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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Khareema,

One thing that you should remember is that the BOD has the power to "reprice" those options at a lower price. That would be really ugly OR they can cancell the options and reissue them later at not only a lower price but at greater volumes!!

Any way you cut it, management is not going to lose out, just because the SP falls. They will justify it by citing general market conditions. Rico

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