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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Thank you Sculpin.

Never heard of this fund. This, to me is very interesting development.

Could it be that they are assembling (Accumulating) shares in order

to sell them to Baosteel after may 2/2012. They got close to 23 mill. shares.

If they get .80 to .90 a share they could cross them and make decent profit.

Baosteel, on the other hand wouldn't have to push the market to much higher.

If Baosteel then chose to exercise 10million warrants @ $ 1.16 it will altogether

give them 25% of Noront for mere 50 miilion dollars.

IMHO.. this is biggest development since the ill fated announcement:

" EAGLE TWO HAS LANDED"

GLTA,

Fossil

P.S. RCF did NOT have to report until they went over 10%.

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