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: More thoughts on NOT/FWR Offer

Without getting caught up in semantics or who might be knocking, FWR would need to be able to say that party had legitimate access to whatever info a bid was to be based on. That would especially apply to CLF, who obviously have been close enough to have both inside and inately superior knowledge. CLF's geologist did not simply take the wrong train to work one day and accidentally end up at the FWR offices. But it would also apply to someone like Arcelor who could make a serious bid based on their association with CLF. Mac is astutely running the bases, with all the signals being sent from the legal bench. NOT would have anticipated all this from the outset, so are we actually watching two masterminds in an exercise of Duplicity, wherein the purpose of the heat and orchestration is to draw the real serious bidders into the RoF bidding now ? Further drilling at this point may be worth much less than a heated auction containing a surprise package of future RoF goodies that everyone would want a shot at. Very compelling grab bag for any fully integrated major.

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