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: slide 35 of 37
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The way to read it is:

  • Orange line:

Evolution of SP for :

Eagle's Nest alone : with phases from Discovery to Production

---------

  • Blue line:

Evolution of SP for :

Eagle's Nest with phases from Discovery to Production

+

Ni-Cu-PGE 2 with phases from Exploration to Development

---------

  • Green line:

Evolution of SP for :

Eagle's Nest with phases from Discovery to Production

+

Ni-Cu-PGE 2 with phases from Exploration to Development

+

Blackbird with phases from Exploration to Discovery

++++++++++++++++++

If NOT SP is still around 1.20$, and according to the graph at page 35, NOT assume:

  • they will have a major discovery at Eagle's Nest (ascending orange slope) 2010
  • they will have a major discovery for Ni-Cu-PGE2 (ascending blue slope) 2010
  • they will have a major discovery AT Blackbird (ascending green slope) 2011 or later
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