I find it interesting that on Oct. 5, 2009 Noront issues a press release with the following:

Noront announces takeover bid.

1 Noront share for 4 freewest shares at an implied offer price of 0.3975 per share based on Noront's October 2, 2009 closing price of $1.59.

Here we are one month later with almost exactly that same offer from Noront even though the freewest share price currently sitting at .47.

Actually, as of this moment we are offering an extra .005 implied offer per share as our current price is $1.61

It seems to me that there is no effort from the BOD and the 59% institutional holders of Noront to feel the need to boost their offer at this time. They seem...confident. Again, I can't help but wonder how many of the 59% have shares in freewest.