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: Logic or way out in left field?

Re: Logic is Over The Cliff

posted on Jun 14, 2009 08:20AM

Vermillion wrote;

"It has always bothered me that it was revealed as a knowledgeable opinion that while chrome was nice, nickel was better"

It has bothered me also, coming from a co-ceo, even though it is essentially part of his last public statement in that position. Unless we have all taken it out of context. Why would NOT spend 60-70+% of their drilling capabilities over the last winter proving up chrome instead of chasing nickel, if the chrome was not going to be worth the effort without the nickel? Perhaps what he is really saying is that although the chrome is important , and will eventually make us all rich, it will still be small potatoes when we do prove up the nickel. They are now making Eagle1 deeps a priority of sorts, since they have now done a lot of geophysics on it. They will have at least some assays from down south as well as AT 12 and the vanadium strike. Remember that he knows everything, while we are only speculating.

Miskealp wrote;

"Very mixed messages from NOT makes me think that if Cliffs seems small and insignifigant to NOT then they must have a much larger company than Cliffs in the wings"

This is really the only way that what JH said makes any sense. As it stands today, Cliffs is a very significant investor in the ROF. For it to become insignificant will require something of greater significance to occur. Whatever role Cliffs sees themselves assuming as this thing plays out, you can be assured that they intend to profit heavily from it. That is the significant point for you as an investor to pay attention to, as, undoubtedly, they have a lot more information than you do.

Regards

K

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