HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: NOT

Re: NOT- Khareema

in response to by
posted on Jan 07, 2010 08:50AM

There is nothing more to say until we get additional info. We just had a battle with a giant over FWR that we lost with regards to ownership but gained a great deal in public awareness and PR.No longer can the investment world say they are not aware of Noront. This is a good thing. If Cliffs developes the chromite, which I have confidence they will, than they will put in infrastructure to get the chromite to market. This means so much to us. Cliffs can get the financing, we probably can't. The tonnage requirements for feasibility probably gets a lot lower. Sure, we will have to pay Cliffs a price to get our stuff to market on whatever system they put in place but they can't deny us. Rio Tinto lost a case last year in Austrailia I believe, when they denied access to another mine to their railway. Not prevented a major from coming into the ROF and getting a resource for nothing. Cliffs still got a steal of a deal.

In the meantime, we still have a 43-101 on a nickel deposit. We do have assays that extend it to 1000m with exceptional grades. We still have pges. We do have funds to explore it beyond 1000m and everyone of us is confident that the orebody continues downward. We still have a regular shaped orebody that lends itself to simple engineering and mining. All we need is confirmation on the extension and grades and the investment world will be all over this again.

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