HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: OK lEts be clear on this...

Poly,

 

You are jumping the gun here when you say, "Very doubtful that all or even a large percentage of warrants will be cashed in for shares." We simply do not know at this time whether the warrants were exercised or not - we have indications that support the warrant holders exercising and indications to the contrary.

In my mind, I am leaning toward them exercising (I ask myself what I would do in their situation) but I will not be stunned if they do not.

We will probably see later today.

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