Re: Now back to the chrome

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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Cylinder

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Re: Now back to the chrome

in response to

Now back to the chrome

IAMSUDBURY

posted on Aug 14, 2010 09:33AM

Here's an idea:

We don't need to drill the Chromite at all. IF Probe's 43-101 is huge and Cliff buys it, they are going to throw a bid at Noront's chromite properties as they are - undrilled.

Why?

Because FWR, SPQ, KWG, and PRB have already shown that there is a consistent trend in the chromite resources. They will make a bid to Noront to buy out the chromite before we get a chance to prove up the properties.

Don't forget, we aren't drilling there right now, so there are no cores to go into the lengthier chromite assay testing. Even if we started heavy drilling right now, spending millions of dollars that would be better spent elsewhere, we would never see the results in time to stave off the bid from Cliffs.

At this point, I think we would be best to separate the chromite properties so that they can get sold and leave Noront with the Eagles and other potential properties. Oh yeah, and a ton of money to drill with.