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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cash valuation

posted on Nov 20, 2008 06:23AM

If proxy is successful we will have approx 40 mil cash. This translates to .25 per share

If proxy is not successful we will have approx 20 mil cash. This translates to .15 per share.

We are fortunate in either case that we do have cash value and no debt. We will be fine with prudent decision making.

BK

ps. I hope others will check my numbers. These are very rough.

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