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: Nothing?

Our nickel ore is so rich, therefore profitable, that market for nickel has little to do with it. Yes little because the market has not disappeared but merely receded a bit. That decline is mostly in the west, China by western standards is still in a go ahead status. Growth declining from 10% to 8, even if 6, is not a catastrophy.

I said it before = Should the commodities markets decline to the point of half the mines for nickel in the world closed our Eagle would still be very profitable.

Where there is a major decline is in the west's financial machinations. That influences investing in shares and a partial reason for the decline in our share price.

Do not confuse markets for raw materials (ores) with market for stocks and other financial type investments.

As for Wes if he has expenses then the best way to pay for them is to raise the sp and take in some profits on some of those options.

But to raise the sp managemnet would have to roll up some sleeves and perhaps not feed so much at the trough.

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