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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posted on Jul 09, 2008 05:55PM

I think two things have made the SP drop after the excellent discoveries last year:

The first is about the all-year access road, is it possible, how long a time and how much will it cost. Todays post about the existence of pretty large amounts of gravel helps a lot and makes this more positive.

The second was the NR about chromium. Canada is a nickel country, people invest in nickel, who knows anything about chrome. And futher, suddenly nobody could any longer predict what to find next. In this case 2 half full glasses turned into one empty one. Everything suddenly changed, this was a huge sell signal. Could this change? certainly you either have to find more nickel again or indeed proove a chromium resource. To admit, personally so far I have ignored the chromium. I probably should look into this and I think a lot of people eventually will as more will be found.

Personally I think this will require a couple of years of more drilling to determine if indeed this region will be developed or not. It is of course possible that E1 could proove up a lot more ore fairly quickly, and that would be extremely positive. From a mining point of view one large deposit is much better than a whole bunch of small ones even if the tonnage adds up the same.



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