Lets go back and review whom is in this deal. On the one side we have FREEWEST, CIBC and CLIFFS, whom I personally have
no questions or reservations about.
On the other side we have Noront, Rosseau Asset Management, Irwin Warren and ROTHSCHILD Inc., all of whom I have
the deepest and most serious reservations about, and questions that
cannot even begun to be asked, let alone answered.
Mac and crew at FREEWEST have brought stockholder value time after time.
Their integrity is unquestioned.
Sadly putting Noront’s crew in charge of FREEWEST’s assets would be tantamount in methaphor
as to putting Goldman Sachs in charge of the US Economy, IMO.
The ways and means Noront, Irwin Warren et al i.e. Rossea Asset Management Ltd, and ROTHSCHILDS Inc. have used to “attain value”
leave questions in my mind, as to what their basic skillset is besides financial manipulation. Richard Nemis, like him or not, is a miner.
So far, FREEWEST has all it needs and good financial management in addition to deep pockets on the part of CLIFFS.
Its clearly apparent Noront wants and NEEDS what FREEWEST has, and has more confidence
in FREEWEST’s assets than its own land position. So far Noront has only “commodity” finds that put it into competition
with many other mining companies rather than FREEWEST who has the
desired CHROMITE tonnage. Noront’s chromite tonnage and qualities do not compare well with FREEWEST despite their protests.
Reading all that is out there, its clear that the only ones with anything to lose here,
are the FREEWEST Stockholders that tender their stock for this offer. It wont be me.
The markets are giving FREEWEST a “thumbs up” and Noront a “Thumbs down” sign.
A number of comment concerned Mac’s options or lack of them. From my outsider’s viewpoint, he still has lots of
ways and means to enhance our stocks value. Take all the corporate tactical moves you have
ever heard of, and apply a few of them to this situation, and you will see that many possiblities are open now. I have left the specific’s I have in mind out of this post until we see what MAC has in mind by Wendesday’s response
Note the volume dropping in the FLAG formation, and also notice the Mid Bollinger Band at .425 cents
Now here is a differing view on the Point and Figure and notice that the reversal level is also 42 cents;
You also note that this P & F chart carries an upside projection of 1.56, rather than 1.23, which is not terribly material, as the momentum is quite upbeat,and the retrench level seems to be not much lower than 42, rather than entering the gap as some have suggested. IMO, “Discovery Style Patterns” bounce off their gaps if there is a true discovery that will propel the stock skyward.
Again, IMO, this is the case here.
As interpreted in classical gap analysis, this stock has the 3 requirements for a BREAK-OUT WINNERS A/ Gap Breakout ; B/ Strong Upside Volume propelling advance; C/ News Forthcoming Supporting future value in the stock.
Rather than boring you with any more narrative, I’d say the stock is strong and tells us to hang tough and see more good stuff coming down the pike. Understand, this is what the smart money knows, and can be changed at any time by stupidity. Again, I am a shareholder so I do believe that FREEWEST is full of value, but also think I can clearly portray some facts and issues.
AS, IF, an WHEN I have more to share, I will make it available.
So far we have Noront’s word this is a good deal, and Mac’s word its a BAD Deal, take your choice
DG
