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: Re: Just a wild thought
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Yes, SN, shareholders do get a vote in a takeover. I do not think $4 would do it. A takeover would signal a serious buyer. I'm sure the price would jump higher than $4. I've seen it quite often when a bid was thought to be below the value. I think it would take a bid in the $8 to $10 range. Even then, how many shares would that get them? For sure our board has a figure in mind, and any bid too low would have them counsel against accepting the bid. No matter what ones view is of the present board, they are in this to make themselves a good buck. So this would amount to a hostile takeover. Once in a while they succeed. But often this happens because the BOD of that company wants to hang on regardless of value. Recently we had a takeover offer for Yahoo by Microsoft. Management recommended against, and had too much support. There are still a lot of red faces over that one, but the Microsoft people are smiling. Still, don't feel sorry for Yahoo shareholders. They had an opportunity to sell into the market at a very good price. Those who were greedy for the extra few bucks got burned. Microsoft wasn't smart. They just got lucky.

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