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: Re: Mushkegowuk Going thru the Change - Regional Assessment Ring of Fire - More Study More Delays

If this Assessment is adopted by all parties, FNs, provincial and Federal govs, then the prospect of any progress and perhaps even drilling may just come to a halt.  The current EA's for the roads may also be incorporated into this assessment process and be governed by its guidelines which would probably delay and perhaps expand the scope.  The scope of the assessment is expansive and encompasses beyond just the area where the minerals are located. 

IMO this brings back into question whether BHP and Wyloo are discussing a partnership and, seeing as stagnated progress and as yet unknown requirements ($$) they may be faced with to advance the project because of any agreed to conclusions of the assessment, the prospect of buying out Noront and then going private may be the prudent approach until the road forward is clearer.

This proposed assessment is an unexpected turn of events.  History shows the ROF has been a challenge to advance ever since it was first discovered and a graveyard for mining companies big and small.  History doesn't always repeat itself but often echoes the past.

Am now expecting a $1.00 - $1.24 offer for all shares with the explanation that the future is now unknown contrary to when the bidding started for the buyer and the shareholders. Offering shares in a new Noront would be financially risky and to keep the company public in my view now would result in a dilution share price risk.

As many others, I have been here for a number of years and have always kept in mind what a chief way back when said - "The minerals are not going anywhere and neither are we. They'll always be there"

Good luck to all but think the fat lady is warming up her voice.

 

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