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 based on "three year trailing average metal prices"
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That is how I saw it too - Genuity was looking at the larger picture, knowing that E1 was still open down and south, as stated in the 43-101. However, the 43-101 has to stick to the facts, while Genuity is not held to these standards. Yeah, it's pumping, but from a company that is culpable.

In the end, given that Genuity and Noront used different ore prices to come up with the estimate values, and the fact that there is more information in the 43-101 than the 3 month old Genuity report, I think the true value will lie somewhere closer to the middle of the two.

Still think that overall, this is great news. Love the idea of a concentrator built on site. Wonder if Billiken will be the operator for that?

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