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: Even Wierder
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Something's up about May 2...guys...

I think based on the unconventionaly " early" interest payment date....I think we might have been given another hint.

With only a few days left it seems to me very unlikely that Baosteel will do anything to

increase their ownership in Noront by 10%. If they were to buy shares on the open market

it would result in doubling Not's price at the very least, if on the other hand they demand

treasury shares we would see a huge dilution of 20Mill + shares.I hope not.

Also it seems very unlikely that they will exersize their 10 Mill. options by June 2/3013

which are way out of money, IMHO.

Why this inaction by Baosteel? Have no clue.

I envisioned totally different outcome by now.

GLTA,

Fossil

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