December 5, 2009
The Freewest Resources‘ (FWR, TSX-V) board of directors are rapidly losing both the rationale and the public relations war in recommending to their shareholders not to tender their Freewest shares to Noront Resources (NOT, TSX-V) and instead accept the 90 cent per share all-stock offer from major Cliffs Natural Resources (CLF, NYSE)…Noront is hitting hard at Freewest’s management and board, and striking with almost surgical precision…to use an analogy, if this were baseball, Freewest President and CEO Mackenzie Watson has just received a knockdown pitch – a 100 mile per hour Nolan Ryan fastball high and inside, with a nasty curveball on the way…Noront reiterated yesterday that its latest offer for Freewest is indeed its final offer, and we suspect Noront will let its share price do the talking next week…Freewest needs to pull a rabbit out of the hat in a hurry, and that means a better offer from Cliffs…we will elaborate in much more detail in an article we’ll be posting Monday morning prior to the market open…
I will post the commentary update to the forum as soon as it is available on Monday for everyone. The upcoming week is going to be very exciting. Good times in the ROF! Take care all!
