Agoracom: Small Cap Investment - Noront Resources - Re: NEWS - Noront Update and Flow-Through Financing

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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Francis Dube

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Re: NEWS - Noront Update and Flow-Through Financing

in response to

NEWS - Noront Update and Flow-Through Financing

AGORACOM

posted on Nov 11, 2008 12:46PM

This portion:

Options to acquire an aggregate of 1,800,000 common shares have been granted to the six directors of Noront, at an exercise price per share of $0.80. The options are exercisable, upon vesting, until November 10, 2013 and vest upon the later to occur of the following: (i) the weighted average trading price of Noront's common shares for ten consecutive trading days must exceed 120% of the increase in the S&P/TSX Venture Composite Index from the date of grant, and (ii) the weighted average closing price of Noront's common shares for ten consecutive trading days must exceed the exercise price of the options by 125%.

is more complicated than it should be imo and is made to vest as late as possible...hummm, I guess this confirms our suspicions of this new board. Well at least it is out for everyone to see. I look forward to opinions on this EXPECTED PP.