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: Valuation

Good morning Canada,

Even though I'm upset like most of you (was expecting that possible openings bids would exceed the 5 dollar range). Holding on to about 50.000 shares this should be my chance of an easier life :).

But nevertheless, I don't expect other companies now sit back and relax thinking "let the aussies have this play..we don't care".

With other companies I mean : Glencore / Outokumpu / Thyssen etc. All those who are in need of Nickel / Chrome etc.

I was always hoping for some kind of bidding war and hope this is the one.

Only downside I can think of at the moment is that our BOD are getting some kind of premium and a really nice fat paid job at Forrest.

Let's wait and see but glass is still half full.

Regards,

Jean

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