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: Financial statements

Hi mynot

You wrote:

.."What is quite odd is the expense line shown for the deep drilling at Eagles nest, it is quite low comparing it to the expense line for the regional drilling expense. (2.6 million deep drill and 4.0+ million for the regional). This is something to look into. Could be we stopped the deep drills some time ago or the diamond driller took a hit on a rebate per contract??

I maybe wrong, but I think both of the Deep Drills were stopped months ago because of a malfunction in the machinery, due either to the machines themselves, and/or the operating crews, who evidently were not up to this particularly difficult job.

These two Deep Drills may have been restarted just recently. Don't know.

Please someone correct me if I'm wrong here.

Jacki

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