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: Re: About a new NOT offer
5
Nov 23, 2009 12:33PM

It appears to me that Cliffs are playing both sides of the table.

If the current offer by NOT doesn't make it the latest agreement makes it likely that Cliffs will be the only offer accepted by the FWR BOD.

If the current offer by NOT is successful Cliffs will end up with slightly less than 2.5% of Noront as they just purchased more cheap shares of FWR.

AFS

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