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: Real money

Noront BOD are no different than babysitters for the Ring of Fire, A. BHP is the rich uncle whose willing to help out, but with strings attached. Forrest. Well, he wants to be the ever present, over protective parent, who wants what's best for everyone. So long as he has total control of the family and all of it's assets.

So...Really...IMO....BHP too, just like the New Noront shareholders, will be along for the ride; offtakes secured. The time spent now negotiating has allowed BHP to improve it's postion slightly, but I see it going nowhere until after the threat of Forrest's proposal is felt. At that point in time they will either say "Uncle", or come out swinging.

TM.

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