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: RR or road

"Big money will Not enter into ROF until there is a Firm commitment for a RR"
That is your opinion but forgive me if I do not share it because that is not the end of the story.

The railway will not create revenue but will facilitate it. It is mines that will create revenue.

But big money already entered the Ring. Granted we can say that Cliffs came and went.

But Bao came and is participating in it's way. Again it can be said that Bao came but did not throw in any large sums to make a big difference.

I say the road comes before the railway and it will make a big difference for Noront and the native communities. And if big money should come in then I will be slightly disapointed because I hope and expect that Noront goes into production without being tied up by big money or being bought out.

My biggest hope is that Noront going into production will not only be valued much more but will have access to more funds and be able on it's own, or with a little help from likes of Bao, to buy some of it's neighbours or JV with them. This to happen before the railway is completed and all of the others in the Ring have a chance to valuate significantly.

That is how I differ and hope. ed.

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