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: Burn Rate Warning
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I'm not concerned terribly with the 'burn rate' as ample funds are available to support 'the plan'.

However your example from quarterly report showing expenses for last Nov/Dec/Jan likely aren't representative of the increased drilling activity, increased office and salary expense etc. so the $3.5 million per month 'burn rate' seems more likely.

No way Dick Nemis will be looking for funds soon UNLESS it's part of a deal to benefit the company and it's shareholders.

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