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: Imminent

Reading the tape and a little guess work and some "gut" feel, FWR will counter with 3 to 1 and NOT will counter-offer with 3.5 to 1 and the deal will be done!

For the record, I think 4 to 1 is fair and 3.5 to 1 is more than fair.

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