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: Lack of money isn't Attawapiskat's problem

"Then you hear someone such as Ontario Regional Chief Isadore Day say “What if even just 25% of the profits from the diamond mine [90km from Attawapiskat] went to the First Nation, do you think they’d have a new school? They might have two or three. Do you think they’d maybe have a swimming pool for the kids? I think so.”

Is that true? What does Day call profits? As far as I know DeBeers is still paying off the capital invested in building the mine that is why they have not been paying the government any royalities. I think Day is talking about cash flow and if DeBeers had to hand over 25% of that I doubt if the deposit would have been economical.

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