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: GOING (for) BROKE

Dennis, very important to follow the BHP potash debate (build in Canada vs takeover POT), a direct response to Henry supertax. Ontario and Canada are heavily influenced by Australia and unlikely to provide the assurances to majors required for multi-billion investments. Aussie effectively said "just trust us" but the law says their new cap nvestment risk will be computed at 5-6%. Because this confusion was built into the original Henry, and never clarified, majors assumed Henry would not be implementd. Boy, did they get f'd. You must read at least The Australian daily to see how big an issue this is. If you are considering a bigger investment, track down and read at least a summary of Henry.The majors do not pontificate, they reacted instantly. Unless NOT has a friend in the forts (Ont and Fed), we need to bunker down and wait for some significant fix on Ontario and Fed mining and taxation policy. All the flow-throughs in the world don't interest the majors. Taxation trumps resource and we need to be pro-active.

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