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: Re: Amended & Restated Short Form Shelf Prospectus.............

Diversification, yes.

But with respect to the loans, what about the presence of Baosteel? I'm pretty sure that Baosteel wouldn't let the company be taken away for a song. I'm guessing that they might have already discussed the framework of an off-take agreement. There's more than one mineral in play here, so it's possible that more than one off-take has potential.

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