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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gross margin

posted on Nov 23, 2009 07:43PM

The question of gross margin was raised at the Q&A during Cliffs webcast.

They seemed to have an answer to just about everything but that question.

How can you make a bid for a company and not have an idea of gross margin?

Given the cash offer Cliffs made for FWR shares I can understand the hesitation to answer that question. Answering it would make them look like greedy.......@@!!.

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