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: Strike while the iron is hot

Lets get one thing clear, the Africans can produce all the chromite the world needs at a cost less than we could. That is because their chromite contains pgm's which ours does not ( the chromite is actually a byproduct) I won't even go into the other advantages they have. Until the ore in Africa runs out, or their costs dramatically increase, we will not be able to compete with them, some day this will happen but not anytime soon.

The only reason that the Chinese have any interest in our chromite is that it is part of their general strategy to diversify sources just in case something goes wrong in Africa. Their investment by Boa Steel is part of that strategy but they are not interested in putting any significant money into it at this time.

"We have a willing buyer of all the ores, nickle and chromite willing to put TWO BILLION DOLLARS into building and funding a needed railroad. " We do? Where did you read that?

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