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)
Message: Laughable-Bidding war underway - BHP tops Wyloo's Noront offer, again
This bidding 'war' is almost laughable. Like 2 little children slapfighting. This is more like a bidding quibble.
Bill Gallagher
@ResourceRulers
.
#Ring of #Superior #Offers "Noront Board, considering superior C$0.75 / share cash has determined that Wyloo Metals C$0.70 / share, has ceased to be "superior proposal"! RR can hear Cliffs laughing all the way from Cleveland
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Bidding war underway - BHP tops Wyloo's Noront offer, again
Michael McCrae Tuesday October 19, 2021 21:15
Kitco News
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Today BHP Billiton increased its all-cash offer to Noront Resources' shareholders to 75 cents Canadian per share.
The offer represents a 36% premium to its previous offer, a 7% premium to the Wyloo offer and a 213% premium to Noront’s unaffected price, according to a press release from Noront Resources (TSXV: NOT).
"Noront supports BHP’s improved offer and recommends shareholders tender now to receive the cash consideration offered," the company added.
It was only yesterday that Wyloo had the best bid on Noront.
Noront is a Canadian-based mining company that has the largest land position in the Ring of Fire. Noront's Eagle's Nest project is a nickel, copper and platinum group element (PGE) deposit. Noront said the project is the largest high-grade nickel discovery in Canada since Voisey's Bay and the most advanced project in the Ring of Fire.
BHP Billiton is the world's largest diversified miner based on market capitalization.
A year ago Noront was trading at 16 cents.
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