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: Dear informed

Dear informed

posted on Sep 06, 2008 04:01PM

You have stated the following:

"With the present burn rate, if we do have to go back to the markets at our present price, there will be some major dilution happening and no one wants that."

With respect to your worries that they may "have to go back to the markets at our present price"....I suggest you look at their current cash position as well as thier budget....their budget is as follows:

Budget going forward as follows:

Eagle one ...further drilling and scoping study total $3.5 million

Blackbird one & eagle 2......resource estimate cost of $2,150,000

Blackbird two.....continued drilling cost of $1,050,000

AT-12....continued drilling cost of $875,000

Testing for new anomolies.....$1,830,000

Camp and airstrip.......cost of $1,750,000

Contingencies.....$1,115,500

I hope that alleviates your concerns

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