Where are we now?

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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From_Sudbury

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Where are we now?

posted on Dec 09, 2009 09:27AM

Starting with this latest so called news release, I believe it's already been pointed out that this small section of Rhodium, PT, PD is just a rich section within a broader section that was already announced. In fact, the real story here is that the resampleing resulted in slightly lower grades of PT and PD over that 22.8 M section. To prop up the news story they've included the Rhodium and concentraded sections of the PT and PD (note they did not give us the exact section of those results; likely something within the 607.6 to 613.3 section).

Also, as already pointed out, back in 2007 they were to have a program in place to regularly check for Rhodium....and that's pretty much the last we heard from that.

At this point in the takeover battle, we need some real news. Rather than the following comment in today's news.."Drilling results continue to expand the size of the Eagle’s Nest deposit and have definitively filled in all remaining gaps along the vertical length defining the mineralization to depth to below 1,000 metres."...which we already knew from the last news release, give us some numbers as far as how many meters down we continue to hit mineralization.....they've now had these 1500 meter drills on sight for some time now....time to give us something.

Now, having said that....my impression of what's going on now....is that NOT has some real news....such as how far down in meters the deposit runs; perhaps still open at depth...and/or something out of AT-12 area; again, been doing alot of drilling over there without any word. So following up on that....they now wait for Cliffs to up the bid; then we get the real news.

This to me was just a decoy to draw out Cliffs next move...then hit them with the barn burner if needed (hoping there is a barnburner).

On another note, I did listen in on the live feed yesturday...and wow; quite one sided indeed. Seems people will either tender to NOT or hold for a higher offer from Cliffs. After this Friday, that second option may be too late. I'm anticipating that either Cliffs raises their offer or NOT takes greater than 1/3 by this Friday.