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: Tony talking tough

Today BNN commented on Clements statements about Vale INCO.

Their legal interpretaion about a law suit was, as expected, that there are provisions for Vale to have layoffs/shutdowns under unusual situations like these economic conditions. Obviously no company is going to sign an agreement tying their hands in situations such as this.

They also suggested that this is a political ploy by the gov't to get Vale to agree to 2 more years of no layoffs.

I still say the USWA is putting pressure on the gov't because of the ongoing contract negotiations and the timing of this shutdown. Clement is just being political because many of the electorate are union members. He is just barking. The dog doesn't bite.

Tony and the union had better understand that employees on strike are not entitled to EI.

SN

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