latest rumors

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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khareema

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latest rumors

posted on Nov 20, 2009 01:13PM

Well, it appears I have made an error. The latest rumor I have just received is that there actually is a 3rd party nogotiation going on, and it does not include NOT. The story I have heard is that there was going to be an offer for the ROF properties, based on .60 /share, which FWR would accept.

However it appears that 2 large shareholders have jumped ship. In light of the latest news, they have opted to pledge their shares to NOT, rather than this 3rd party, and that apparently changes the whole game, as it could give NOT as much as 53% on the first closing of Dec 01. As the SRP will be waived after that date, NOT could opt to take up that amount of shares and gain control of FWR. NOT is apparently reconsidering their offer for all of FWR, and are now thinking that they will realign the offer to be 5 for1 for the ROF assets only, and leave FWR with it's other holdings.

The above information comes from an unknown source (by my standards) whose reliability is unproven. As such it should not be considered for investment purposes. I post it here simply because it is the first real rumor I have heard in quite some time.