HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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Message: Why this proxy fight?
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Oct 20, 2008 06:37AM
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Oct 20, 2008 11:58AM

Think about all the cash Noront has in their war chest earmarked for proving up ROF resources. Forget about Windfall for the moment because that money came from earlier private placement.

My honest belief is that Rousseau and the others who invested major dollars into Noront think of Noront's cash holdings as somehow being theirs. They see it being shelled out week by week and yet the share price suffering a dramatic drop in price.

Sure they're upset, darn it so are most of us as we see our paper loss over the $7 high (OK maybe we averaged down/up and sit in the $4/$5 range). Unlike almost all of us however they want a scrapegoat to pillor and that seems to be Dick Nemis.

Now maybe Dick Nemis's average cost per share is way lower than your's or mine but at least we can sell a few shares here and there while if he does everyone points a finger. Fact is that Dick is in the same boat with the rest of us except holding onto more shares worth a fraction of what's reasonable.

Those attempting to take control of Noront are doing so for deeply personal reasons not applicable to we 'retail' investors. If it's them vs us I know who I want to win.





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