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: FP/wire say Noront reaffirms support for BHP takeover

FP/wire say Noront reaffirms support for BHP takeover

 

2021-08-23 08:17 ET - In the News

 

 

The Financial Post reports in its Saturday, Aug. 21, edition that Canadian nickel miner Noront Resources has reiterated support for a takeover by BHP Group after its largest shareholder, Australian mining magnate Andrew Forrest, tried snubbing the deal. A Bloomberg dispatch to the Post reports that Noront Resources said Friday in a statement that its board continues to recommend that shareholders accept BHP'S cash offer that values the company at $325-million, a day after Mr. Forrest's Wyloo Metals said it would not sell its shares to the world's largest miner. Wyloo Metals, which owns about 25 per cent of Noront and holds a convertible loan that could lift its control to 37 per cent, said it would consider making a superior offer. Noront has been developing potential mineral reserves in Northern Ontario's Ring of Fire. Noront said success of BHP'S offer does not require Wyloo's support, according to the statement.

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