Ring of Fire Mining Camp

Welome back, its been almost a year

2010-12-01T11:09:00.000-05:00

exploring is what those guys in ROF do, and so also, on our Radar we have lots of explorers like FNC.V,
FPX.V, NRN.V, that were / are involved in.

Action is seriously heating up in the BC PM explorers, as assays come back and EVENTUALLY are are sorted out into press releases, good, bad n indifferent for the markets to sort out.. Some of them are showing "Head-Fakes" of seeming to be bad BEFORE they ACTUALLY release them, a reverse pump and dump. I think
DEC.V is in that group.

Contacting FREEWEST SHAREHOLDERS

2010-01-18T10:54:00.000-05:00

who are not members nor read any major message posts, should if they wish their NO VOTES tallied, please contact Serge Brunete at a dedicated email account for that purpose: ffom@live.ca. This msg is brought to you as a service of the RING Of FIRE Mining Camp Blog, in the interest of facilitating fair offers freely arrived at, for all shareholders in Ring Of Fire Companies, and specifically FREEWEST Stockholders.

Stock in companies who would fail to realize their value in finance and stock markets are the ones who suffer most, when the Investing Public fails to become fully aware of their share in the profits available to them.

Explorers in the RING of FIRE have found deposits chrome, copper, nickel, paltinium, diamonds, palladium, gold and silver that bear serious investigation to determine their true value, which, IMO, would be prematurely terminated by immediate acquisition. I find myself more in favor of joint development but that is not a model often used, but worthy of consideration.

QSC letter, posted for the FREEWEST FREE OFFER MOVMENT

2010-01-12T11:20:00.000-05:00

Readers, and FREEWEST shareholders are free to send this letter to the QSC, concerning two major issues surrounding this attempted acquistion:

Quebec Securities Commission
800, square Victoria, 22^e étage
C.P. 246, tour de la Bourse
Montréal (Québec) H4Z 1G3
Phone: 514 395-0337
Fax: 514 873-3090

Elsewhere : 1 877 525-0337

Bureau de décision et de révision en valeurs mobilières/Hearings

M^e Cathy Jalbert Lawyer

500, boulevard René-Lévesque Ouest
Bureau 16.40
Montréal (Québec) H2Z 1W7
514 873-2211
cathy.jalbert@bdrvm.com

RE: Freewest Resources FWR TSX.V

Dear Sir, Madam:

We are a large group of FWR shareholders who have recently formed The FWR Fair Offer Movement also known and herein referred to as FFOM.

We come before you and request that you redress the following two complaints:

1/ We have not been provided, with an independent valuation of our companies assets in a timely manner, rendering us unable to make a proper decision as to their disposition.

2/ The company attempting to acquire FREEWEST, has in violation of a “HOLD STILL” period, acquired substantial shares to vote in their own interest.

WE THEREFORE REQUEST THE QUEBEC SECURITIES COMMISION DECREE THE FOLLOWING:

1/ Provide that an idependent valuation of shares, in the form of a NATIONAL INSTRUMENT 43-10 be in the hands of all shareholders a minimum of 30 days before any voting can be tallied or decision to dispose be arrived at thru a vote of said shareholders.

2/ Prohibit the voting of any FREEWEST shares acquried by CLIFFS

their partners, officers of allies AFTER November 22, 2009

Specifying the procedures and conditions above will allow a free and fair vote equitable to all parties, bestowing no unfair advantage upon either.

Pursant to discovery of a world class, possibly the largest and purest deposit of chrome ore in the world, we have requested and been denied

a through and independent evaluation of this deposit, in spite of two competeing offers by other companies for FREEWEST Resources.

We believe that fair play requires we have this submitted for our use long before we are required to make a decision upon the disposition this deposit and possibly the entire company

This deposit is described by Ont. Minister Grazelle, as not only World Class, but also comparable in value to the Sudbury deposits, in terms what richness and jobs and development they will bring to Northern West Ontario. By Cliffs own calculations, they advertised that they would add $1.5 Billions dollars$$ per year to their bottom line sales, between 50 and 100 years.

OUR FURTHER COMPLIANT IS THAT Cliffs “ did improperly and likely unlawfully exercise 6.9 Million shares on Dec 11/2009 at a price of 60 cents,

In light of the HudBay Minerals VS. Lundin Mining, acquiring or excercising warrants to acquire AFTER an offer, friendly or hostile, during a HOLD STILL period then in effect, is in fact, wrong and illegal, according to the HudBay precendant case.

The facts are that this occurred AFTER CLIFFS made an offer to FWR of 90 cents,and therefore have “hold” period to Mar 30, 2010…Also on December 01/2009, Cliffs also was awarded/excersised an additional 7, 375,000 shares of FWR at 45 cents, and therefore it has the same “hold’ period.. Since no funds not already in FREEWEST's treasury have been spent on ”proving up” more discoveries in FWR properties, we see the only pointof that placement as giving CLIFFS more share tovote upon acquisition on of FREEWEST. WE know they sent 400 assays for PGEs, wew know they drilled and found Ni CU Pges but not a single word about all these new findings….The vote on said Cliffs offer is scheduled for Jan 25, 2010., and they will vote those 14 + million shares for their own interest.

Therefore our complaint is that Management of FWR ais withholding very important information about our “true value” and that certainly cannot stand…Their first duty is to FREEWEST SHAREHOLDER.

The second Complaint as outlined above deals with the voting rights of these very recently acquired 14, 483 millions of shares…which as outlined below in FWR News Releases have a hold period until March 2010. But more importantly, the law has now been established in the Matter of Hudbay minerals copied bleow,with regards to these cases . .

“that HudBay has agreed to vote the 19.9% of the common shares of Lundin acquired by it pursuant to the private placement, in favour of the Transaction. In our view, HudBay has a different, and potentially conflicting, interest in the outcome of that vote, relative to the other Lundin shareholders. In our view, having acquired those shares as part of a private placement connected to the Transaction, HudBay should not, as a matter of principle, be permitted to vote them in favour of the Transaction.”

In the same way in this case Cliffs has potentially conflicting interest in the outcome of this Cliffs vote, relative to other long time FWR shareholders, since on average only paid less than 50 cents for these new shares, on a private placement directly connected to this transaction…In this Cliffs should NOT be allowed , as a matter of principle , should not be allowed to vote these shares in favor of their agreement with FWR.

Unlike HudBay, we are raising this Cliffs “voting shares” issue now, so as to inform the Courts that we are totally against this so called agreement with Cliffs, and that we strenuously oppose Cliffs voting said 14 Million plus shares for their own Offer, in which we FWR shareholders had absolutely NO say in it at all.

DECISION OF THE ONTARIO SECURITIES COMMISSION
IN THE MATTER OF HUDBAY MINERALS INC.
AND
IN THE MATTER OF A DECISION OF
THE TORONTO STOCK EXCHANGE

F. Additional Comment: HudBay Voting of Lundin Common Shares
[49] As an additional comment, we note that HudBay has agreed to vote the 19.9% of the common shares of Lundin acquired by it pursuant to the private placement, in favour of the Transaction. In our view, HudBay has a different, and potentially conflicting, interest in the outcome of that vote, relative to the other Lundin shareholders. In our view, having acquired those shares as part of a private placement connected to the Transaction, HudBay should not, as a matter of principle, be permitted to vote them in favour of the Transaction.
[50] We recognize in expressing this view that it is probably a foregone conclusion that the Lundin shareholders will approve the Transaction regardless of whether HudBay votes those shares. This issue was not raised in the Application and, accordingly, was not addressed by any of the parties in their submissions. We are not making any order or determination based on this matter; we are simply expressing our view.

Thats not polite to use those words in public, might scare the horses......!!!

2010-01-11T18:03:00.000-05:00

BIDDING WARS ! Yes Virginia, someone actually said that out loud in this article @ :Reuters "BIDDING WARS" article.

A brief scan and read of the M & A activity for the last year, would indicate that "Daddy" CLIFFS might be in for rough sledding even as much snow as they have in Webeque, Ontario, as they try to lay in enough votes to take down FREEWEST RESOURCES. CLIFFS is clearly bigger than FREEWEST, but like a possum getting ready to grab some nestlings out of a tree over bayou, a possum is so bigger, but the Bayou is BIGGER, and harbor to hawks and alligators so any misstep will not only loose them this prey but perhaps cause the possum to be eaten. Now no one expects CLIFFS to pay possum but if there is one group not playing possum its the FREEWESTFAIR OFFER MOVEMENT, which is working on
closing in on enough votes to send CLIFFS Back to the drawing board as the move to secure mining assets heats up. No one knows what will happen if CLIFFS fails to get the giant chromite deposit of Black Thor, but we do know FREEWEST will go one exploring, since apparently there is a ' Beast of a Nickel Deposit" directly in their area. Whether its copper, nickle, platinum, palladium, chrome, diamonds, gold, silver or other stuff that is held in the Iron Triangle grip of FREEWEST, FANCAMP & Big Daddy JV, the action in the
RING is catching FIRE

CLASSICAL ECONMIC'S, - ECON 101 -> Historically speaking

2010-01-11T10:05:00.000-05:00

Classically in economic's, once a commodity or mineral became MORE AVAILABLE, its uses and markets expanded. Therefore uses for STAINLESS will expand and their [ CLIFFS ] marketing and promotion will help the steelmakers expand the stainless makets. Maybe ships will be next? Imagine a use for stainless that has as yet not been developed due to the economic penalty for using it. Everyone wants to use MORE Stainless, not less but so far, competition from other materials has been one factor holding it back. With the exploitation of BLACK THOR that will begin to change, IMO,

Given all of the above, it is quite possible that obtaining the BLACK THOR and maybe associated deposits, could over time, help CLIFFS double its financial size and power, IMO.

So many things in economic history have expanded markets as it became cheaper and available, th at it seems unlikley that this will perform in any differing fashion.

Remember the "DeLoran", that stainless skinned car? Maybe plastics will remain better. Hard to emphasize how much steel shipping uses, imagine the tonnage of plate? No doubt technological challenges would arise, but of course that is what engineers of all kinds live to resolve. Humanity moves forward, inexorably....... As with the chart above, as the blue line moves to the right, and the supply of stainless increases, the demand for it will increase also if we graph the price.............thats my idea of what could happen here. CHROME, Stainless, steel, all steelmaking minerals. Cliffs has coke, coal, iron pellets, Soon it could have all the components to suppy the stainless steel Markets. Cliffs Natural Resources. Freewest Resources, Spider Resources, KWG Resources, Probe Mines and FANCAMP Exploration all have the necessary stuff for cliffs to do that with. Lets see who gets offers.............

What is happening, what it means

2010-01-10T20:42:00.000-05:00

Image via Wikipedia

Norilsk I mine (medvezhji Ruchei, 'Bear creek', 6km south of Norilsk)
Atokite Bornite Cooperite Godlevskite Millerite Platinum Sphalerite Stannopaladinite Taimyrite Vysotskite.

Platinum

Large intrusions such as in the Norilsk almost always have an extrusive component. This means the magma breaks the surface. Not far from Norilsk this happened. Here you see the impressive Putorana mountains. A tremendous formation of basalt, which takes about 1 hour to fly across. Rivers and ice eroded over 600 meter deep canyons in this so called basalt trap.

OK so here is what we have, and what we know:

News Release for drilling on BIG Daddy, Jan 7, 2010

January 7, 2010
SPIDER RESOURCES INC. , KWG RESOURCES INC. AND FREEWEST RESOURCES CANADA INC. ENCOUNTER CONSISTENT CHROMITE MINERALIZATION AT BIG DADDY; RARE NICKEL MINERAL DISCOVERED SUGGESTING NEARBY SOURCE FOR ACCUMULATION OF NICKEL

SPIDER

Neil Novak, President of Spider Resources Inc. states: "We are extremely pleased with the consistency of the drill results we are receiving from the Big Daddy Chromite Project, that are all typically in excess of 40% Cr2O3 over very good widths. The discovery of the nickel mineral godlevskite is intriguing, particularly as its' source is considered proximal to Big Daddy, perhaps within only a few hundred metres."

SPIDER

A sample of the sulphide mineral selected for petrographic analysis was determined to contain an alteration assemblage of minerals including godlevskite (Ni9S8) along with veining of mackinawite ((Fe,Ni)9S8). Dr. James Franklin (director of Spider Resources Inc.) states: "This is a very low-temperature assemblage, and probably represents hydrothermal transport up a shear system from a more substantial Ni accumulation", Dr. Franklin continues "this explains the very high Ni contents, as it contains nearly 60% Ni."

Another part of the SPIDER NR reads : "- Hole 33, after passing through 11.0 metres that averages 40.29% Cr2O3, entered a narrow nickel sulphide filled fault zone that averages 2.74% nickel, 0.12% cobalt and 1.04 g/t Pt+Pd over 1.0 metres. A sample selected for petrographic analysis as determined to contain a low temperature alteration assemblage of minerals including godlevskite along with veinlets of mackinawite which infer a possible nearby primary nickel source."

NORONT

Discovers pentlandite in its discovery hole in 2007.

NORILSK

Godlevskite and pentlandite found in orebodies.

VOISEY'S BAY

Pentlandite found in discovery hole

So now the SPIDER - KWG - FREEWEST Joint Venture which contains Big Daddy, has a suspected complex that contains godlevskite,and indicates it may flow into a terminal resorvoir of nickel, either in the that series of claims, or Freewest, or Probe, or Fancamp. Now CLIFFS has 19.9% of KWG, none of SPIDER, and some of FREEWEST, but knows exactly all the metalurgy that has been ongoing with FREEWEST's claims.

Logically speaking, it is more likely than NOT that the Nickel is traced. To the East, the length of the claim to the east is about 1 KM, so the Nickel could be the "beast to the east" or "go west". While I cannot discern any actual transit routes, given the NE to SW direction of the layout of the chrome deposits, IF the Nickel lie in the same trending, it could well end up on Fancamp's Claims. All guesswork at this point, unless you have the inside track with a geo or diamond driller out there in the James Bay Lowlands Bush.

By this point I think it reasonable to assume that all the Majors are sitting up and paying close attention, as

well as CLIFFS is no doubt tuned into FREE WEST RADIO, and getting a looud and strong rejection signal.

Whats it going to be: Copper ? Silver? Chrome ? Diamonds ? Nickel ? Platinum ? Palladium ? I guess there has not yet been any coal, phosphates, oil, nat gas, or potash discovered there yet, but needless to say, none of that would surprise me.

Who knows what : Every major, every resource writer, all the juniors and staking stampeders, all know what has been revealed as found in the diamond drill cores. At some point the "Voisey's Bay Syndrome" of not entering competing bids will fail to hold, and just like OPEC, the guys who want the advantage the most will start the bidding for all these companies.

What we know: That there is a lifetime deposit of Chrome on FREEWEST property. We know that the same minerals discovered in Voisey's Bay, and Norilsk are present in the RING of FIRE. We know that Neil Novak, pHD, CEO of SPIDER, thinks that there is a source of nickel "nearby", refering to hole#33.

As a speculator, rather than a geologist, as a strategist, rather than a fundamental analyst, I would say the leading Prospects here, are Probe, Freewest, KWG, Spider & Fancamp, for finding Nickel and other minerals in economically feasible quantities and situations, here in the RING of FIRE. My guess is that there is much lots of volume here as the BIGS start to move into this area to hedge their bets long in the metal sector. All but FREEWEST are dark-horse candidates, but quite intriguing.

Today they call them Explorers, in the past they called them STAMPEDERS

2010-01-09T14:41:00.002-05:00

as they followed from strike to strike, trying to lay in the BIG CLAIM, once DISCOVERY CLAIM had been hit.

In this case, since Voisey's Bay attracted all kinds of people from presidents to pond life, its not surprising that many who missed in VB, were determined to hit the NEXT BIG ONE.

A very experienced Geologist once said to me, "When they take the core out, sometimes the specimen is too obvious to be able to hide what it is." And at that point, you know the word is out ! ! !

I am exactly sure that is what ran thru Richard Nemis's mind when he saw the core containing Pentlandite from the hole of the Double Eagle Strike "THIS IS THE STUFF THEY FOUND IN VOISEY's BAY ! ! ! "

Now that SPQ has pulled a core of "GODLEVSKITE" from its latest sampling that is located within several hundred meters of the surface of Big Daddy, their JV with FWR & KWG, they noted its rich nature, as it could contain a maximum of 64% Nickel -> Look here :Web Mineral Site. This mineral is found in Norilsk, as was Pentlandite, [ 34% Nickel][ which alerted Prospectors Sparks and Verbiski in VB], as well as the Texmont Mine now owned by Fletcher Nickel which shares some people with KWG.

Here is the part of the release that is going to make things a bit more interesting:

"- Hole 33, after passing through 11.0 metres that averages 40.29% Cr2O3, entered a narrow nickel sulphide filled fault zone that averages 2.74% nickel, 0.12% cobalt and 1.04 g/t Pt+Pd over 1.0 metres. A sample selected for petrographic analysis as determined to contain a low temperature alteration assemblage of minerals including godlevskite along with veinlets of mackinawite which infer a possible nearby primary nickel source."

Well it is obvious we have some very, very intense minerization, some of which is found in Norilsk and Voisey's Bay, and its OUT now, so I wonder if we dont soon see the RING Catch FIRE.

So, chrome, nickel, copper, platinum, palladium, gold, silver and diamonds are all found in proximity to the RING of FIRE, as well as FREEWESTS huge find, BLACK THOR, BLACK LABEL and now the Joint Venture holding BIG DADDY of SPIDER, KWG & FREEWEST, is tracking a river of nickel. We really have no idea what might happen next............

HOT topic Now

2010-01-09T02:22:00.000-05:00

Read about a mineral that Richard Nemis found in 2007 that sparked the immense eruption in NORONT's price, http://en.wikipedia.org/wiki/Pentlandite, PENTANDITE. As a result, many are now thinking that this JAMES BAY LOWLAND really does hold many unthought of minerals, perhaps similiar to that usual suspect, oft mentioned VOISEY's BAY.
Now we know that the Majors are just scared to death to start some real bidding for RING of FIRE companies, but how long can they wait until one of them makes the move??

LET the GAMES Begin ! ! !

2010-01-03T23:07:00.000-05:00

    Now unlike the REAL contests of old, I don't thing the two main players appear evenly matched.

   The battle is for the CHROME FARM in the RING of FIRE in the JAMES BAY LOWLANDS of Northern Ontario.
The current main antagonist is CLIFFS RESOURCES of Cleveland, Ohio, a big player in the ferro supply world. The protagonist if we can title them that, are an aggrieved group of FREEWEST Shareholders titled
The FREEWEST FAIR OFFER MOVMENT" linked here - > http://freewestresources.blogspot.com/

As a matter of full disclosure, I am administering their blog.   I have been and still am in the "Back MAC" camp, as I think Mac has done an excellent job getting us this far,and basically embarassing Noront as it tried to steal FREEWEST's assets. No matter what, I personally dont know what or when he did or did not know something, so cannot take issue with any of it.   I have written before that I think just FREEWEST's BLACK THOR CHROME DEPOSIT is worth at least a half to one and a half orders of magnitude more than offered [ in English that would be $5.00 to $15.00 per share ]. Mentally speculating what anything might be worth, vs. actually realizing it are way two different items.

    Without the strong shareholder loyalty and base of retail shareholders, IMO, Noront [ NOT,to ] and its major shareholder, Irwin Warren might have succeeded in waltzing off with the prized CHROME Deposit and the company itself. However it seemed that early on, that customer base was quite antagonized by any number of unfortunate moves probably initiated by Noront and its management. That probably sealed their fate, as they never really showed any more shares tendered than owned by Mr. Warren.

   Noront is now history, IMO, in more ways than one, and the "ELEPHANT in the ROOM" is not CLIFFS but some other as yet unseen Mining Major with a potential interest in the CHROME FARM.    While this gladitorial contest has begun, it is not clear that the struggle for the hearts and minds of the FREEWEST shareholders is far from an accomplished fact. Neither side's PUBLIC RELATIONS campaign is yet showing their cards.

   Add to the mix that KWG, SPQ, PRB & FNC are "IN-PLAY" both in terms of stock market action and internal activities. Further compound that by the flight of the FREEWEST shareholders from a "supposed" hub of Investor Information to the old basic messageboard at Stockhouse.ca ->

http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=FWR&t=LIST

Of course you can get more information by linking to my main blog at

http://denaliguidesummit.blogspot.com/

and sign on, for further information

RING of FIRE Mining Camp Blog MAN of the YEAR

2009-12-24T13:17:00.005-05:00

Mac Watson, CEO, and extraordinary explorer, is this BLOG's MAN of the YEAR. His efforts and that of his assembled crew of Ronnie Kay, Don Hoy, Mark Schneiderman, working daily to keep FREEWEST on-task, have brought us to this great place. Each and every shareholder, IMO, can thank MAC and his crew for getting this job done despite odds against them.

We at RING OF FIRE Mining Camp BLOG salute the entire FREEWEST CREW for a job well done, and wish them well upon all their efforts, past, present, and in the future, as a company and individually. Special thanks go their receptionist for fielding innumberable calls all in good spirits and disposition.

Thank you, Mac, Ronnie, Don, Mark and our receptionist from the management at The RING of FIRE Blog.

BEST WISHES and Happy Holidays to them all.

Holiday Greetings

2009-12-24T10:11:00.002-05:00

I am resting and reflecting this Holiday on my blessings. I hope I can spread some of the my blessings as gifts to all those whom I touch, for it fills me with the Spirit of the Season to share.

Take the time to share with your closest, and enjoy the fruits that are available to you, for you are blessed.

I look forward to a successful 2010 powered by a lot of good will towards others.

I wish you all the greatest life success you can achieve for yourselves.

Thank you for visiting the RoF blog. I can be available on the "PING" Box to answer questions you may have.

Seminars and custom courses will be offered in 2010 as announced.

Happy Holidays

Denaliguide

the BEST of the REST, you've been waiting for

2009-12-15T15:18:00.005-05:00

I thought this was soooooooo appropriate

"On the tenth day of Take-Over the RING of FIRE gave to me, 12 Juniors Staking,
11 Drillers Drilling, 10 Lawyers Leaping........."

Yeah and you can see all of them just SMILIN', cause they got TONS of FREEWEST Stock and are gonna make sure we get FULL VALUE for our shares.

Whats in your wallet? $US Two Dollar seventy-three cent per share ( $US 2.73)?

Heck thats cheap at twice the price........ Ya'll have a good Holiday !!

BLACK THOR as big as VOISEY's BAY ? ? ? lets speculate on it !

2009-12-14T11:46:00.013-05:00

Voisey's Bay Ovoid Zone, Labrador
The Ovoid Zone of the Voisey's Bay deposit consists of 31.7 Mt of near-massive to massive sulphides, mainly pyrrhotite, pentlandite and chalcopyrite. It is approximately 70% massive sulphide, grading roughly 2.8% Cu, 1.7% Ni, 0.1%Co. The Ovoid is about 900m long, 500m wide, and is over 100m thick at the center. The top is 2.5 to 30m below surface.The zones which comprise the Western Extension have about 29.6 Mt of indicated and inferred resources. These occur as thin lenses of massive sulphides. This part of the deposit is discontinuous and approximately 1600m long, 150m wide, and 20 to 70m thick.

Scales are approximately equal, roughly speaking. for comparison only.

BLACK THOR in the RING of FIRE, as big as VOISEY's BAY ? ? ? Could be, IMO. ! !

I hesitate to suggest that the BLACK THOR alone is BIGGER than VOISEY'S BAY,
but the numbers give me real pause for thought, to ponder that possibility.

From all that I can determine, Voisey's Bay OVID Deposit will yield 31.7 Million Tonnes of ore,
averaging about 2.83% Nickel, and 1.68% Copper, and 0.15% Cobalt over the life of the deposit, according to the Newfoundland & Labrador Government.

The Nickel in this deposit, valued at $7.50 per lb, plus the Copper here, valued at $3.25 per lb,
adds up to approximately 17 Billion Dollars ( $ US ) of METAL.

In the RING of FIRE, the Resource Estimates now floating around, throwing out the highs and lows range from 50 to 150 Million tonnes, in the BLACK THOR Deposit. Just like there are three known deposits at Voisey's Bay, there are also three here, BLACK THOR, Black Label and Big Daddy.
BLACK THOR, estimated roundly at 100 Million Tonnes will serve for a comparison. Using the lowest of grades applied to it in 'guesstimate', we could apply 20%, so that there are 20 MILLION lbs of Chrome Metal in BLACK THOR. If we convert TONNES to Pounds and multiply by a LOW price of 80 cents US per lb, we get 32 Billion Dollars of Metal within the BLACK THOR Deposit.

This is a nasty, down and dirty, qwk & dirty estimate I have toyed with for over a week, referencing numbers from sites online. Your invited to come up with your own ideas, your own math. This idea has been rolling around in my head and needed some Fresh Air, here and now....

I have not even touched CLIFFS figures of its own for the
revenue, but it will all seep into any number of forms of NET PRESENT VALUE Calculations that will be forthcoming, with various inputs and premises. The last time I did that the numbers were so “OFF THE SCALE” that I hesitated to share them.

In preparation for these numbers I always go back and read the definition of ORDER OF MAGNITUDE, which I think will come into play, perhaps in further offers for the RING of FIRE
CHROME FARM DEPOSITS.

Since PROBE, FANCAMP, SPIDER and KWG are still intimately involved, FREEWEST may get the lion's share of the spotlight, but it still points to a long way to go until this whole mining camp settles down and the dust clears.

SUPER BOWL TIME in the RING of FIRE

2009-12-14T09:55:00.004-05:00

The vaunted and feared "Hail Mary" forward pass, in the hands of serious Quarterback like Brett Farve or others, has undone many smug game leader. After completing a couple well executed "Hail Mary" passes, it is apparent to me that FREEWEST is establishing "Orbital Escape Velocity" from being an undervalued Junior Explorer to being a sought after company.

Notre Dame Stadium pictured holds not quite 81,000 fans. Try to imagine, after reading the reports of the deposits BLACK THOR, BLACK LABEL and BIG DADDY, how many NOTRE DAME Stadiums will fit into the footprint of the proposed pit mine. BLACK THOR
is traced 1700 Meteres [ thats 17 football fields the long ways ] long, and 50 meteres wide [ same as your basic width of football field ].
IMAGINE NINE [ 9 ] NOTRE DAME FIELDS side by side two [2] by two [2] thats BLACK THOR alone, just Black Thor. Black Label, and Big Daddy are not even included in that.

Have you done the MATH on the Chrome Farm Project? I am working some rough math and comparisons and these numbers suggest a take out price at least one, maybe one and a half, orders of magnitude greater that what we have
even spoke about.

We are talking about clearly bowl shaped deposits available for pit mining once the 3-35 meters of overburden is removed [ reformed into dykes if need be? ][ we will be in bedrock, rather than muck so it will be stable as we reach the ore]. BOWL SHAPED Deposits. The only thing you can do is pit mine them LOL, since they are so perfect for it !!

When I stop counting the zeros in my calculations, later this week I will have some of my SWAG estimates of what this deal could produce for whomever ends up with it.

Bottom line is this deposit is a "GAME CHANGER" for the stainless component market. If a smaller company like CLIFFS gets it, they will be able to "JackHammer" their way into the stainless component market because they hold
the PRICE HAMMER in this, probably the lowest cost of deposits on the planet. If a Super Major, already in chromite gets it, they will CONTROL the Chrome Market.

Since Xstrata is closing out older mining assets and leaning down in Canada, they are likely to attempt to buy in.
Despite my concerns, I am not sure Xstrata could partner with CLIFFs but such is possible. Since X is a miner, it would seem unlkely plus I am sure the US authorities would NOT like it a bit.
More likely CLIFFS can develop an offtake partner agreement with someone like Acelor, who is PRODUCING Stainless, but again if you thought politics made strangebedfellows, just watch..........

The other side of that spectrum is that VALE, BHP and RTZ are familiar with this deposit, so their interest cannot be discounted. Once you total up the dollar value of the deposi; the national strategic value; the business strategic value, it adds up to inability of two or more majors to ignore this deal. To ignore this deal would clearly and openly run against their own interests or suggest a change in direction in their philosophies. No such change has been signalled so I am glad to hold my shares in FREEWEST until the CHROME FARM is really, really, really sold, not before. This does not even address the potential of others in the RING. Close by and getting a lot of action are PROBE and FANCAMP, plus SPQ & KWG, the last two,curiously have having "Dead Cat" bounces rather than "Hockey Puck Richochets" again curious to me, which might yield to the proper due diligence.

I think the answer is in the math. I also think the math is telling us that the real value of this property is at least one if not one and a half orders of magnitude larger than what we have seen to day.

"PERFECT STORM in the RING of FIRE"

2009-12-11T16:38:00.003-05:00

As you might guess I think conditions are right for things to happen fast and furious in the RING of FIRE. Here is a bit of my thinking at this time.

A CLASSIC MERGER BATTLE is forming
a 'PERFECT STORM' in the RING of FIRE.
“SEVEN CONDITIONS OF COMBAT” now present themselves as:
Strategic mineral;
Expanding market;
Game-Changing world class deposit;
Much Money and MEDIA is about;
SA companies dying to get out of SA;
Egos, hubris, fear, greed, and revenge;
Assets appreciating while Currencies Deprciate.
ADD it UP and it's a receipe for a very exciting time.
Throw in the mix: Canadians, Americans, Brazilians, Swiss, South African's, Australians, English, Chinese, and Russians, not to mention other Euros, the Democratic Republic of Bay Street, and Ohio.
Today we have a standing offer, fixed by CLIFFS NATURAL RESOURCES of $ C 1.00 per share for the shares of FREEWEST RESOURCES.
FIX in your mind that the clash of the titans over Voisey's Bay was over 100 Million tonnes of Nickle grading 1.6%. Now compare that with the OPEN ENDED estimates of perhaps 100 Million tonnes of CHROMITE ore average 20-40%, a great deal of whichis is +38%, considered shippable without further processing. Thats right sports fans 100+ million tonnes, say 30% average.
Whoa there, ! THAT is a LOT of stainless steel fixin's ! !
CLIFFS has the inside track, but on Thursday, December 9, we were treated to a 50+ Million share day. THE FUNDS are on the scent, the hounds have been loosed ! ! !
It will be hard to visualize this world class deposit going out without a BANG !
Given world currencies depreciating as a matter of course, in a race to the bottom, assets now are preferred to paper. Burgeoning poplulations acquiring the means of modern living, want more stainless not less, and can pay for it. Countries desiring a secure supply of stainless components now have them in their reach.
Should a US company lock up this deposit you can bet your last fiat dollar that the US DOJ and DOD will shoot down any attempt to take it over, just like they shoot down CHINA NATIONAL PET's bid for UNOCAL [ wed later in a shotgun marriage to a 3rd cousin ! ! ].
South African companies have been leaving South Africa for 20 years and with the right BID can replace their Bushveld Chrome deposits in one fell swoop!
Indeed, throw in the MEDIA and you have a coming “PERFECT STORM”. The stockholders are sending out a NO WAY by their deafening refusal to agree to the deal. The funds have ratified that by buying at was the top and now is the floor.

Winthin two weeks I note as many times that when asked about Chrome Deposits in the RING of FIRE, sources close to Xstrata failed to deny that Xstarta was in touch with the Chromite holders in the ROF.

"TWELVE WEEKS of M & A Activty in the RING of FIRE

2009-12-10T11:38:00.005-05:00

RED=CHROME, BLUE=PGM's, YELLOW=NICKEL, GREEN=COPPER

OR

FWR=RED, FNC=BLUE, SPQ=YELLOW, KWG=GREEN

and so HAPPY HOLIDAYS TO ALL YOU AND YOURS. We sing our holiday song to the tune of
"The Twelve Days of Christmas" and we are so happy and grateful to be in the RING !

"On the 12th Week of M & A Activity, the RING of FIRE gave to us, 12 Juniors Staking"."

AND Two Improved Bids for FREEWEST, plus two new rumored "interested parties". Wow its beginning to look a lot like Christmas ! !

"On the 11th Week of M & A activity, the RING of FIRE gave to us, 11 Drillers Drilling" AND
an improved ALL-Cash offer for FREEWEST from CLIFFS. Wow, its beginning to really feel like Christmas ! ! !

I just bet you that some very big reindeer [ moose size maybe ] is gonna come in here with Santa riding on his back, with lotsa goodies for all those holding good RING of FIRE properties. So far FNC, PRB and FWR are getting the attention, but I want to see what Santa has for everyone. So far the Santa Radar only has FNC, PRB and FWR showing. Maybe more towards Chrimstmas some more will show up.

Be good and hold onto your shares, no matter who tries to take them from you, as SANTA KNOWS what is the RING of FIRE............... and "DADDY WONT SELL THE FARM"

HAPPY HOLIDAYS EVERYONE !!!

TA Post 11/30 "TA starting with the oldest Breakout, first"

2009-12-08T22:26:00.007-05:00

LETS LOOK BACK TO NOV 30, WHAT, BASICALLY A WEEK AGO, AND SEE WHAT THE PROJECTIONS BACK THEN

RATHER THAN BELABORING THE POINT, IT IS ENOUGH TO POINT OUT THAT THE STOCK PRICE IS MOVING TOWARDS THE PROJECTIONS, REGARDLESS OF WHAT ANY PARTIES ARE SAYING.

My question is how you will listen to, The TALKING HEADS, or Mr.Market?

"Lets look. On the top chart, WEEKLY, it Broke out on 10/5. It has now targeted a projected $1.89 [ Canadian ]. WEEKLY charts require longer to work out than Daily.

Next chart down. DAILY it Broke out 11/23 and now targets a projected $1.48 CDN.
DAILY charts take less time to work out than WEEKLY but more
more than HOURLY.

Now, the HOURLY. It has broken out today 11/30 and targets a projected $ 1.18.

Basically no more comment is required here as the pattern is clear. The closer targets are lower than the longer targets but the stock is "stair-stepping" its way toward each objective. Despite all screams and hollers and moaning and groaning to the contrary the stock has kept moving.

SHORT ANSWER / CONCLUSION ? IMO, the stock keeps moving. Technically, the volume keeps confirming what, IMO, I am seeing in price. Its your money, you decide "

A bunch of white guys with weird accents, ehh?

2009-12-07T19:08:00.003-05:00

Webequie is located on the northern peninsula of Eastwood Island on the Winisk Lake, 540 kilometers north of the city of Thunder Bay, or 450 kilometers north of the town of Sioux Lookout. Access is only by air or a seasonal winter road. There is no year-round road access. The nearest year-round road access is the town of Pickle Lake, 250 km to the southwest, or the town of Nakina, 320 km to the southeast. Charter air service to Webequie is available from both of these communities.

These guys companies sound like alphabet soup, and they supposed to speak English, but its not the same, somehow.

Now I dont bother posting the charts of the companies they are hunting, and they are hunting. Its almost like "ALIEN" vs. "PREDATOR", with a twist. Maybe not TEN BILLION, but they got plenty cash, if only half that, so I asks myself, how far could they drive the price of a couple Junior explorers if it was known they were looking. Now this late in the fall, the weather wont support the "Fishing" excuse, so I guess that is NOT what they were there for. It doesnt even matter which ones it was, but rather, that THEY were there.

How much energy will the knowledge of their presence add to the mix? I really dont know but I do know it will push the envelope when the total of the other two bidders market cap is less than the cash position of one or two of these companies? Strange what might result. I think if you scroll back thru the older posts, you can see some of that TA with the prices I am seeing projected for at least one of the Juniors, FREEWEST.

WORLD CLASS in the RING of FIRE

2009-12-07T11:16:00.008-05:00

Thats what we have here in the RING of FIRE, World Class. Chrome deposits thick, long and rich ? PGE's ? Cu ? Ni? Rare Earths ?

NO ! WHOA there buddy! !, IT's Mac-HAMMER !!

I am talking about a more serious quality that that!

Lets talk about the guy who held the fused bottle of smoking nitro, and calmly did exactly what he said he'd do, Mac Watson..

Piloting FREEWEST thru the straits and rapids, blind channels,and shoals.

Smart enuf to team up with CLIFFS a couple years ago, he brought FREEWEST the offer that now has been just the opening round in what will be a Battle Royale.

Withstanding the slings and arrows of outrageous fortune, and gracious to all,

IMO, Mac is a world class act. "CLASS" popularly defined as "that element of grace and taste and elegant manner of style and action". He is standing tall, and will, IMO, exit smiling with his shareholders.

Its not a stretch to see his "grace under fire", as the mud-slinging falls wide of the mark, and hear his humanity as he says such is expected in this struggle.

Any of us in his position would do as he has or worse, and sad for the miscreants who attempt to sully his name, as what goes around comes around by a factor of 3X.
It wont be that long in coming.
I dont see Mac getting fitted for a halo, in fact I want to see him with his hands wrapped around a chip hammer, working in the field for the New Freewest, or ink stains on his hands from the maps running wet, in the field. Give the man some credit, give him some space and above all, give him some time in the field when this is over, he'd like that.

Enough said. As MC Hammer would say about Mac "Cant touch this ! "

When its all over, he'll be known as "Mac-HAMMER" !!!!

Poll Results

2009-12-06T21:02:00.004-05:00

In short -> 56% of the responders think that the next "Big Thing" is not yet known !

44% think that the Next Big Thing is already known.

88% want CASH, the rest, Participation.

Respondents want the explorers to look for Chrome, PGE,s & CU / NI

No one thinks FREEWEST is over priced.

I think that most of these reults weren't surprising at all.

Again, I go back to the responders / readers being informed and aware. !

As you see I composed the first verse of the "12 WEEKS OF TAKE-OVER", which I repeat here : " On the 12th week of Take-Over, the RING of FIRE gave to me, 12 Juniors staking."

The RING is hot, getting press at BNN, FORTUNE, and a number of other mainstream venues, plus the serious Mining Journals and Publications. Given Ontario's huge size and huge mineral wealth, it IS surprising to see HOW LARGE a Mining Camp might
develop from these activities, as you have the DEBEERS VICTOR Diamond mine on the EAST, the GOLDCORP MusselWhite Mine on the WEST, and lordy knows how many deposits to the SOUTH. Probably the whole thing is OPEN TO THE NORTH.

Now those who have traveled in the Arctic, Africa, or places say other than Europe, you must get used to mind-numbing distances, that seemingly arent shown on the map, you are the victim of the "Mercator Projection", which describes its features in this quote from Wiki :"Like all map projections that attempt to fit a curved surface onto a flat sheet, the shape of the map is a distortion of the true layout of the Earth's surface. The Mercator projection exaggerates the size of areas far from the equator. For example:

* Greenland is presented as having roughly as much land area as Africa, when in fact Africa's area is approximately 14 times greater than Greenland.
* Alaska is presented as having similar or even slightly more land area than Brazil, when Brazil's area is actually more than 5 times that of Alaska.
* Finland appears with a greater north-south extent than India, although India's is the greater..

So now we know why it takes SOOOO long to go places that dont look that BIG. OK

So now we know the distances. Nakina, Ontario, on Route 11, is probably 200 miles S.of the RING, in basically unroaded territory. Bulk minerals whether concentrated or not will require heavy rail transport to infrastructure facilities at Nakina, Thunder Bay or Sudbury. Rail thru territory like this has been accomplished by strong but not heroic efforts where RAIL was the only heavy transport option. Ontario, Canada's Federal Government and numerous First Nations communities are committed to reducing poverty through good jobs. So far plans for human facilities in Northern Ontario are on the Agenda of all three of these groups, therefore lending a strong positive dynamic for development of the mineral assets in the RING of FIRE. Balanced against the distances, the human imperative seems to be to more forward especially where there has been successful precedent.

Right now the RING of FIRE is a HOT development just opening the tiniest tickle in the consciousness of investors and manufacturers in Ontario and Canada. It can only get bigger.

Now that was fun ! Its the HOLIDAYS, so lets sing

2009-12-06T17:01:00.008-05:00

THE TAKE-OVER SONG which goes as follows:

"One the 12th week of TAKE-OVER, the RING of FIRE gave to me, 12 Juniors staking."

Now that one sounds like fun. Let see there was Rudolph, Prancer, Dancer, Donner and OOPS wrong song,. It is Freewest, Spider, Kwg, Probe, MacDonald, UC, Temex, Hawk, Baltic, Northern Shield, UC and Fancamp. Wow what an assortment !! And not even a complete list, right. Now who did we leave out? Noront? Well they are in the RING with a really huge land position.

Ok, so now, they have STAKED. And drilled. And assembled assays. So now what do we have? In real terms we have 10 years of boots on the ground. Ten years of exploration and drilling. What do we have? Diamonds? No, just signs. Copper? Yes significant signs. Nickle, same. Gold, silver? Well maybe some. Platinum group minerals and elements ? Yes we have lots of that showing.

So far there is one "Stand-Alone" deposit, that holds the potential for economic development now, and as the game progresses it now holds the extremely important spot of FIRST TO BE DEVELOPED. No doubt the other elements folded into this will come out in the fire also, to be sure.

This first deposit is truly an "ELEPHANT" and we can only eat an elephant one bite at a time. I seriously doubt we are past the 2nd bite yet,and so no one really knows its potential future pricing, as every parameter used in figuring the current deal is based on the lowest, most conservative values. We are also neither in Manic 2007, or at the peak of the steel market, both of which are coming again, IMO.

Interestingly, Probe & FNC are keeping pace with FREEWEST, while, SPQ, KWG, NOT, TME and BMK are holding their ground in spite of the TSX downturn.

With offers from CLIFFs and NORONT, FREEWEST is in new high ground for multi-year highs, extremely bullish and yet with a still good head of steam underneath it, perhaps indicating the market expects more, as in the 2nd round of a 15 round Headliner Match. Probe is exactly mimicing FWR while FNC is very positively related. As a rule, its understandable why interest is rising in the rest of the RING, but yet curious why KWG and SPQ are not showing the same zest as FREEWEST. Curious.

Just like when you field dress a big animal weighing tonnes, there is a lot left after the first steak. Stay tuned. I think I hear some big predators on the prowl out there. I cant see it clearly but I can hear them moving around.

FRIDAY 12/4 Conf CALL FREEWEST - REPORT

2009-12-04T09:57:00.003-05:00

Listening to the conference call today Neil Weiner LLB, Director, did a great job of directing traffic,and riding herd. There were as many comments and questions, and a lot of dissent concerning the latest bid, an offer from CLIFFS for 90 cent Canadian for the whole company. Add in a cameo appearance of Warren Irwin, polished and erudite, and it was, as much fun as legally allowed in those kinds of calls although there were a number of long and uncomfortable silent moments.

Give Mac, Don & Donnie a lot of credit for bringing FREEWEST this far. IMO, they deserve the "Change of Control" compensation they will get.

GIVE as much credit to the FREEWEST shareholders that have stood by them for years.
Buy and hold is not an easy thing to do, but the tough ones have done it, and IMO, deserve a payout. JV's, NSR's, VIABLE warrants, Spin-Offs, all on our minds. FREEWEST shareholders are quite unhappy with Noront, et al, and to a person, would
rather have ANYONE but Noront get FREEWEST's chrome properties.

I'd like to say it is a well deserved weekend off for MAC & Crew, but I dont think they will have a quiet moment for awhile. FOR SHURE, people want a NI43-101 long long before the Special Shareholders Meeting in January. It would be to FREEWEST's benefit to have it available ASAP !

A special report will be available to subcribers,
and blog readers may request a free copy by emailing: "denaliguide2@yahoo.com".

I think there are at least forty-one more days until FREEWEST's Holiday season slows down. It was a year ago it hit a 52 week low of 12 cents. This years high so far is
89 cents. KEEP your eye on that puck !!

The CHROME FARM -> a review

2009-12-03T10:30:00.004-05:00

Since there is no other known resource with the same unique characteristics, infrastructure, proximity to shipping or markets, now or in the future. Given the project, like all mining projects will take time, there are no fatal flaws in the way of this one, which is part of its uniqueness.

CHROME -> the source countries are not viewed as desirable or reliable sources, due to constraints in their supply and infrastructure, and costs.

FREEWEST CHROME FARM: yet to be developed but requiring no new technology, but rather capital inputs, will supply at least the Western Hemisphere with CHROME for the foreseeable future with chrome at market prices, profitable to its producer.

STAINLESS STEEL: As with all progress, there will be MORE stainless produced in the future not less, West or East. Who makes and uses stainless? The same old actors, the industrialized and industrializing. Lots of people around the world want to have stainless in their lives to improve it. We go forward from here.

PRODUCERS : Basically the CHROME FARM is irresistable to at least one of the MAJORS, IMO. One of them is going to jump, sooner or later. There is no current substitute for chrome, nor is there an available chrome deposit like the CHROME FARM.

So far we know certain "Indicator Institutions" are in there "bird-dogging" the way, kinda pointing what they think are good long holdings. Looking at Pine Tree Capital, we see they tend to be HOLDERS, rather than short-sellers, so they are not really what you'd call Heddgies, per se. The fact that PineTree is TSX traded is a plus. Now not exactly a vulture fund but a real BAY STREET BUDDY to who knows whom, my thoughts are that they are in it for the bucks, now or later. They bought FREEWEST for Cents. I dont think they will sell FWR for CENTS, I am more thinking that they want to sell FREEWEST for DOLLARS. In this respect you can say PineTree is calling FREEWEST, DIALING FOR DOLLARS. I want DOLLARS, not Cents. You want your nickle's, dimes and quarter to make DOLLARS ? ? ? PINE TREE CAPITAL DOES !

I wonder what major will be Our FIRST Dollar CALLER ?

Since the CHROME FARM has value to a minimum of a dozen global firms plus any number of nationally run funds, you have to wonder who will be our NEXT DOLLAR CALLER in the FREEWEST CHROME DIAL-IN DERBY??

Which institutions are dialing in now for blocks now that its hit FORBES magazine, online, and other financial news outlets.
Who is whispering in [ God Forbid ! ] JIM CRAMERS ears?? Look out Planet Earth, I think the CHROME FARM is gaining orbital escape velocity..........

FORTY-THREE days and counting

2009-12-03T09:13:00.005-05:00

FREEWEST now has experienced the Fourth [ 4th ] bid since the Oct 6th inception of this CHROME FARM Auction. Like all good auctions it starts out with a lot of jostling as the first bids come in. The Friedland experience is fresh in all participants minds, and the bidders mostly likely would care to avoid such a repeat. The Sellers, the FREEWEST Stockholders on the other hand are savoring a return to the racetrack atmosphere surrounding the final days of that time.

FORTY-THREE [ 43 ] days and counting. The market will have its say, opening this morning at 88 cents, high of 89, taking into account this latest bid. The CHROME FARM is clearly the prize, and so far, as in the opening stages of any great auction, the prices are just starting to arc upwards. I think when this is over,
Sotheby's or Christy's will be envious they didnt get a piece of this.

The bidding seems to have drawn the typical Bay Street cast, as well as representatives from Main St., Wall Street, and we shall see, is there someone in the back from The CITY ? Lots of would be bidders, but with a minimum of FORTH-THREE [43 ] days to run, I seriously doubt that there are many savvy sellers yet. Lots of back room side action, but no one wants to sell too early which may cause some more movement in the shares. The game is on !

INFORMED & AWARE

2009-12-02T18:43:00.014-05:00

are the terms I would apply to the most recent Poll Respondents.

Basically their choice for NEXT BIDDER in the "RING" would be Xstrata.

Of the respondents 74% were either NOT OPPOSED or undecided to holding a MAJOR's shares

In descending order of likliehood, the responders felt that KWG, then SPIDER, then NORONT, to get the NEXT BID.

As to stockholders, about 3/4 of the responders owned FREEWEST & NORONT.

Lots of unverified information flying around today about the "BIG THING", but as
informed and aware as savvy "RING" speculators and investors, the stock that seems to have been playing "Dark Horse" to FREEWEST has been PROBE MINES [PRB.v].

The chart shows Probe's movment and volume quite clearly, and the black dotted line is FREEWEST, and it is CLEAR that Probe is a perfect mimic or proxy for FREEWEST's movements. As a technical analyst, I cant say I know what to exactly make of it, except that for over two weeks, starting from about November 13th.

Even before Nov 13, PROBE has been giving off vibes that "something" is going on with it, and has been on radar probably since it started talking about doing RR in the Northern Ontario.

If you go to Probe's site you see at this link:

http://www.probemines.com/s/McFauld.asp

you get a view of Probe's property position and what is most striking is Probe's JV property with NOT between the FREEWEST Properties of BLACK LABEL, BLACK THOR and BIG DADDY Chrome properties. Reading the descriptions, we find PROBE fully involved in the "RING". That only partially explains the mimic or shadowing of FREEWEST's price. Much as I'd like to know more, I know someone out there knows. They are voting with their dollars. Actually not knowing helps me a lot more, forcing me to
concentrate more on the nuances and squiggles of each measure of each stock.

In this modern arena, venues like blogs provide a free and quick flow of information.
Please feel free to send me articles to publish. Subject to space and content, I can publish articles that relate to "The RING" for everyone's benefit. The address is "denaliguide2@yahoo.com"

Bidders and Prizes

2009-12-01T17:42:00.004-05:00

The prize is FREEWEST, its Chart from yesterday in the last post. It looks like a winner waiting another bid, IMO.

The above is clearly a "Tale of Two Stocks"

For CLIFFS it looks like the Best of Times. It keeps correcting and then going higher

NORONT seems to have trouble getting it " In- Gear " to sustain any real move, and raises questions of its liquidity should it have to fund a FREEWEST acquisition.

This question is really which one anyone wants if they get stock and not cash for
their FREEWEST shares. This doesnt even touch the question that many FREEWEST holders
are considering turning down both deals and seeing much higher bids in the wings.

As you can read from the polls, probably two thirds or better of the respondents say they would, could, or have held a MAJOR Mining Company, so to many, stock from a MAJOR may be an acceptable item if the "Price is Right".
A sizable number expect Noront may be as well, acquired by a Major. Therefore a cash offer might be attractive but is not a REAL clincher unless "The Price is Right"

Many of the RING of FIRE stocks are now and have been under long term accumulation.
For now, FREEWEST is "The Next Big Thing, in The RING", and this saga may draw out some, but perhaps clues exist as to what will take place next.

The polls on this blog will close in couple hours, and perhaps I can put up some new polls to get a feel for what we think is and should happen.

Who is on first? We are on FIRST

2009-11-30T21:25:00.008-05:00

For the day in "The RING " it seems as if FREEWEST is the big story. Various have tried to dissect the price of the 2nd NORONT offer. It is for the TOTAL of FREEWEST, no spin off, and a warrant. Seems as it it isnt what the FREEWEST holders want. They seem unenthusiastic, in the light of the fact that more and more funds seem to be positioning themselves in FREEWEST stock. We know those guys dont play for pennies. My guess is they want a quick double or better but they want it quickly.
Another 52 week closing high, and the 2nd highest TSX volume so far. The Chart is CLASSIC, and suggests more to come. So far its still in the first quarter. I dont think we will see the HALF TIME show until well after Christmas. Hey how many Shopping Days 'til Christmas? Twenty-Five Days Shoppers ! ! ! I think FREEWEST may have a nice sack of goodies, in the ROF Chrome Project. How long do you think those boys and girls can wait to get their present, basically all the Chrome the West has ever wanted, in N.America ? A secure supply? A stratetgic secure supply?
A very potentially COMMERCIAL SUPPLY, that could be exported also? HMMM it seems to me that the Goodies are in FREEWEST's sack. I think there will have to be a very NICE BIG PLATE of MILK & COOKIES for SANTA MAC to leave this CHROME PROJECT Present.

I guess if the NICE BIG PLATE of COOKIES arent there, we might have to wait for the EASTER BUNNY ! Who will be SANTA ? Who will get the PRESNT? Maybe it will CLIFFS? XSTRATA?

No matter how you look at it, its a winner and a nice play.

VOLUME, Pinetree, et al, "Who's on First ?"

2009-11-30T11:08:00.002-05:00

Ok, does it look like there are more actors here than we can view?? Someone wants the stock. Not wee little bits either. They are bidding on a valuable asset. Before 11 AM today we have a new 52 week high, trading, trading 73-74 at good volume, almost 5 MIL before 11 AM.

So now what? Refer to the previous post, that's my idea. This is the beginning.

TA, starting with the oldest Breakout First

2009-11-30T10:54:00.005-05:00

Lets look. On the top chart, WEEKLY, it Broke out on 10/5. It has now targeted a projected $1.89 [ Canadian ]. WEEKLY charts require longer to work out than Daily.

Next chart down. DAILY it Broke out 11/23 and now targets a projected $1.48 CDN.
DAILY charts take less time to work out than WEEKLY but more
more than HOURLY.

Now, the HOURLY. It has broken out today 11/30 and targets a projected $ 1.18.

Basically no more comment is required here as the pattern is clear. The closer targets are lower than the longer targets but the stock is "stair-stepping" its way toward each objective. Despite all screams and hollers and moaning and groaning to the contrary the stock has kept moving.

SHORT ANSWER / CONCLUSION ? IMO, the stock keeps moving. Technically, the volume keeps confirming what, IMO, I am seeing in price. Its your money, you decide

HOLA another OFFER? NPV & Math. TA next post

2009-11-30T09:25:00.005-05:00

I am comfortable in thinking that the mining professionals are better informed than others in the arena of the RING of FIRE. I am also more impressed when serious companies put themselves out there for all to see. Working on this knowledge, I then
decided to use some data presented by CLIFFS in their offer for FREEWEST. The data I am using here is what has been presented by CLIFFS with some slight inclusions to assure myself I included most of the other outside possibilities.

I am doing this to check the potential logic and reasonableness of my Preliminary Technical Analysis conclusions. I do so because this process going on NOW in the "RING of FIRE" can seem maddeningly slow and we all want results NOW NOW NOW !

Here is the link for the NPV caculator.

http://www.investopedia.com/calculator/NetPresentValue.aspx?viewed=1

Further my primary idea is that the simpler we keep this, the closer to reality we will end up. I say that meaning we pursue ALL avenues with an eye to simplicity.
We use all Intell and all Evidence, but we use it in its simplest context.

To be fair, and not to guess whether we are in a DEPRESSION, RECOVERY or TEOTWASKI
I used 3 interest rates in the NPV to simulate all three conditions. Five % for depression, 8% for RECOVERY, and 12% for "THE END OF THE WORLD AS WE KNOW IT."

The next input, NUMBER 2 is the life of the mine which is " 30 YEARS".

Intial cost, is the NUMBER 3 input figured at 800 MIL, but I added back the Scientific Wild Donkey Guess for the RAIL at $400 MIL, and "Project CREEP" for $200 MIL. to attempt to give some flex to again what are "Guessimates" based on CLIFF's figure given since they went public with their First offer for FREEWEST.

The next FIVE inputs are simply expected cash flow in the first 5 years, NONE, but since the formula demanded an input, I used 0.01 in the first five slots.

The next FIVE inputs were the expected REVENUE / CASH FLOW from the project, figured at 1.4 BIL per year, current dollars.

All these inputs stay STATIC, Except the Interest Rate. Now using the 8% rate

We get a NET PROJECT VALUE NOW - Now - > now, of 3.84 BIL, after taking out the comprehensive estimated cost of the project. Discount that by 8% to now and the NET, NEt, net Present Value of the project is $2.44 Billion.

THATS THE NPV of all the future dollars in NOW DOLLARS, not share price.

NOW FOR THE MATH. This deposit at this price will assure CLIFFS' dominance over a lot of the stainless market. That is of value to CLIFFS but not figured in here.
We can explore that later. Lets go back to the VALUE of the RING of FIRE Chrome Freewest Project. I don't feel greedy thinking FREEWEST Shareholders should be rewarded for their Risk-Bearing by profiting to the extent of 1 year of profit from the FREEWEST RoF Chrome project.

WHAT IS ONE YEAR'S PROFIT FROM THIS PROJECT? Lets go back to the conference call, when one of the Analysts from the BIGGIES asks CLIFFS what their profit will be from this FREEWEST RoF Chrome Project. So the CLIFFS guy that their COST is : ".... it is in the lowest quartile." WOW, now lets speak ENGLISH. My understanding of the English language and both finance and English are my mother tongues, is that it means the COST is in the LOWEST QUARTER. No doubt many will turn the meaning but if you listened to the teleconf, you now the obvious pride with which that answer is delivered and how happy the analysts were with that answer.

At this point it does not take a "Weatherman to tell which way the wind is blowing"
ala Bob Dylan. The non-verbal message [ " wink and a nod" ] here is that all the parties in that conversation loved that answer.

In brief, if the cost is 25% of the revenue, then what is left is 75%. To me the math is too simple to be ignnored. Seventy-Five percent of the gross annual gross revenue for the project would be NET revenue for the project or 1.05 BILLION.
Lets round off and simply divide the 1 Billion by say, 215 Mil shares of FREEWEST.
BINGO we get $4.65 per share. So far we have used the figures from the most savvy and seasoned professionals out there, CLIFFS. They might not want to invest that much in acquiring the project UNLESS THEY MUST . It IS understood that no one pays more than they must, neither you nor I.
So, if you listened early on in the CLIFFS teleconf you heard them say as I paraphrase THEY WILL TRUMP ANY OTHER OFFER. If you take them at their word, well the conclusion is inescapbable, hold your shares to the end of the process and as yet, there is no end in sight, even the Jan shareholders meeting is NOT an endpoint.

Next post we can look at a bit of TA.

G'Man's contributed Article on Chrome Deposit

2009-11-28T14:06:00.005-05:00

This is an article submitted by a FREEWEST Shareholder. His hope is that “RING of FIRE Mining Camp Blog” become a clearning house for FREEWEST shareholders considering the merits of the current offers on the table from CLIFFS RESOURES and NORONT RESOURCES. I think his article contains a lot of basic information important to anyone investing in “The RING”, and so applies widely to others than FREEWEST, NORONT, or CLIFFS. I have editted it for space, but tried to maintain the spirt of his meaning.

“I ask all visiting here who know FWR shareholders to tell them about this site :

http://rof-miningcamp.blogspot.com .”

“....I am not in favor of either offer (yet)[italic's by editor] for my FREEWEST shares...... but I will try to simplify.....”

“CHROMITE -.... seperates within large bodies of magma. The Great Dyke, in souther Rhodesia is
about 550 KM long by 3-10 KM wide. The Kemi Deposits in Finland are a rock 15 KM long by 0.3KM – 2 KM wide.” “....the magma that has chromite, has platinum group metals, some gold, and and nickel, and copper as well as a very small percentage of the total mass.”

“Nickel -Copper “ “....Like oil and water, the Nickel and Copper drop out of the magma solution and get dammed up on the sloping sidewalls of the magma chamber.”

“Chromite... could settle ouot in a gravitational setting near the base of the chamber....
could drop out from silica contaimination as pure crystals.....
selective crystalizaton can put them on walls.....
pressure changes also play a factor.....in placement of crystalization.....

thick layers mean the condition persisted for a long time[forming crystals].....”

“Platinum Group Metals .....also are concentrated in layered intrusions. Narrow one [ 1 ] meter bands ...they go for long distances....” “ There have been some excellent assays of platinum metals in the ROF....” “...KWG did some assays on their cores → here
are the links to their press releases about them:

http://www.kwgresources.com/news/index.php?&content_id=173

http://www.kwgresources.com/news/index.php?&content_id=170

“....Other ROF companies have had interesting results for Platinum Group Metals.”

SUMMARIZING

The Ring of Fire is an area of “Magmatic Segregation Deposits” of : Copper, Nickel, Chromite,
and Platinum Group Minerals.
The known Chromite deposit of FREEWEST on the NE to NORONT on the SW is about
15-20 KM.

Other sulfide deposits have been located in nearby properties, not all from Magma, in the ROF.

The distribution & concentration of Platinum Group Minerals is not yet known now.

What we know NOW;

This might be scientific guesswork, containing errors or omissions but it is herein in the sprit of clarity and information that I write and publish this.

The Chromite deposits of FREEWEST, NORONT & KWG are supposed to be subject to
NI 43-101's published before the end of 2009, but there appears considerable slippage in this date.

CLIFFS RESOURCES accepts as reall 30 years production @ 2 Million tonnes per year for
the FREEWEST Deposit. They show this production into 800K tonnes of Ferro-Chrome for 80 cent
a pound for a REVENUE of 1.4 Billion Dollars per Year from this deposit.
CLIFFS estimates their capital expense [ CAPEX ] at 800 Mil plus 400 for the RR, whomever builds or funds it.”

EDITOR NOTE: In the conference Call CLIFFS did, concering the PROFIT margin in this deposit
one of the CLIFFS officials in the meeting when pressed suggested that at the CURRENT TAKE OUT
price and the Current CAPEX, that from the 1.4BILLION REVENUE, the gross cost of producing that 1.4 Billion revenue would be, and I quote “ IN THE LOWEST QUARTILE”, leaving 1 BILLION or more as NET REVENUE for this deposit.

Part of “G-Man”'s movtivation was to attempt to help FREEWEST stock holders decide what to
do. Here I will upstage him and day, with the current CLIFF's offer rated at costing CLIFF's about
150 Mil.,and say that with the first year's PROFIT rated at about 1 BILLION, the next offers for
FREEWEST's chromite deposit should change by an ORDER OF MAGNITUDE. Given the nature of bidding, the low ball abusive mergers we have seen due to the “Financial Crises”, etc, etc, etc,
ad nausem, the actual bid for FREEWEST's CHROM DEPOSIT should ratchet up to 1 Billion divided by by the total diluted shares of FREEWEST which I estimate at 215 Million. You do the math.

That is if the bidding stays rational. Bidding may end under or over that number. All involved know the mechanic's and behaviours. So far there are six weeks in the next window [ approximately ] to a FREEWEST shareholder vote. If FWR shareholders do the math and come up with 1 BILLION divided by 215 million shares, and come up with a value for the CHROMITE alone at $4.65 @ share,
I dont think the deal will be approved.

Lots of time, plenty of bidders and the action is just heating up as the ground cools down for the winter drilling season in the RING of FIRE. Its getting HOTTER in the RING of FIRE.

Thanks to Anon. from Stockhouse for the quoted article.

Ring of Fire is a hot topic, Globally

2009-11-28T09:19:00.008-05:00

As the hits keep coming, Globally, logically since this the world has shrunken a lot.

Basically "The RING" is under and around the "ONTARIO" on that map, in a rough sense.

Summarizing, most of the readers of the very unscientific but interesting polls

HOLD Noront & Freewest the most, the rest of the others about half as much.

THINK Xstrata will be the next bidder by a 3::1 margin over the 2nd, which is VALE

WOULD HOLD a Major Major Miners stock by 2::1 over those not wishing to/undecided

FEEL the next Target company will be KWG, then PRB, then NOT, SPC & FNC.

RING of FIRE Mining Camp Blog is about the development of this camp and the companies within it , past, present and future. You are invited to take part, submitting articles and information we hope will add to the growth of the camp by adding to the easily available information base NEW INVESTORS to the Camp will want
as they decide to look around.

I have put the websites of the best known companies on the links and solicit contributions for materials to assist. Presentations and YouTube clips or links can also be listed.

The current ongoing" BIG THING" is the development of Chrome in the southern half of "The RING". We have the DeBeers mine "VICTOR" to the east and the "Musselwhite" mine of Gold Corp, to the west. The mineralization is all around, and at some point, the "CAMP" could extend in every cardinal direction. There are enough existing & developing or re-worked mines to indicate this area may be underlain by much more mineralization.

Reported in quantity are Nickel, Copper, Platinum Group Minerals, Chrome and as yet what else, I am not aware of. Anything else can also be covered here, as it as likely as not that "The RING" has more to offer for mineral exploitation.

Until modern technical prospecting means gave us the clues to look deeper, it was all unprofitable moose pasture. A lot of it will always be moose pasture, the gods be thanked, especially if you like moose, wilderness, northern lights, and and all that goes with northern living. Proximity to markets as shown on the map assure that now found, and with the initial reason [ large quantities of ingredients for stainless steel ] discovered and being defined, the infrastructure required to develop a mining camp will come. Probably soon.

Economics drives politics which then attempts to shape economics. The items in the matrix of mineral development are many, and complex, but if the economics weren't there, this Camp would not be developed. The economics ARE in place and the Camp WILL be developed regardless of where they might be transported, refined or consumed.

So far only the Juniors and one Mid-Tier MAJOR have shown their first card. That leaves a lot of hands unshown and unseen now. Since time and tide wait for no one, more will come out as the clock ticks. The first part is like a form of Dutch Auction, where the offered price is lowered increment by increment until the FIRST bidder gets the prize - with every price tick downward the tension increases by leaps and bounds, until BINGO, someone can stand it no longer, and no one knows when that might be. Lest the prize gets away from them, the bidding will start. That awareness that the game is afoot is spreading amongst ROF stockholders. Its also much on the minds of the lurking bidders. STAY TUNED.

Pretty Pictures - WOWZER where is that volume from?

2009-11-27T14:41:00.005-05:00

I think the volume shows the interest in the ROF happenings. As much as I think the CLIFFS deal for FREEWEST is under-priced now, I was pleasantly surprised to see the MASS volume that materialized, and not surprised some of it was PNP, but hey. I think another holder noticed that the stock always surged up when it dropped to 62. I dont think these guys went in looking at 8 cents, that would go against their nature. I also dont think they want CLIFFS stock either.

PROBE is off on a MASS volume tangent also, which, I am sure part of is simply retail speculation, but I am thinking is not all RETAIL. No proof yet, but its the kind of thing you get hunches about.

Funny, the old saying is "Buy on the Rumor, Sell on the News." which basically says that once the news is confirmed it is of no use in driving up the stock.

Rumors, although impossible to verify or pin down, are in fact sometimes hints and clues and other times bait like the Red Herring in a misdirection play. I dont hear much in the way of rumors but I do pay attention. Seems to me any source of Intell can be evaluated to see how good it might be. Seems senseless to ignore any Intell without evaluating it.

Who's Who in the Major Major Mining World

2009-11-27T12:22:00.005-05:00

these guys are our audience of bidders plus the occasional wild card [ CLIFFS ];

MT - Mittal- Russian Steel producer;

AAUKY - Anglo - basic Oppenheimer / Rothschild archetype company, basic Euro Interests;

XSTRATA - oh yes just a little interest there;

VALE - Huge steel and ferro alloy company;

BHP - Again, only a little huge;

RTZ - Rio Tino has been seen nosing around the RING;

TCK - Home grown, TECK might not be a perfect fit, but they are big enough ;

Impala Platinum - they already have a piece of the action, looking for more?

I think that is a small sampling of whom is watching the RING of FIRE.

Their market caps run up to almost 200 BILLION, so no matter the crises there is cash and stock enough to buy this Whole RING of FIRE, when they so desire.

That is not a complete list and doesnt cover the governmental or nationally based funds, so there are lots, lots of potential bidders for the RING of FIRE.

That does not assume anyone wants to own a Major Major or even a Mid Tier Major but the value lies in how YOU get the value out of your RING of FIRE stock.

Drilling Season is upon us, in the RING of FIRE

2009-11-26T23:01:00.004-05:00

and everyone from the Major Major to the tiniest of Juniors are playing close attention to the current tidal wave of interest in the mineral values in the RING.

Who started what doesn't matter as much as who gets what. Who gets what has been
the primary element of the struggle to - date.

Noront announced its unsolicited all stock offer [ 1 share of Noront for each 4 shares of FREEWEST ][ as unissued, this would have resulted in a 1/3 dilution for all shareholders, new and old ] in early October and was greeted with great skepticism by both the Market and FREEWEST Holders. FREEWEST management was more direct and called for an outright rejection of the offer and advised against tendering any shares to Noront. While Noront has not publicized how many shares it did obtain, subsequent events seemed to make this offer untenable, as FREEWEST's price moved far and away better than Noront would have penciled out to be.

FREEWEST and its holders maintained that CLIFFS [ former CLEVELAND-CLIFFS ] of Cleveland, Ohio, had the inside track and would make a superior offer to Noront.

On Nov 23rd, FREEWEST CEO "Mac" Watson, announced just such an offer by CLIFFS, with an estimated value of 70 cents per share of Freewest, for their RING of FIRE
Chromite properties. That is where it stands as of this moment. Theoretically, the NORONT deal is open until Noront says it is not, or until the FREEWEST stockholders vote on the CLIFFS deal. That part is about 6 weeks out. So for a minimum of 6 weeks there is going to be a virtual donnybrook about the values attached to RING of FIRE Properties, the bidders and those sought after. More will be posted here about such.