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: Do we still believe the East West option is dead?

I say, and did in the past, that the E-W route has to go in if not for Ring's mines then for the native communities. Fortunately for them that Noront and just about any other non-chromite mine could be going their way.

The flip side of the above is that IF Cliffs were to put in a rail line and perhaps a road through the N-S route then the E-W is on hold for perhaps decades. Result, some of the natives would play the Attawapiscat scenario for who knows how long. Government
politicians would need ro earn their diplomatic credentials.

N-S means that all the other miners would benefit from cheaper transportation by rail.

Cliffs is not dead in the water financially, all they have is a reduction of income to which they need to adjust. But as part of that adjustment is a lean on the canadian governments to contribute more towards buildig the railway. This recession in metal prices is a blessing in disguise for Cliffs because they have an argument to contribute less and by default governments more.

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