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: Re: Questions????
10
Jun 07, 2012 11:49AM

As I was involved, Dennis, I will try to respond to your questions.

1. I was the one who removed four posts regarding inappropriate political statements. Likely yours should have been removed also, but as you had apologised for it's content, I left it. I see it as flagged, but not removed. You likely did not see the other posts, as I removed them almost immediately. Removing posts is not something lightly done, and I have acted only maybe two or three times in the past. I am not comfortable doing so, but in yesterdays instance, it as justified.

2. I think you misunderstand the reasons for the delay with the feasibility study. In particular, the study involved utilizing the east/west route, and likely a proposal to fund it. Since CLF came out and proposed the other route, and the prov stated that they would support it, and then asked the feds for further support, Noront opted to withhold their study until there was a clear path going forward. If things work out as CLF proposes, it will ultimately save Noront several hundred million in startup costs. Why not wait? They have stated it will not delay eventual start up timetables. Why phone them up and offer to help pay for it? Remember, this is your money being spent.

As it stands the ball is in the gov't's hands. They have actively asked for fed help, and the next step is a response from the feds.

Regarding drill results, your guess is as good as mine, but I am assuming they found nothing.

Best regards

K

4
Jun 07, 2012 02:08PM
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