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: Cliffs

Cliffs at one time bought FWR for about $270 million and Spider for about $125 million

Noront picked those up for about $26 million

Perhaps, Cliffs only allowed Noront to hold those for a bit, until they got back on their feet.  And perhaps....Cliffs, who is familiar with the area, comes back in and takes out Noront....the whole thing....for about $100 million; which would be a good premium to today's price.

And in the end...it is Cliffs who get the last laugh.

 

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