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)
Message: National Instrument 62-103 The Early Warning System
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Deemed Effective Control
1.2 For the purposes of the definition of "effective control", an entity that, either alone or together with one or more joint actors, owns or controls voting securities carrying more than 30 per cent of the votes attached to all of the outstanding voting securities of a reporting issuer shall, in the absence of evidence to the contrary, be deemed to possess effective control over the reporting issuer.
Reliance on Reported Outstanding Shares
2.1 (1) Subject to subsection (2), in determining its securityholding percentage in a class of securities for the purposes of the early warning requirements or Part 4, an entity may rely upon information most recently provided by the issuer of the securities in a material change report or under section 2.1 of National Instrument 62-102 Disclosure of Outstanding Share Data or section 5.4 of National Instrument 51-102 Continuous Disclosure Obligations, whichever contains the most recent relevant information.
Securities Held by an Investment Fund
5.2 An eligible institutional investor, or an affiliate or associate of an eligible institutional investor, may, for the purposes of the applicable provisions and securities legislation related to the applicable definitions, treat securities owned or controlled by an investment fund over which the eligible institutional investor, affiliate or associate exercises or shares control, or securities into which those securities are convertible, exercisable or exchangeable, separately from other securities owned or controlled by the eligible institutional investor or affiliate or associate if
(a) the investment fund is not a private mutual fund;
(b) a portfolio adviser manages the investment fund on behalf of the eligible institutional investor under a written agreement;
(c) the portfolio adviser has been identified as managing the investment fund in a document provided to an investor;
(d) none of the eligible institutional investor, its affiliates or associates, or a director, officer, partner, employee or agent of the eligible institutional investor or its affiliates or associates, makes, advises on, participates in the formulation of, or exercises influence over, decisions made by the portfolio adviser on the acquisition, disposition, holding or voting of securities, except for the purposes of
(i) preparing research reports,
(ii) monitoring or ensuring compliance with regulatory requirements, or
(iii) setting, monitoring or ensuring compliance with general investment policies, guidelines, objectives or restrictions;
(e) the eligible institutional investor or affiliate or associate has reasonable grounds for believing that the portfolio adviser complies with the applicable provisions and securities legislation related to the applicable definitions in connection with securities owned or controlled by the investment fund;
(f) the portfolio adviser neither controls nor is controlled by the eligible institutional investor or an affiliate or associate of the eligible institutional investor; and
(g) the eligible institutional investor or affiliate or associate complies with section 5.3.
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