From the latest presentation I would make the following assumptions....keeping in mind that the information given is as of July 8...

Information provided:

"Potential exists for a multimillion ton resource"

"40% Cr2O3 would sell for $600/ton exports"

My interpretation of additional info as provided concerning valuation....

To recieve a greater value would require capital expenditures....a concentrator could increase the value to $800/ton with a capital cost of about $100 million....furthermore, the contained metal value would fetch as much as $1,890/ton but would require the capital cost of a smelter

Ok...so let's begin with the as is....$600/ton for multimillion ton resource.....let's say 5 million ton....that equates to about a $3 billion resourse....the resource needs to be about 50 million tons to be worth about $30 billion

I guess it comes down to whether multimillion ton means 5 million or 50 million....another factor is in how many tons do they figure they could mine per year....that seems to be the determining factor with regards to the capital investment

That is my interpretation anyways....I'm interested in how others are coming up with $50 billion numbers....seems the market isn't buying that number just yet anyways

What is promising though is they seem to be finding high grades of Chromite at some distances away from other finds....could it possibly be that these all form one massive deposit...or is this dreamland.....one thing interesting from the map and "the red line on the map".....seems the chromite deposits fall exactly on the line while the nickel/copper fall inside the line and VMS falls inside or outside the line

Regardless....this is shaping up to be huge

My rambleings for today