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: Notwithstanding....

Notwithstanding....

posted on Aug 02, 2008 01:29PM

I have every belief in the rich resources in the JB area and on NOT's property. I believe that the finds will continue to be outstanding for the company. I don't believe that a big dollar at the end of the tunnel is a given. I'm hoping that it will come to pass, but the faith that I have in mother nature I do not share concerning the human race. I don't consider it a done deal until it's signed and sealed that we'll get $xxx.xx dollars per share. I believe the resources are there to make it possible but the human factor can not be necessarily calculated. I think we have taken all the precautions that are humanly possible to protect the investor in place, but for me there is no knowing what lurks beneathe the surface of the corporate world. If we were approached at $4, which I don't expect to be, what would the take out price be. Would we run up to $10, 12, 15? Were we not expecting 25,30, much more? So you say there would be counter bids to drive it further. I say that is also possible. But there is no guarantee. And what of the investor votes. Would the big 4 take $15 or so for their shares. You might say no but who really knows for certain? Personally, I would hold for the maximum buck, but I don't think all investors would and my knuckles would be a little white at ballot time if I didn't see numbers that I liked. I think a lot of people would think themselves very lucky at $10, I would be heartbroken. I hope everyone feels like I do about waiting for the max, I generally think we'll come close but I don't consider it a done deal by any stretch. We spend much time thinking about resources, staffing and listings but there are other aspects less considered. Voisey's Bay is often cited for the buyout price but it is definitely a given that majors know that story and will take steps to pay as little as they possibly can. Noront may have arguably one of the most outstanding finds on the planet so it is likely to set itself apart from many of the other less than stellar buyouts, but I'm very glad and comforted that we have the sharpest Venture team assembled to pilot through the murky corporate waters.

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