Re: BIM...23%; NOT,21%; RCF Lockup Agreements

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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Babjak1

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Re: BIM...23%; NOT,21%; RCF Lockup Agreements

in response to

BIM...23%; NOT,21%; RCF Lockup Agreements

cupcake

posted on Apr 07, 2019 08:05PM

Cupcake

Below are my thoughts on Baffinland.

-Exxon was the holding that made the Rockefellers their fortune.

Lee Raymond was the CEO of Exxon.

His son, John Raymond is the founder and majority owner of EMG (Energy and Minerals Group)

Nunavut Iron was a , a subsidiary of Energy & Minerals Group

Two links to read below

https://www.theglobeandmail.com/globe-investor/arcelormittal-snags-baffinland-for-433-million/article1315768/

https://corporate.arcelormittal.com/news-and-media/press-releases/2011/mar/26-03-2011

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Wilbur Ross, who was senior managing director at Rothschild, New York was also, a non executive director at Arcelor Mittal

Wilbur Ross left Arcelor Mittal when he became Trump's Commerce Secretary.

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Baffinland was around $4.00 per share in it's glory days and many were bitter about the buyout at $1.50 per share. (433 million) completed in March 2011.

To me this was a good cop -bad cop routine. The two bidders on the same team.

"you go in at 80 cents and they'll be happy when I give them $1.50."

The folks that averaged down a lot, did ok and were actually lucky to get $1.50 when looking forward into a crystal ball.

It was 3rd quarter of 2011 that Goldman Sachs reported China's slowdown and their OVERSUPPLY of iron ore. I still remember Goldman sachs pointing out Cliff's ...unfortunate position and then the rash of hedge funds that went into Cliffs.

Check out Cliffs natural resouces market cap history. Look at July 18,2011 (12.78 billion dollars)

before the Goldman..."watch out below" speech.

https://www.macrotrends.net/stocks/charts/CLF/cleveland-cliffs/market-cap

January 11, 2016 Cliffs market cap was ....240 million. (no joke)

A company that went from 12.28 billion to 240 million.

What would Baffinland have been worth in Jan. 2016?

Shareholders were lucky to recieve $1.50 and get out before Iron ore plunged.

check out the price of iron ore when Baffinland was sold and then look what happened after.