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: My Understanding of the Arrangement

Hello,

I think you are correct.

Would be a shame as I was planning to roll along into the new Noront Company.

But I wonder if I get a chance to "retain" my shares from Europe. Untill now I never received anything for a proxy vote so I guess the shares outside Canada will be difficult to retain :(

But 20% is not a "high" number. A big if idea, but IF Baosteel and BHP chose to retain that's already about 8% ( at least looking at the website of Noront but who is accumulating lately). And I'm sure that there are also other institutes who don't give up easy.

On the other hand I still have a slight hope that one of the big players will show up.

Anyway have a nice weekend!

Regards

Jean

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