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: Am I reading this release properly?
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Am I reading this release properly?

posted on Jul 04, 2008 10:05AM

Am I reading this release properly?

Indicated

1,834,000(t) X $515 = $944,510,000

Inferred

1,087,000(t) X $614 = $667,418,000

Total resource net smelter value, indicated and inferred

= $1,611,928,000(NOT’S profit)

Now divide this by the estimated fully diluted shares of I believe around 138 million.

1,611,928,000 = $11.68 net smelter revenue(NSR)

If I understand this properly this is after all costs, other than governmental licensing etc.

Wow this is big. In this case, this is clearly grade, grade, grade. And with the drill, drill, drill we are going to be in for 1 big ride some where in the next 3-12 months.

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