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: Hole #12 values
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I thought it might be interesting to work backwards with the $2530 per tonne to see if we can see what the market capitalizations could be and how many tonnes we would need to get there.

Assumptions;

118M shares O/S

In situ value 10% i.e $253 per tonne

Price

Implied Market Cap

Tonnes required

5.30

625.40M

2.47M

6.00

708.00M

2.79M

7.00

826.00M

3.26M

8.00

944.00M

3.73M

10.00

1,180.00M

4.66M

Clearly the current pricing suggest under 2.5M tonnes. Now all we need is Rockaur to tell us what his model says. "Survey Says"

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