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)

Free
Message: Baosteel?
Reply New Message
Prev Message Back To Forum Threaded View Next Message

Two points.

Because the period to acquire up to 19.9% expires at the same time as the warrants Baosteel is limited to a maximum of 19.9% until May 2013. The impact of the warrants would be on NOTs treasury.

Its not clear who the standstill agreement is binding on. My grammatical read of the sentence is that they Baosteel has been granted a standstill agreement which would imply that it limits what NOT can do. That would make sense if Baosteel wanted to see its dollars put in the ground before they had to decide about a follow on investment. Not already ties up Baosteel to a maximum of 19.9% until May 2013.

Lots of guessing here.

4 Recommendations
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply