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: About a new NOT offer

About a new NOT offer

posted on Nov 23, 2009 12:33PM

About a new NOT offer of say 3-1 and not touching FWR other assets. Because of the $6 million penalty, FWR's Board has basically shut the door on NOT and any other suitor. If another suitor were to come along and offer the FWR board a better deal than Cliffs, the first problem would be a $6 million cost as that is what Cliffs has done to ensure the FWR board does not deal with another friendly offer.

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