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: The problem with a NOT new offer
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The problem with a NOT new offer

posted on Nov 26, 2009 11:20AM

The problem with NOT offering up, let's say, a 1-4 share swap and allowing FWR to split off their other assets is that you can't make Mac join the new FWR. Remember if Mac were to agree to a NOT deal before the Cliffs deal fell through it would invoke the $6 million penalty to Cliffs.

So if NOT did this it would really be for the share holders not MAC. But the split would be done under NOT's control not Mac's. After the deal was done I guess NOT could always offer Mac a job.

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