Comparing Scoping study against todays prices

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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djo

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Comparing Scoping study against todays prices

posted on Aug 01, 2009 10:40AM

After doing a partial reread of the study and comparing the price of commodities, as of the current prices. The numbers are awfully close to being the same as when the study was done. I.e. in the study it was noted that based upon Oct. 17th 2008 spot metal prices were as follows. NI $ 4.68 Lb Cu $ 2.13 Lb. Au $ 784.50 Oz Ag $ 9.56 Oz Pt $ 856.00 OZ Pd $ 1.72.00 Oz and an exchange rate of $1.1904 U.S.

It also says that at these prices NOT would need $ 4.50 for Ni to break even. So in the surface it bodes well for NOT by adding any extra tonnage, because as we are aware all of the aformentioned prices are signifigantly higher today .Let alone it would appear that a signifigant portion of the costs,could be borne by different levels of Government,therefore reducing the costs as set out in the study.Everybody have a great long weekend.