Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Drilling update

Let us hope the price of rhodium becomes relevant - right now it is around $1500 an ounce, a year ago it was as high as $3900 on ounce. South Africa has been the major supplier, and Russia second. Apparently the high prices of 2008 led to S.Africa increasing their production, which in turn led to a price drop, so fairly volatile price-wise. In any case, as with the chromite, a local North American supply in a stable political environment can only be good.

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