Tuesday, October 6, 2009
OK folks, How about some FUN??
South of Hudson's Bay, and west of James Bay in what is known now as the James Bay Lowlands, specifically McFauld's Lake a group of small minerals explorers have begun to outline the only chromite deposit in North America. Throw in a lot of Platinum Group minerals as well as Nickle, and you have the Black Thor, Big Daddy, Double Eagle etc, etc deposits. Quite interesting to the steel pellet producers and shippers to use in steel production and so on.
One of the companies featured by Jason Hommel some time ago, NORONT, was the first publicized with its find of DOUBLE EAGLE, which quickly morphed into a probably 10 mile long deposit. A lot of companies are in on it you have never heard of: Spider Resources, KWG, UC, Probe Mines, Norther Shield, etc etc etc.
Now due to their takeover by a predatory hedge fund [ thank you ], NORONT has got greedy and wants a hostile offer for the well financed explorer developer [ and their JV partner] at theft prices. FREEWEST RESOURCES [ FWR.v] probably controls HALF
the deposit and is [ was ] valued at 76 Mil [ CDN $$ ] vs. Noronts $240 Mil valuation
Simply put, FREEWEST controls probably 3 or 4 times the value that its Hostile bidder, Noront [ NOT.V] , and NOT.v wants to buy FREEWEST for 1/4 of its own value to gain 4X its value. Turned on its head, thats 16::1 in Noront's favor. Thats one helluva good deal for THEM, LOL.
But hey, no publicity is bad publicity. If it werent for the hostile bid for FREEWEST, it might further toil in obscurity for some time, until someone like Cleveland Cliffs swallowed them [ Cliffs has positions in FWR.v. also plus a few others ].
Hard to play in this group unless your Canadian or can access Canadian exchanges handily. I have been in this over a year, rode it down under 20 cents where the management and others scooped up huge quantities of it, also and then back up, so it will be an interesting play. Short term this whole group heats with the "Rare Earth" group, which was the NEXT BIG THING, some time ago. However this is so real, its "REALER than REAL" which will make it very interesting as the "elephants" starting trying to get a piece of the action. Observe, it might be interesting.
Subscribers will get a view.