This was posted on TCC by Rosedales,
Noront MD & A
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It appears to me that there is a campaign to persuade retail holders to sell Noront shares and purchase freewest shares. This seems to be based on the idea that because a director of Freewest is joining Fancamp, and because KWG are looking at the viability of a railroad it's all jam and six bucks tomorrow.
Whatever. I suspect there is a PP planned for Freewest in the near future. 40 cents with flow thru is my guess.
However, some of the main proponents of freewest, some who purport to be geos for other companies and 'in the know' are seriously transgressing the truth when they speak to retail about the noront MD&A.
They seem to be suggesting that the severance of 850K and 862K in Q2 and 3 2009 were paid to the co CEO's Parisotto and Hamilton. Not true. Q2 and 3 were paid to Nemis and the crew that was ousted with him.
He made sure that he got a golden handshake. And fairly so.
The payment of 1500K in Q1 2009 including 600K of shares (not cash) was paid to the leaving CEO's, Mungall, Novak and others. Was this fair ? Well to Mungall and Novak no doubt, as for the other two I expect the steam off their pss would be too much for retail to relinquish, but again - whatever.
Perhaps retail reading the MD&A would be better to look at the 'positive' aspects of the MD&A including the arrival of two deep drills this quarter.
The deep drills are already there.
I am very conscious of an effort to move Noront shareholders to Freewest to boost the price to a decent PP level. I have no problem with people doing this, but would like everyone to at least understand the MD&A.