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To: Smilor who wrote (744)	2/26/2012 11:08:37 AM
From: agileone	of 5013

Smilor said : ' their only defense ... is to say enough information in the PEA for the investor to understands the magnitude of the value of their technology (7.7 billion strikes the imagination...) ' I agree and I am of the thinking that they might have included the REE in the PEA, even though there might not be enough info to justify it all, at this point, just to reveal the big number, and they might have been ready to remove it, if need be. But now everybody has an idea of what is there, attackers as well as defenders. Also, you have to understand that AMF has been criticized a lot and rightfully in Quebec, after the lousy job they did in 'protecting' investors against scams in the few last years, so they might be a little overzealous, when you exhibit numbers that are mind boggling ...

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To: Terry Maloney who wrote (757)	2/26/2012 11:23:41 AM
From: Whaspe	1 Recommendation of 5013

This is what IIROC offers on the subject: Halts and Resumptions: A trading halt is the temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. The halt in trading allows the company time to release its announcement and for the market to absorb the information. The stock typically doesn't resume trading again until the company releases information on their stock. The decision to halt trading for dissemination of material news in a particular company is made by IIROC. Longer trading halts for business reasons such as non-filing of fees or for detailed review of filings is made by the Exchanges. Why trading halts are necessary Trading halts are based on the principle that all investors should have the same timely access to important company information. A trading halt gives all investors equal opportunity to hear the news and make any appropriate trade decisions (buy, sell or hold) based on that information. During a halt, brokerage firms cannot buy or sell the halted company's securities. A trading halt can be initiated by a listed company, the marketplace or IIROC. When the company involved makes the request, which is often the case, the company has information to disclose about its business or financial affairs that it expects could lead to a significant change in the market price of its listed securities. The company must provide assurance to IIROC that a material announcement will be made imminently after a trading halt is imposed. Length of a trading halt A trading halt is normally very temporary - typically lasting less than two hours. The actual length of a trading halt is determined by IIROC, taking into account the significance of the company's announcement and the amount of time required to disseminate the announcement. Under normal circumstances, trading resumes within approximately one hour following the company's announcement through the major news services. IIROC will issue a trade resumption notice when a halt is lifted. In some cases halts are extended by IIROC to companies to release more complete information. Exchange (Business) Halts Halts longer then a few hours are usually business halts put in place by the Exchanges due to an ongoing review or for a business reason such as non-payment of fees. So whether at the request of the company, or a preemptive move by IIROC, I think the halt is solely for the purpose of reviewing the resubmitted PEA. A business halt in this case seems to fit the description.

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To: Terry Maloney who wrote (754)	2/26/2012 11:32:50 AM
From: Whaspe	1 Recommendation of 5013

The economics for an alumina-only is stated in the PEA. The NAV is $1.7 billion and the IRR is 33%. It is interesting to note that Orbite used an average alumina spot price of $425 per tonne. The current North American spot price is expressed as a range of between $600-$700 per tonne for FOB calcined alumina, 98.5-99.5% pure, on the Industrial Minerals website: indmin.com Orbite will most likely be selling all of their alumina to Aluminerie Alouette at a 10% discount to the spot price. So, assuming we have seen a bottom put in alumina pricing (currently the industry consensus), the $425 seems to be a conservative number.

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