Re: STIFEL Report dated July 26,21
in response to
by
posted on
Dec 16, 2021 02:48PM
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)
My post was not to imply you were trying to mislead. Think it is important that where there are facts that are contrary to published comments that they be included. There's a lot of info that has been provided since the first offer by Wyloo and think it best that facts not get overridden by expectations. Like the saying goes, you're entitled to your own opinion but not your own facts.
The reality is I don't know anything more than anyone else here only what has been published. I'm retail too and would certainly like to get the best price. Going from roughly $.28 to now $1.10 is a huge price appreciation in less than a year when nothing really changed on the ground. Do I think some of the suggested prices are unrealistic. Yes, but I'm not going to say they are wrong cause I could be. The Stifle valuation as far as can ascertain is based on current and historical comparables and multi-year future projections of mineral values by respected sources established from a point in time, the date the valuation is done, July 2021. What happened after that or what may happen in the years to come are not really pertinent. The buying value is established on that day.
Much has been said, mostly negatively, on this board about the Stifel but has anyone heard anything from the industry that it's out of whack?. As far as I can see Stifel is a respectable and respected entity that does these kind of valuations regularly. Did Noront and the BOD, who have a fiduciary responsibility to shareholders, reject the valuation? Wouldn't one think that they,in their own self interest as well, if anyone would want a higher valuation which would have required Wyloo and BHP to offer a higher price. Any of the major shareholders? Noront doesn't have a producing mine. Hell they don't even have a mine. They have mineral claims..that's it.
As I've said before imo this BHP/Wyloo contest is pretty much over one way or another. Wyloo with over 1/3 ownership in Noront has the upper hand. BHP pays Wyloo's price or goes away and focuses on it's existing properties in Canada and looks to expand their footprint elsewhere. If Wyloo won't back down from BHP then even if a 3rd party enters the spree don't think they'll back down from them either. They would still hold the controlling interest.
But as I said. I don't know anything more than anyone else on this board.