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: My guess
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"If they [RCF] receive quarterly share interest at the end of September and again at the end of December, that puts them dangerously close to 20%.

If they ever exceed 20%, they must legally launch a take-over bid,..."

From a foggy memory.    There was a vote a long long time ago when NOT negotiated the loan with RCF where the NOT shareholders voted to waive this requirement for RCF because executing the loan would have triggered the 20% requirement.

 

I'm sure someone can dig up the actual wording of the resolution.

 

... Been There

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