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: Conference call---Hoov's highlights
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Icon president Conference call---Hoov's highlights
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hoov
Dec 08, 2009 10:01AM

re: 8)

What CLF said in Nov.

Cleveland Ohio Business News
November 23, 2009

Carrabba said taking over Freewest's mineral rights will kick off a five-year process that he expects to cost as much as $800 million...
Most of the $800 million that Cliffs expects to spend would come in 2013 and 2014, he said. He added that Cliffs may have to raise cash or take on partners in a few years to pay for the project.

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