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: "Today was a little bit of gamesmanship from our fund friends

"Today was a little bit of gamesmanship from our fund friends

posted on Oct 23, 2008 06:06PM

Good Evening NOT,

There are many questions tonight... certainly this will all wash out. What a day, 2 million shares through. I talked to my friend Deeter at the end of the day and said, "turn on your computer, we are about to see some fireworks." I certainly didn't think we would see a million shares go in the last 15 minutes. wow. What a day!!!

If it sounds like I am excited, I am. I don't understand for sure why... I PM's my friend Canseco the following earlier.

" Thank you Canseco for that excellent post with Richard.
I went running this afternoon after the close. I didn't think of much except how cheap is my final buy down going to come? Will I get this in the 40's or 30's if for a brief minute... will my wife allow me to drop a large amount on this one last time?
I'm feeling greedy right now. I can't explain it, I feel relief. I feel we have won the vote. I also think in the next three weeks the buy of a life time will have passed.
Great work with Richard.
take care bud "

Why do I feel this? I don't know.... I know I am a glutten for punishment... Mrs Wallace was right, I should have sold at $3.00. But, we are here now, how do we make the most of it.

A few thoughts, was this the tip of the iceberg in mutual fund sales? If not, I admit we will have some very short term carnage, more fireworks like today. Remember, if it comes, keep your wits and understand what is playing out. If the funds dump, it will be clear this has become very personal.

I suppose one shouldn't be surprised, I suspect there are some mighty big egos running the bucket shops. On top of dealing with brutal markets, one by one these managers have to put a bullet in there best ideas in order to meet redemption calls. Sounds just like getting a margin call.

So, should we win the vote and get sold down, we'll have to get through it. It will put pressure on our management... ie how do we raise substantial money if our shareprice is in the toilet. We may need to get creative. Perhaps we can sustain for another few months before the "flow through" issuance needs to arrive. Whatever the case, we have some good people at the helm.

If it was Sprott dumping today, as Glorieux suggested, one thought that keeps coming back to me is Sprott has taken 10% interest in Pinetree... I think Pinetree is a sitting duck, should it survive all this mess. If Sprott did grab them, they would have to do something with PNP's NOT shares. I know it's a stretch... and more then likely "today was a little bit of gamesmanship from our fund friends."

Keep up the good work volunteer callers.

This to shall pass...

"Chrome is where the heart is"... whether it's 24 billion worth, more or less... the market looks like it's about to put zero value on mcfaulds. It may be irrational, but, it could be an opportunity as well.

One note, don't put any money into any stock that you cannot afford to lose... this is a bear market, perhaps a momma bear market. We still need to sleep at night, and preferably without a bottle of wine or scotch, whatever your fancy. The full retracement of Mcfaulds is upon us. It's difficult to believe, but it is here.

regards

cwallace


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