"Freewest Resources Canada is the result of a spin-off in 1994 of the previous Freewest Resources which was amalgamated/taken over by Hemlo Mines. Hemlo was itself later taken over by major gold mining corporation Battle Mountain Gold. In the amalgamation/takeover, Freewest shareholders received shares of Hemlo Mines and also received one share of the "new" Freewest Resources Canada, which included all properties except for Freewest’s Harker Holloway mine. The Harker Holloway mine was the objective for the acquisition by Hemlo. It had been discovered and developed by Freewest exclusively. It has turned out to be one of the largest mining properties discovered in the 1980’s in Ontario. It is now a producing gold mine. The success that Freewest had in exploration is a testimony to its management, particularly its CEO Mackenzie Watson.
Mackenzie Watson’s mining, management and exploration abilities have not gone unnoticed. He was named as Canada’s "Prospector of the Year" in 1991. He owns over 880,000 shares of Freewest stock. It is extremely important that the officers of a mining company are large shareholders of the company as well. It is an indication that the primary interest of management is in the performance of the company’s stock.
History has shown, just as in the case of the original Freewest Resources, that smaller mining companies that are successful in developing proven reserves are often acquired (taken over) by major mining companies, usually for shares of the major mining companies. While nobody can promise that any company will be a buyout/takeover candidate, Freewest’s management has done it in the past. Freewest has excellent exploration properties, a solid cash position, experienced management and perhaps most importantly, the ability to continue an aggressive exploration program in what has proven to be an extremely difficult period for metals and mining stocks."
http://www.canaminvestor.com/forum/viewtopic.php?pid=12
Just a possibility of a major taking over Freewest when faced with a takeover bid and Mac's definitive action to achieve the best shareholder value for this company.
Don't fold into intimidation people, bashers only bash good stocks when something positive will occur, like when Noront discovered Eagle 1.
If you sell your shares now you make a bit, if you hold on you make relative profit if Noront's bid does succeed (you get NOT shares). But as seen in the past and proven by Mac's management, he knows exactly how to turn the tables on takeover bids or make killer profit for his loyal shareholders. Example: QUC is 20x what it is worth now, can't refute that. I'm not saying you should expect a 20x return, but you can trust that he won't abandon us during situations such as this.
Have a happy halloween. I hope everyone enjoys their weekend! :)
-Rome
