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: if there is another offer coming, and that's a big if.. is there reason for not

You raise a good point. NOT board started this poker game, and their next obvious move is to push its sp higher than present (above $2) while FWR holders are deliberating. That will create a sense of "loss" if the FWR price lags behind 25% of NOT. I will therefore assume that the Management/insiders of NOT are ALREADY large FWR shareholders directly or indirectly. They try to create a forceful situation where they can even sell some FWR shares as the FWR price escalates, and jointly benefit if there is a counter for FWR. If there is no counter, FWR drops, and NOT's bid or a followon becomes compelling. This has been very carefully constructed, and a key ingredient is at least one more drill/assay release.

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