- Top Noront Resources (OTCPK:NOSOF) shareholder Wyloo Metals says it will not support or tender its shares in BHP's offer to acquire the company, and could make a "superior" offer to acquire the remaining stake in the Canadian nickel miner.
- Wyloo praises Noront's early-stage Eagle's Nest nickel-copper deposit in the Ring of Fire district as "a once-in-a-generation opportunity to set Canada up as a responsible, reliable producer of battery-grade nickel."
- Wyloo says the Noront board "did not seek to meaningfully engage or negotiate" with it before accepting BHP's takeover offer.
- BHP offered last month to buy Noront at C$0.55/share for a C$325M total value, which represented a 129% premium based on the stock's closing price on the day before Wyloo's own C$0.315/share proposal two months earlier.