Cliffs down over $4.00

Snippets of the discussion regarding Q-3 Results/Earnings pertaining to ROF

-despite significant potential..delaying major capital outlays

-could result in push of production target date beyond 2017

-expect to complete feasibility stage of development and environmental assessment by next year

-decided to shelve early work plans until feasibility study is complete

-then will assess the study findings, industry conditions, cash position and outlook before moving forward

-we will continue to explore the option to take on THE partner for the project

continue to develop our relationship with Province of Ontario

This could have big ramifications of near future of the ROF

Dennis