Re: Non dilutive financing (Noront NR summary more clear)
in response to
by
posted on
Dec 05, 2012 05:25PM
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)
I guess that if the merger is completed, it will become a lot easier because Maudore will then automatically own the 75% interest in Windfall... Hence the reference to a 'direct or indirect' acquisition in the NR. And Noront will happily increase its stock position in EAG trough the merged entity. Overall it looks like an important transaction, a 35MM$ private debt financing is not easy to arrange these days, and there is also a 3,25MM$ loan involving actual shareholders to keep the head up in the meantime. One can easily suspect that some due diligence did confirm to these investors the very high expectation of the Windfall property. Good to see Noront tagging along the project with a good chunk of equity participation in the deal... GLTA