to expand Noront’s controlling interest in additional prospects ...."
" management of Noront anticipates being able to separate its assets that are outside the Ring of Fire area so as to finance........"
What I Know, IMHO
By mid August, a deal was struck in principle re: Windfall
I cannot name the suitor, or be too specific, but i believe you will find the scenario will play out like this:
I Like it because at our depressed share price the market will not even notice our gold mine is half gone, and we can begin the second stage....in the ROF
-
to be announced at the AGM
- completed before the New Year
- 40 - 50% of Windfall "spun off "
- loss of operational control, windfall
- will remain in NOT portfolio
- serious cash involved, in excess of 100 extra extra large now, and additional funds in the future
Hg
