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: Thresholds

Well you've got my interest since IF equivalent figures held true then a motivated major could stump up the equivalent of $3 a share for 25% of Noront. OK yes this is light perhaps since Nickel has been proved up and is worth a tidy sum on it's own.

Of course tonnage/grade not yet proven up for the BlackBirds as it was at Voisey but a lot closer than we might think.

So if Dick and the boys at Noront were interested in taking a low but fast deal (which you just know they are not) something like, assuming 50 million tonnes of high grade chromite, $3 a share for 25% and then $10 a share for balance, OK plus $3 extra for nickel. Total $16/share

Yes you can jump on me for putting out such a low number which doesn't account for huge ROF claim base or potential to find more nickel and more chromite that used for numbers. BUT doesn't it make you feel a bit more comfortable when share price is sub $2 to reflect on a conservative valuation of $16 down the road? Maybe not that far down the road?



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