If I may, I would like to post what spells it out, I think. The entire post by Hoov, is excellent , as it addresses each one of Rosseau's 'loose' statements. I suggest that everyone, read it again and pass it on to others as well.

Thank you Hoov. Here is the closing statement to this great post....

"Frankly, I haven't been persuaded that any one argument they've raised has validity, let alone the lot of them. However, let's move on to consider the nominees for board positions.

Let's see, four of them come from Aurelian. Hmmmm, seems they're out of work right now, after selling out their company for a 60% premium over a massively depressed SP. I guess I know what they're good at.

Another guy is a director from Temex, which seems to be involved in a large number of JVs in the ROF. Some of them with Noront. Now that would be a change, wouldn't it?

And a couple of others who are willing to resign if more qualified people can be found.

Honestly, not one of these nominees holds a candle to the men we've already got. They're openly seeking a couple of better qualified directors. And they don't have a president in mind, to give life to their "vision". And this is somehow an improvement?

Bottom line, the choice seems to be between breaking up Noront and flipping the ROF claims, or taking the longer road to higher values. Rosseau claims to be willing to do things that existing management has already dedicated themselves to accomplishing, so what's new there? Apart from these "commitments", they offer nothing but platitudes."