BullMarketRun.ca

Gold has recovered from some profit taking this morning and as of 10:30 a.m. Pacific time has turned slightly positive on the day…mining major Cliff’s Natural Resources has increased its friendly all-stock takeover offer for Freewest Resources (FWR, TSX-V) to 90 cents per share…Probe Mines (PRB, TSX-V), which we have been mentioning here, is up nicely this morning as the Freewest offer makes its chromite discovery more appealing to investors…has Noront Resources (NOT, TSX-V) lost the battle for Freewest?…not necessarily, as we believe Noront will be making a lot more noise in this battle and possibly with its share price…we view Noront as a strong buy as we have been stating here over the past week… bottom line, if Freewest is valued at over $200 million now, Noront is worth substantially more – much more – and the market is ultimately going to reflect that…we believe Freewest shareholders are better served joining with Noront as Noront offers a lot more blue-sky potential than Cliff’s…in any event, a major’s interest in the Ring of Fire can only be a huge positive for all the companies in that area, especially Noront…