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: lest we forget

I think we have to take a better look at how the Chineese operate. What is their primary objective ? Is it to secure a long-term supply arrangement or to make a good profit with their 9.9-19.9 % share investment ?? IMO, sure they would want to see some profits,BUT strategically they are after the ore at the best price they can get with a long-term relationship and the sp and profits are quite secondary . IMo,we likely would have been far better off with an outright sale of the company to one of the other majors . A sale ,with shares for shares in a major would ,IMO, have likely given us far more leverage. Look at the share for share deal that FWR got with Cliffs. While the deal looked like a steal for Cliffs ( and probably was),the value of Cliff shares has since appreciated in a huge way ,with room for far more appreciation in the future,with all of Cliffs holdings and operations.

IMO,the NOT deal with the Chineese is really a deal for the Chineese and weak for shareholders.

Just my opinion.

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