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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ahead12, the warrant exercise price is $5.00 (not $6.00).

Also, the warrant holders might still elect to exercise their warrants even if the price is around $5.00. If they went to the open market to buy say 1,000,000 shares, they would have a difficult time in doing so without pushing the price up.

It will certainly be interesting to see if the warrants are exercised at the prevailing prices. If they are, you know that there is a level of confidence amongst the warrant holders.

If the warrants are not exercised, I personally will not be concerned. I would think that if RN wanted our price higher in order to encourage the exercise of warrants, he could make that happen. If this does not happen, I would suspect that it is by design and I would also think that RN might have a couple suprises up his sleeve.

IMHO,

Cheers,

Milsy1 

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