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: june 22 good riddance

"By itself I wouldn't count on it. He may turn out to be a great CEO but frankly I don't see any fireworks attached to him".

And there probably won't be for a while. What we have though is a new chapter in the book to come. We now get a glimpse of where we are headed. Speculation now could turn to the thought that the intention all along has been to aim towards taking this thing to production ourselves. Maybe we have had several majors asking around, but no interest from NOT BOD, as they have no intention of selling any time soon. It also follows that we could now see the start of diverging paths for NOT and FWR, as one would be aiming for a production scenario, while the other is gathering assets to encourage a takeover. Then it would follow that there would be a parting of the way for shareholders who would hold for production, and the ones who are hoping for a takeout. Interesting times coming.

Regards

K

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