Another though Milsy is that the market believes NOT is over paying for FWR and is voicing their mecontentement by selling off. If NOT does raise their offer, (I do not believe they will do this) we may see more selling of NOT as many cannot see why NOT is even paying 4-1, especially if our Nickel value is going up.

However, if NOT just cancels this take over if 66 2/3 is not attained, I believe NOT will rebound, (especially if our Nickel has increased) and FWR will fall hard. As of now, I have no shares of FWR as I do not believe a second offer is coming. So either this deal happens as is (ie 4-1) and I lose on the current ratio or the deal is dropped and FWR drops hard. So for me, there is little advantage in holding FWR shares right now, just not worth the risk (again, I do not believe a white knight will show up-if you do, then this risk may be worth while for you). The closer we get to November 18th without a competing offer, the more worried I would be holding FWR shares.

Tic toc, tic toc (14 trading days left!)

Glorieux