Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT)announced today that it has formally commenced a share exchange take-over bid (the "Take-Over Bid") for Freewest Resources Canada Inc. ("Freewest", TSX-V:FWR) to acquire all of the issued and outstanding common shares (the "Common Shares") of Freewest (the "Offer").
"We are extremely pleased with the support we have received since announcing our intention to launch a take-over bid for Freewest," said Mr. Wes Hanson, President and CEO of Noront "We firmly believe that the shareholders of both Freewest and Noront will realize tangible benefits from this transaction."
For more information, see www. norontresources.com
Tuesday, October 13, 2009
Noront Resources announces Change Of Venue for upcoming Annual and Special Meeting of Shareholders on October 15, 2009
Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) Noront Resources Ltd. announces that due to larger than expected attendance at its upcoming Annual and Special Meeting of Shareholders to be held on October 15, 2009, it will be changing the meeting venue in order to accommodate all shareholders.
The meeting has been moved from the Exchange Tower (TSX Gallery) at 130 King Street West, Toronto, Ontario to the Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario, in the Ballroom located on the Convention Floor, at 4:00 pm (Toronto time).
The Annual and Special Meeting of Shareholders will be Audio-cast and the presentation will be webcast and available on the company's website at www.norontresources.com as well as on the following URL link: http://w.on24.com/r.htm?e=169024&s=1&k=D5F3EE58914F1D7E52C75A2A102C5961
To access the Audio broadcast of the Annual and Special Meeting of Shareholders via telephone please dial the following numbers:
North America 1-416-644-3426
North America Toll Free 1-800-731-5319
Germany 49-69-5899-90706
Germany Toll Free 0800-101-1958
United Kingdom 44-20-7190-1596
United Kingdom Toll Free 0800-358-5263
France 33-1-5569-5751
France Toll Free 0800-945-104
Conference ID: 4163968
The meeting has been moved from the Exchange Tower (TSX Gallery) at 130 King Street West, Toronto, Ontario to the Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario, in the Ballroom located on the Convention Floor, at 4:00 pm (Toronto time).
The Annual and Special Meeting of Shareholders will be Audio-cast and the presentation will be webcast and available on the company's website at www.norontresources.com as well as on the following URL link: http://w.on24.com/r.htm?e=169024&s=1&k=D5F3EE58914F1D7E52C75A2A102C5961
To access the Audio broadcast of the Annual and Special Meeting of Shareholders via telephone please dial the following numbers:
North America 1-416-644-3426
North America Toll Free 1-800-731-5319
Germany 49-69-5899-90706
Germany Toll Free 0800-101-1958
United Kingdom 44-20-7190-1596
United Kingdom Toll Free 0800-358-5263
France 33-1-5569-5751
France Toll Free 0800-945-104
Conference ID: 4163968
Friday, October 9, 2009
The "ROF pas de deux" - Noront & Freewest
So where do you stand on this "ROF pas de deux"?
In this dance, I have a basket of Ring of Fire (ROF) stocks. Therefore, if Noront goes to $10, I'm happy. Of course, under the clouds of the unsolicited bid of Noront's for Freewest, that would mean that Freewest would be around $2.50 (it's a 1 for 4 share takeover bid). Pretty good for an investor who has 100K+ in FWR shares.
But I'm wondering: What is the likelihood that Freewest is better than $2.50 per share? They got gobs of chromite. Enough for 50 years supply for the eventual owner. And they have a well-heeled buyer in the wings for it (who, moreover, wants to build a railroad).
But there is more.
Is there the likelihood that Freewest might find PGEs and some nickel? Quite possibly for nearby Spider Resources has already found significant PGEs on the "Freewest Option" lands. Heck they've even found rhodium. Pretty scarce stuff.
One drill will be all that it takes. Honest. One drill into a significant PGE-Ni find would change the "pas de deux", and would make Freewest the one chasing Noront.
I think, however, the strategy of investing in a basket of ROF stocks is a good way to play the junior explorco game in the ROF. The "ROF pas de deux" would end up having many happy and wealthy investors not only in Noront and Freewest, but also SPQ, KWG, and UC (and probably Probe and FNC [which I don't own].)
Snug
In this dance, I have a basket of Ring of Fire (ROF) stocks. Therefore, if Noront goes to $10, I'm happy. Of course, under the clouds of the unsolicited bid of Noront's for Freewest, that would mean that Freewest would be around $2.50 (it's a 1 for 4 share takeover bid). Pretty good for an investor who has 100K+ in FWR shares.
But I'm wondering: What is the likelihood that Freewest is better than $2.50 per share? They got gobs of chromite. Enough for 50 years supply for the eventual owner. And they have a well-heeled buyer in the wings for it (who, moreover, wants to build a railroad).
But there is more.
Is there the likelihood that Freewest might find PGEs and some nickel? Quite possibly for nearby Spider Resources has already found significant PGEs on the "Freewest Option" lands. Heck they've even found rhodium. Pretty scarce stuff.
One drill will be all that it takes. Honest. One drill into a significant PGE-Ni find would change the "pas de deux", and would make Freewest the one chasing Noront.
I think, however, the strategy of investing in a basket of ROF stocks is a good way to play the junior explorco game in the ROF. The "ROF pas de deux" would end up having many happy and wealthy investors not only in Noront and Freewest, but also SPQ, KWG, and UC (and probably Probe and FNC [which I don't own].)
Snug
Fancamp Announces Close of Flow Through Financing
I guess Peter Smith needs some pocket money for expenses. Is this a joke or what? When are these guys going to grow up?
Snug
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Fancamp Exploration Ltd. (TSX VENTURE:FNC) wishes to announce the closing a non-brokered financing of $155,750 through the sale of 207,667 flow-through units (the "FT Units") at $0.75 per Unit. Each FT Unit consists of one common share and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into common shares at a price of $0.90 per share until October 2, 2011, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires. All shares issued are subject to a four month hold period expiring on February 2, 2010.
A finder's fee of 8% in cash and 10% in options for non flow through units at $0.75 per unit will be paid to eligible finders in relation to this financing. The proceeds received will be used to further work on the Company's exploration properties in Ontario and Quebec. The above is subject to regulatory approval.
Snug
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Fancamp Exploration Ltd. (TSX VENTURE:FNC) wishes to announce the closing a non-brokered financing of $155,750 through the sale of 207,667 flow-through units (the "FT Units") at $0.75 per Unit. Each FT Unit consists of one common share and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into common shares at a price of $0.90 per share until October 2, 2011, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires. All shares issued are subject to a four month hold period expiring on February 2, 2010.
A finder's fee of 8% in cash and 10% in options for non flow through units at $0.75 per unit will be paid to eligible finders in relation to this financing. The proceeds received will be used to further work on the Company's exploration properties in Ontario and Quebec. The above is subject to regulatory approval.
SPIDER RESOURCES INC. ANNOUNCES WARRANT AMENDMENT APPLICATION
I see this as good news. Future looking.
TORONTO, ONTARIO - (October 9, 2009) - Spider Resources Inc. ("Spider") (TSX VENTURE:SPQ), is pleased to announce that an application has been made to the TSX Venture Exchange (the "TSX-V") to amend certain terms of 30,666,666 warrants (the "Warrants"), which were issued by Spider on October 11, 2007 as part of a brokered private placement of flow-through and non flow-through units of Spider. Each Warrant is exercisable at a price of $0.175 per share until October 11, 2009.
Spider has applied to amend the terms of the Warrants as follows: (i) extend the term of the Warrants by one year until October 11, 2010, and (ii) reduce the exercise price of the Warrants from $0.175 per share to $0.10 per share (collectively, the "Warrant Amendment"). As part of the process for the application Spider has received consents from 100% of the beneficial owners of the Warrants to these amended terms. The remaining terms and conditions of the Warrants remain unchanged. The TSX-V has conditionally consented to the Warrant Amendment.
TORONTO, ONTARIO - (October 9, 2009) - Spider Resources Inc. ("Spider") (TSX VENTURE:SPQ), is pleased to announce that an application has been made to the TSX Venture Exchange (the "TSX-V") to amend certain terms of 30,666,666 warrants (the "Warrants"), which were issued by Spider on October 11, 2007 as part of a brokered private placement of flow-through and non flow-through units of Spider. Each Warrant is exercisable at a price of $0.175 per share until October 11, 2009.
Spider has applied to amend the terms of the Warrants as follows: (i) extend the term of the Warrants by one year until October 11, 2010, and (ii) reduce the exercise price of the Warrants from $0.175 per share to $0.10 per share (collectively, the "Warrant Amendment"). As part of the process for the application Spider has received consents from 100% of the beneficial owners of the Warrants to these amended terms. The remaining terms and conditions of the Warrants remain unchanged. The TSX-V has conditionally consented to the Warrant Amendment.
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