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: This is painful to watch....

Yes, it is painful to watch. My spirits are slowly sinking as our stock price bleeds. My bugbear is a world-wide economic collapse, which is not as far-fetched IMHO as most people think. Yet, the markets are moving generally upward and commentators find much to be optimistic about. So. NOT's share price slide must be unique to the company. Even FWR is holding its own considerably better.

I believe we have the goods in the ground. Management is probably well above average in astuteness. Highly qualified people have recently been brought on board. It is hard for me to believe that these people have entrusted their (short-term) economic well-being and reputations to a dud.

I guess patience is the watchword! This can't last much longer. Can it?

Best to all hopeful NOTsters!

O.F.

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