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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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khareema

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Dennis Sherman

posted on May 16, 2011 11:55AM

Everyone has missed the really important fact here.

They announced this agreement 2 weeks ago, saying it was to be signed on June 2, 2011, after a bit of due diligence was completed. This due diligence has been completed.

Why would they not just proceed to June 2 and sign the papers then? Why is it important to get further paperwork completed now, with additional conditions restricting cancellation? Obviously there is a need to get the deal sealed as soon as possible, and it couldn't wait until the agreed date.

This release doesn't tell us there is no white knight out there. It could be telling us there is one, and they could be planning their move before June 2. Either that, or there is news coming that they can't hold in until that date.