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: Re: Management’s Discussion and Analysis - Highlights

A few points I have noted:

1. This is a good summary of where we are with respect to all of our projects. Therefore very helpful - especially for the new investor who needs a handle on what is happening with this company.

2. We are in for some major dilution of share value going forward given this statement:

"Although the Company has sufficient capital resources to meet its current obligations, the Company will need to raise additional funding to finance future exploration programs. The timing and ability to do so will depend on the liquidity of the financial markets as well as the acceptance of investors to finance resource based junior companies, in addition to the results of the Company’s exploration programs and the acquisition of additional projects. At this time, the Company is not anticipating an ongoing profit from operations, therefore it will rely on its ability to obtain equity or debt financing for growth."

3. Cost of the Dissident Proxy fiasco: $896,762 - what we do not know is whether Rosseau ponied up any funds? (doubt it)



Personally I am encouraged with this release - it is a great tool to get a comprehensive view of what we have. The reality is we are looking at a long term project here. Perhaps all the "easy money" has been made - but deep down I would like to see those drill bits get into something sweet to add more interest to what we already have. The market is saying, "What have you done for me lately?" The answer is not in this release - but hopefully it is in the next drill core!





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Dec 30, 2008 03:43PM
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Dec 30, 2008 04:37PM
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