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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I don't think anything nefarious is going on with regards to Dr. Mungall's employment (or lack thereof).

He was a consultant prior to the proxy fight. Richard Nemis negotiated employment for Mungall and Novak as part of his 'stepping down'. Their contracts were not renewed in May.

I believe Dr. Mungall is still considered a very valuable asset as a consultant. The fact that he's no longer on the payroll should not be considered a negative.

IMHO

Snug

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