Massive Black Horse Chromite Discovery

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

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Message: Pure speculation...but what are the odds?

I think that once the samples are sent to the lab, it doesn't matter who's in control once the analysis is finished. The analysis would be released to all parties, and I presume there is a legal obligation to release this info because it is material. I don't think that Cliffs has the ability to say "we're in charge now and we're not releasing the results to the public," although I could be wrong.

I think it's also important to remember that even if drilling takes place from say January 1st to February 28th, that doesn't mean that on March 1st, all the samples will go to the lab to start the analysis process. I would assume that by January 15th, the first samples will be at the lab, to speed everything up.

Also, we have to remember that there will be two steps in the analysis: first is the analysis of the samples themselves, to determine content, and second is taking the results from all the samples (and previous work) and three-dimensionally modelling it into a NI-compliant resource estimate. So basically, the first step is lab based geological/chemical analysis, and the second is computer-based engineering. That's a pretty simplified description though.

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