Thursday, October 22, 2009
The saga continues as FREEWEST [ FWR.V ; US Pink Sheets FWERF - OTC] stock posts strong formations in spite of declining market liquidity.
Cracks continue to open in the facade of Noront's already weak Stock Only hostile bid for 2/3's or more of FREEWEST's stock. At this point FREEWEST's is .53 cents, at the days high, while the best NOT's stock can do is 1.77, which translates to
a 20% discount reflecting the market's skepticism of the offer and continues to drive FREEWEST higher.
Distortions, misleading data, data omissions, half-truths are all deployed in attempts to get this offer into the RED ZONE but so far, it seems like 3rd Down and 10 yards to go for Noront, as FREEWEST has not even used their First String for Defense as yet.
My feeling is that since the miners were displaced from Noront by a hedge fund coup which we see often, like misguided Carl Ichan's, who are looking for a theft in order to make a qwk buck instead of the honest hard work it takes to create mineral reserves. Noront gets a thumbs down for that. Considering that Noront's stock has fallen from from the $7's in late 2007, and will have to break $3.00 to the upside to break its downtrend, I think they are in a lot of trouble.
The reverse appears to be true as FREEWEST develops its deposits of Chrome, PGM, and precious metals in its half of the James Bay Lowland Camp, as it is climbs back into price zones going back into 2006
The likelihood is that when they complete their NI 43-101 studies [ Canadian Truth-In-Mining Law mandated ][ compares apples with apples ], they would be unattainable by anyone but a major,and I think Noront hopes to snatch them before they can complete this, which by the day is becoming more and more unlikely.
We have long held positions in FREEWEST, having evaluated both years ago, and entered FWR seeing a good multi-Dollar upside target. Nothing has changed.
Good Luck, this is not for everyone but IMO has speculative potential.
Well as the title premise states the developing divergence and loss of momentum by MR NASTY has portended a reversal of flow of fund, OUT of the Markets. and do except
for selected stock such as featured in PEAK PERFORMANCE PICK, and other exceptions like FREEWEST Resources of CANADA [ FWR.v, US Pink sheets FWERF ], fund are leaving the markets.
Longer term it appears as if the world will not end. Somehow all those billions of people in Asia who have been working their toes off, will not be denied their rewards
That does mean that a lot of bloom is gone from the growth of other sectors of the world or the charts would be off the scale for aggregate demand. We have polka - dot recession, prosperity, adversity, all over the place. Sectors are now global, and so people all over the globe will be feeling different things. GOOD sectors will prosper.