Currently viewing Global edition

Wyloo to convert loan as bids for Noront

Wyloo Metals has submitted notice to Noront Resources to convert its US$15 million convertible loan into Noront stock as it seeks to beat out a rival bid by diversified miner BHP for the junior and its Eagle's Nest nickel discovery in Ontario, Canada.

Wyloo to convert loan as bids for Noront Wyloo to convert loan as bids for Noront Wyloo to convert loan as bids for Noront Wyloo to convert loan as bids for Noront Wyloo to convert loan as bids for Noront

Noront's Eagle's Nest in Ontario, Canada

The conversion will boost Wyloo ownership in Noront to about 37.3% from 24.2%, which could give it the edge against its rival. Wyloo also holds warrants to acquire 1.