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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Watch out for the weekend.IMO,an offer is coming and my guess is an initial bid of$1.50. Many metal company buyouts recently are occurring at a price of 35 % of the NPV of known reserves/resources. Yesterdays PA gave a conservative NPA of approx. $3.00 a share . 35 % gives us $1.05. Add .45 c ents onto this and you get an initial offer,(strictly my opinion), of $1.50. The .45 cents represents a premium of 33%. Call it however you wish,but we will never ,IMO,see an offer of $3.00.

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