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the cloak is not a protection from mines, but it will protect you from the auto-tracking missiles. and it seems to make it nearly impossible to get hit by unguided rockets, but i did take a hit from a rocket about 2 weeks ago while i was cloaked. i was very surprised. '' WTF?'' i said to myself! i do seem to remember feeling like the cloak softens the blow a bit when hitting a wall, but usually i'm too busy trying to get control of the ship at that point to look at what happened to the shield-strength gauge!
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