Although I agree with the recent posts on defining tonnage of chromite before looking at "blue sky share prices", one has to admit that AGAIN (after the world-class Ni/Cu/PGE Eagle1 deposit):

- Noront seems to have found a world-class deposit of chromite (with at least 2 Blackbirds so far and who nows how more to come, with a possible extension to SPQ/FWR land)

- Noront needs less tonnage compared to exisiting mines because of high grades:

a) Noront´s Blackbirds show a 40-45% Cr2O3 concentration compared to 26% Cr2O3 at KEMI

b) Noront´s Cr/Fe elemental weight percent ratio of the ore is running at a very economical level of 2.0 to 2.6 compared to 1.56 of the producer KEMI

c) Noront has very thick chromite layers (over 30 m true thickness compared to a few meters at Bushveld)

As a result, as already stated by other posters, Noront wouldn´t have to run the high grade ore through a concentrator (as KEMI has to do), but could rather ship the lumpy ore (prices between $ 500 - 750 and increasing in the moment, depending on grades) directly to a smelter.

The smelting process (starting with pelletising) would turn the ore, mixed with coal and quarzit granules at temperatures of 1700 degrees, into ferrochrome (US$ over 4500/t) with a contained metal value of $ 1850/t for the 40% Cr2O3 (but less smelter costs).

Yes, for mining and smelting we would need to invest heavily (and for a concentrator if the grades would be lower), but just trucking the high-grade ore could be a very good alternative and would produce some nice profits if the deposit is big enough.

So I count on more chromite layers and more Blackbirds and more other companies in the RoF to find chromite (as FWR/SPQ/KWG has already).

For me the chromite story has just begun, as has the RoF in general.

And even people who do NOT see a lot of "blue sky potential" could still invest at these bargain basement prices, let alone those who think that a lot more will be found.

FANTOMAS