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: possible E/A problem

Hi GoodH

The cost you quoted for NOT EW road ($600M) is too high. From what I see (Ref. KWG map) the portion from Hwy 808 to Webequie Jct is $80M, plus perhaps another $40-50M from Webequie Jct to the site. It was originally proposed as a winter road, but the cost quoted above is for a "permanent" year-round road including the bridge (I believe) over the Muketei River.

So, in total, NOT proposal would cost around say $130M which is a bit more expensive than KWG Alternate EW road (~$100M as indicated on KWG map, check with Bruce).

The advantages of the KWG over NOT proposal has been discussed in previous posts.

Also, each proposal would serve 2 different groups of FN communities and this has been discussed previously as well. NOT has support of one group of 4 FN communities including the main one, Webequie. KWG Alternate route would please the second group of FNs, two chiefs for Marten Falls and Eabametoong have been quite vocal, compared to others.

It's all politics. If you want to please all (at least two) groups then build both EW roads (second thought, not sure about that either, since other new groups might emerge with demands for services).

Cheers,

goldhunter

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