Thanks, I hope they do too, not every week ends on a high.
I think I understand your view on a direct placement being better than an offer which attracts fees and commissions but I just can't get away from the 30% discount being indicative of desperation. NOR has a long history of raising money which, when you look at them against the performance of the Company they seem to reflect it's performance. They started off oversubscribed and eventually turned into undersubscribed, the underwriters started dumping the shares they got stuck with and then the public offers disappeared. Direct placements became the norm at ever increasing discounts bringing them to where they are now, having to offer a substantial discount just to get someone on the hook.
NOR Price at posting:
2.5¢ Sentiment: Sell Disclosure: Not Held
