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: You ready to RUMBLE?????!!!!!!!!

With all the talk recently about the AGM, it seems many have primed themselves up for some big event, when in reality, this is likely to be another non event.

Other significant events that have been diminished into non events:

-- the trippleing of the resource

-- the lifting of the blockade

-- the FWR takeover by Cliffs

-- the SPQ takeover by Cliffs

-- the deep drilling program

-- infill drilling

-- higher commodity prices

-- positive results of preliminary study

-- a 10% position taken by Hudbay of BMK

-- discussions of the Ring of Fire in the political arena

Any of these events could/should have had a positive impact on the share price....none of them have.

More and more, what we are witnessing is growing frustration amoung retail investors. At the same time, management rewards themselves handsomely and institutional investors pick up shares cheaply. When is enough....enough?

I used to expect the share price could move up any day. I've now come to terms with the fact that although the suppression of the share price could end any day, it is more likely that we have some time to wait yet.

All in my opinion, of course

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