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: So Mr. Chromite of Feb. 24 arrival...

I think the reason there has been a fair amount of speculation on this forum regarding where NOT stands with respect to the "blockade" is because no one seems to know or even come up with a plausible explanation. With the dribbling away of the SP we have seen, people are reaching for explanations.

As I have said before, I support the strategic stance the BofD has taken with respect to FN relations, but based on the info available to us, wonder about current tactics. We can hardly expect a play-by-play from the BofD, but until the smoke clears there will be lots of chatter on this topic.

I believe most of this is caused by honest concern, but who knows? Maybe sofbashers are moving in to take advantage. Right now, we have no choice but to keep our heads straight and exercise patience.

Best to all NOT longs,

O.F.

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