I follow with interest what is going on from my my last year purchase of NOT @ 78¢ and FWR @ 28¢.. (though my main holdings remain in KWG/SPQ/UC). After some reflexion, and listening to the last conference call, I have concluded on a couple of things , and finally made my mind as to what I will do with my FWR shares. I called my broker right after the podcast and ordered the Option B of the Noront Circular.
First, if I would be prepared to accept Cliffs' offer @ 90¢, I would be selling right away @ 88¢, and aplly the capital gain against my many 2009 taxes losses . So, why waiting in January? To take a chance that some pennies would be added to the pot? I feel OK with the 50¢ extra! I'm not a "Sticking to my stock" guy. "Cliffs offer is real money, Not's is volatile" Mac claims. I just have to sell right now, I don't want shares in Cliffs...
Second, I feel NOT offer is the best way to achieve my goal, that is staying at play on ROF field, with a small, but dynamic and well-funded company, plus a surprisingly sound and clever management (I used to be somewhat frigid about Wes and friends, but my mind changed in the course of the last couple of months - Mac and friends took the opposite direction in my mind, esp. following today's conf.call). I will increase my position in NOT, with no tax triggered! Good for me. Do I want to hold CLF? No. I d rather sell for loonies than for a US Corp. share certificates!
Third: the woomp factor. Goliath from the other Country will be the King of North America Chromite? Boring and deceiving! Nahh! I very much prefer fellow David to beat them all (Aadastra may be in David's back, but I prefer David anyways...).
Finally, being loaded with KWG/UC/SPQ, and seeing how cheap is Cliffs in this deal (adding pennies just to cap NOT), I feel that I will be richer with NOT leading the way. I'm not in a hurry, though, I will be more than happy with all my ROF shares consolidated in 2-3 years in NOT or another merged sister corproation. Is it impossible that NOT may succeed in its dream to smelt someday? I love the adea of this David and Goliath exciting game.... Heu... Who managed to win the fight, by the way in the real story....?
BB
