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: More going on behind the curtain

- Estimated Completion Date: December 2012
I would assume that this final completion date would be the start date of project. In my opinion (crazytrade)

in response to your post “More going on behind the curtain by crazytrade

CT, from your (this am) post:

“Ministry of Northern Development Mines and Forestry Page 16
2011-05-06

Phase Four – MOE Review and Approval Process for Class EA
- Thirty-day consultation period for government agencies, members of the
public, Aboriginal communities and organizations, and other interested
groups or individuals to provide input and response.
- MOE Environmental Assessment and Approvals Branch will review and
evaluate Class EA; provide recommendation to Minister of Environment.
- Minister’s of Environment’s decision.

-
Estimated Completion Date: December 2012”

Connecting some dots…..

From my Mar 29/11 post re”

A Q/A conversation with Paul Semple this morning. FYI

posted on Mar 30, 11 08:32PM “, …… please reference Q/A #6: (follows):

Q (6) (Peter to Paul Semple on Mar 29/10): Could there be any "shovels in the ground" ramp building activity prior to securing a permit? Is there such a thing as a preliminary/temporary permit which would an earlier mine build start-up?

(A) (Semple): ”The schedule is "easy": - 2 years (starting Mar23/11) for permitting (+ agency/ministries reviews, -i think)”;

-“ build: seasonally using 3 winters;

- year 1: (2012 to 2013)and year 2 : transport of materials/equipment etc (winter roads, etc)

- years 1,2,3(winters) transport of operational supplies, etc

Late 2015/early2016: Start mining.”

NOTE 1:” Permitting is the critical path. "If permitting is faster, we start faster" ". “If Ramp can start early (ie a RAMP -only start using a "sub-permit".... "we will start the RAMP early".

NOTE 2: "there is a 50 week delivery lead time for mining gear on an ice strip"

My observations are:

The EA (Permiting) stage will end Dec.2012. Therefore mine build starts Dec/12, and hence build start in crucial winter #1(2012-13) is established per Semples schedule ( Q/A “6, above).

My conclusion is:- The permitting schedule has moved up 6 months;

- The mine build stage has moved up 6 months;

- The Ramp build will start earlier (via sub-permit in 6 mo.??);

Also: The Semple- promised updated PA/43-101 for Mar31/11; extended for more month to submit the Permit application, and more time (another month and counting) for the release date of the economic (bankable) feasibility study (aka updated PA/43-101); and even more time due to the additional feasibility scope of chromite new drill results/ inputs; “regional” drill results; PGMs;and other stuff such as JJJ’s gold and the Vanadium. This is known as purposeful project scope creep, a well known method of never reporting results or status until it is both politicaly and strategically ready to do so.

I think the BAOsteel partnership permitted this scope creep. Terrific strategy. Cliff (and others) are boxed. Peter.

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