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: Acquistion of Cliffs camp
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Why do you assume the deposit would be 50%?

Thanks for the inquiry MDog,

Because this would be a clean figure to put on the balance sheet if 2 equal payments were made, so this is still an assumption.

And I would hope that it is not a 25% deposit - which would then put the overall cost at around $ 750,000.

IMO, less than half a million for Cliffs camp sounds more inline.

Since we can't seem to get the figure directly we are forced to glean what we can from the financials.

This is again is an assumption and certainly a topic open for debate.

mynot

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