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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"So the chances of a second round strategic development by Xstrata are slim to none except thgrough a $20 billion plus takeover of CLF."

Not so fast, RR.

Why would they have to take out CLF. I refer to the fact that CLF's holdings in the ROF are through wholly owned subsidiaries, FWR,SPQ, and to a lesser degree KWG. A decision to throw these assets into a pot, have someone else take out NOT, and agree to spend a billion on infrastructure, in return for 50% or so of that pot, is feasible.

One thing for sure, if and when whomever does proceed with development of the area, they will have control of the nickel, as well as the chrome, and likely the copper as well.

Best regards

K

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