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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That is my understanding too. If at least 20% do not elect to retain, Wyloo will buy out all share - whether they elected to retain or NOT (aka, the Squeeze Out).

As it stands, 8.6% have elected to retain, so it would appear the squeeze out will happen - unless another 11.6% elect to retain.

Cheers,

Hobbit

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