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: Just a thougth regarding 80% ROF
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I have to believe that when Nemis refers to covering 80% of the ROF he is talking about geographically. If you consider the JV's, for example, where Noront holds only 50% interest, then you quickly start reducing the total financial interest that Noront holds.

The 80% figure has to be a reference to the geographical covereage controlled by 'friendly' hands.

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