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: Discount Rate?
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Now, as the resource that we have isn't "proven" (it is a lesser quality) discounting for some risk is probably appropriate. However, I think the discount rate should trend to the risk-free rate as the resource estimate quality is improved.

I have no mining valuation experience, but I read something along these lines in a financial text book that was outlining valuation of a goldmine.

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