Good Evening NOT,

D 12, Great post.. I like having Mac, FWR guessing at how much ore there is... perhaps they can use our proven and probable resources,... and extrapolate further based on our land base... we would likelky have 20% of the worlds chromium if it ran though the full land base... lol. Given our relationship with FWR, perhaps we can curry some favor in this estimation. Funny, I don't doubt at all FWR has ridiculous amounts of chrome on there land.

Regarding NOT, if our find is as good as many think, based on the grades and tonnage potential, should it pan out, I think we can corner the market on chrome. No doubt we can be the low cost producer... and drive prices where we want them, and thus competitors out of business. If we get the tonnage and keep up the grades.. we will hold strong influence, no doubt.

Frustrating, I just had a real beauty of a post disappear into ago land, not fun... oh well. We all need to listen to the universe. I'm listening.

In the world I live, in I just got a sign when my post disappeared tonight.... coupled with the bullshit of my last post getting put into one paragraph, there is a sign here. If I'm hearing the universe right, it probably means enough posting for cwallace for awhile.

For now, I will summarise my thought with little of my usual rhetoric.

The tide seems to be turning towards Chrome, it's funny we have somewhat forgotten the nickel... perhaps lack of success in finding high grades like eagle 1 is enough to allow us to not make the nickel a priority. Perhaps, it's just the wondering if we will find another real and measurable deposit like E1.

As Don Coxe may say, "we like to invest in Page 16 stories"... The good news, NOT is not on either page 1 or page16, we have fallen off the paper. Although, our chrome is moving up...

My point, perhaps our nickel, which many have written off, will become the page 1 story again... our chrome may get there as well. Page 16 can sneak up on you at any time... and god knows we are due for a beauty nickel find.

Here's the question, what if we divide Mcfaulds into two companies? Nickel/etc is company 1 and chrome is company 2? What are each worth? Which do you figure is worth more... and assume you sell off or give away the rest, including windfall.. Lets say we get $20 million more for Windfall and the rest leaving us with $60 million in the pot.

Thus, our only project is Mcfaulds... and the money in the pot is split 50%/50% between the nickel and the chrome? What then? Is one a better investment?

Currently our market cap is around $230 million. Split 50/50 we get a value of $115 million each... which do you invest in... you've been told Eagle 1 has around $2Billion in resource.... you've been told BB1 and BB2 have incredibly more, even if we use Chrome at 50 cents per pound... by the way, thank you for those that posted we can't assume todays price is the price we can use to fairly evaluate this stock. Let's assume less, and also I think we can assume a 10% plus GMV takeout value. Is that fair?

Aside, when Inco was bought by CVRD the analysts were using long term nickel prices of $3.00 per pound, CVRD paid for half that purchase in 1.5 years based on Inco's cash flow with nickel from $15-25 per pound in the year following....

I realise we can't use full price in our valuations... but, we also can't assume BB1 and BB2 are going to be bought at 1-2% of current GMV, can we.. that would be the same as using the historical low prices and using 10% gmv as the buyout value. Is there premium for china, india, inflation, thick cuts, and great grades? What about finding substantially more ore?

Anyway, the point, if a major buys in, what is it worth... what is the nickel worth? And, what is the chrome worth?...

If I'm selling and a major wants to buy part of my nickel company, I make that the Nickel story more valuable.... if they want the chrome, the chrome story is the only place to be... where do you sit?

$0.90 cents or so for either company... which do you like better? They could both be worth more, I get that. Do you get what I am saying... IMO, both the Nickel Co. and the Chrome Co. are worth more... inspite of this market and especially seperate.

Do we get a premium to our market value if a major wants a piece of either? Who knows... but, both imo are worth a lot more then my expample may demonstrate.

As a shareholder, I want the major to pay up for either. They are both valuable.

Yet, I want the majors cash to fuel continued resource growth, especially considering resources in the ground should become more valuable... look at 79-80.... resources in the ground made a killing... so should our nickel, and our chrome.

I want our nickel back on page 1.

not financial advise, due your own dd

regards

cwallace