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: Consolidation
I don't see NOT ever becoming a chromite miner. Not sure it will even get to develop Eagle Nest. The day that the FN/Infastructure issues are formally addressed the ROF is going to be in play for the majors. And majors like clean ownership situations so they can structure the subsequent development the way they want to. Total control of the chromite resources would be a big plus. The more consolidation occurs in advance the more attractive we become and the more we are worth. With consolidation comes simplicity in moving this whole area forward and I think a merger with KWG essentially wraps up the area.

.... Been There PS. Never have and don't own any KWG but I do hold a pile of NOT
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