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: NEWS - NOT announces positive results of preliminary assesment of Eagles Nest
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Bratty:

"So Eagle's Nest alone is worth $2.88 per share by my calculation - fully diluted."

Plus add the Blackbird Chromite (our second NI 43-101 resource).

Based on the SPQ buyout price of $ 150M (SPQ had 1/4 of Big Daddy),

Blackbird has lower grades compared to Big Daddy, but is 50% bigger than SPQ´s quarter of Big Daddy.

So you might want to add roughly $ 150M to the Eagle´s Nest valuation, which would add another $ 0.80/share.

Total for Eagle´s Nest (per NPV) and Blackbird would be : $ 3.68 / share !

(Not included: Eagle´s Nest Deeps, JJJ Gold, other Nickel deposits to be found)

FANTOMAS

And my favourite part from today´s NR:
The Company is also encouraged that the PA demonstrates that the Eagle’s Nest Ni-Cu-PGM discovery can bear the full costs of infrastructure development if necessary.

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