ANL,

We do not know what the particular matter was of the standstill agreement.

All we know is Noront was not allowed to go to other folks for (Big Question Mark) until deadline May,2, 2013.

It could have been something like we are interested in providing all money to finance the mine and in return we get the chromite....but we want to make sure infrastructure commitment is know.

Back when the original agreement was negotiated it could have been assumed that infrastructure announcements would have been already made public and Baosteel and Noront could tidy up all the numbers.

This is just one example of what the subject matter of the standstill agreement could have been.

Noront never detailed what the particular matter was ...so we can only guess.

Whatever it was....it appears it did not interfere with the RCF involvement