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: This is NOT what we want. UTS - unsolicited offer at 51% premium

All this talking tough about how we could prevent a takeout....similar to that of ARU and UTS....quite frankly, this is how I see this playing out..

First we have the secretaive nature of exactly what is going on behind the scenes...news releases which are vague at best....many pieces missing from the puzzle

Then we have what appears to be share price manipulation......what appears to be a deliberate attempt to suppress the share price.....stock dilution, granting of options and spending as if no commodity crisis exists

Let's keep this in mind......the current board likely has 50% + 1 on side now, and if not now, then in the near term.....therefore, us retail can scream and shout all we want, but the best defence we could mustar is 40 something percent

As long as the share price continues to be depressed...as long as this secretative nature continues.....as long as this slump in commodities continues.....as long as we keep burning cash.....the door will be open for such an offer at a healthy enough premium that the board could make a legitimate case for getting a fair price for this jewel, regardless of what retail think

Then they will move on to their next project

Hoping I am completely off base

Too bad......so sad



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