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: Mac Watson: "It's huge dilution. I don't quite understand it really,"
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Basicly, Freewest bought Cliffs offer.

Cliffs, if seriously interested would not make offerings that match or barely surpass Noront's, they are capable of taking it out in one swoop.

I think they are waiting to take all of the chromite assets in the Ring and do not want the price of them to appreciate too much until they do.

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