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: cliffs chromite

Cliffs is in because the Ring has the only chromite worthy of economic consideration on this continent. They are americans and chromite is a very stratigic element to them by virtue of its scarcity in N. America. Cliffs being a notable steel company needs that element for production. It is a natural progress of events for them.

To a lesser degree same applies to Baosteel, except to them it is a matter of assured supply in a tempermental global market, I have south Africa in mind here.

As for Wes, I do not think that government in-action was the cause. I still think that he was willing to be a figure head as long as things were progressing smoothly But when things started to slide he got tired of our Board. No one here has said anything to convince me that there is a more valid reason for him leaving. Everyone has his limits of reasonable behavoiur. Had frustration with governments was Wes's leaving then I am fairly certain that we would have been told so. Silence for cause has to be the Board as the reason.

That is my 2 and a half cents worth and am sticking to it, Ed.

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