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: Shareholders Rights Plan, link below
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Can someone(s) comment on this document, for eg: What exactly does it provide for us sh'ers?

Another question I have is can Baosteel be involved in anything other than a friendly takeover since they are part of the BOD

Hi cupcake,

Shareholders Rights plan protects SHs by preventing anyone from acquiring more

than 19.9% without permitted bid to all shareholders, open for at least 60 days.

Plan makes it prohibitively expensive.

And a second question...BaoSteel is allowed by agreement to increase their

ownership in NOT to 19.9% by may2/2013. On the same day their standstill agreement

that prevents them from doing anything else expires.BaoSteel aso has 90day

exlusivity agreement with NOT that lets them match any bid/offer any time prior to

production.

Hope this sheds some light on subject.

GLTY and all,

Fossil

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