Milsy....I'm with you!

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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Canseco

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Milsy....I'm with you!

posted on Jan 27, 2009 07:19PM

Milsy,

- As you said, regarding the takeover bid for UTS, the operative phrase is " cash strapped" .........Noront certainly is not in that situation.

- Also, UTS has obligations......."investors questioned the company's ability to finance its share of Fort Hills."........ again, Noront is not required to spend on any major joint project.

- It remains to be seen if any competing offers surface for UTS.......as I expect would in any takeover attempt of Noront.