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: please break down noront's valuation for offer = $.93.

The warrants are good for 5 years. So the warrant allows you to buy 1 stock for each warrant at 4.00. That means WHEN nots SP is 10.00 you can buy the warrant and you have made 6.00 profit per warrant. Hope that helps.. TTY

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