Again, we continuously hear from some "experts" i.e. armchair CEO´s / geologists, that it would have been better to keep the Chromite from JV claims because that would have pushed our share price to new levels !

What a load of bullsXXt !

As I stated before, for three years now, the Chromite has done nothing positive for our share price.

In fact, we have drilled our deposit (Blackbird) to

Measured and Indicated
8.9 Mt @ 34.8% Cr2O3 with a Cr:Fe = 1.89
Inferred
6.1 Mt @ 33.4% Cr2O3 with a Cr:Fe = 1.87

which compares to (now) Probes Black Creek deposit

Measured and Indicated
5.7 Mt @ 40.0% Cr2O3 with a Cr:Fe = 1.80
Inferred
2.7 Mt @ 40.99% Cr2O3 with a Cr:Fe = 1.90

Just for comparison reasons the Big Daddy figures:

Measured and Indicated
23.2 Mt @ 40.66% Cr2O3 with a Cr:Fe = 2.00
Inferred
16.2 Mt @ 39.09% Cr2O3 with a Cr:Fe = 2.00

Noront has double the tonnage with lower grades and similar Chrome/Ferro ratios.

Not too bad, I would say. But nothing positive for our share price.

And then we hear, how bad the "JV exchange deal" was and why we have kept moose pasture in exchange for that oh so valuable Chromite. LOL

The Chromite is "valuable" now because of Cliffs wanting (some of) it.

But c´mon, do the math:

Probes Chromite now is under 1/4 of the Big Daddy Chromite.

Spider held 1/4 of Big Daddy and was bought for $ 150M.

In an ideal world, the ex-JV Chromite would have fetched $ 150M at best, which would have meant $ 75M for NOT (that would have equated to an additional $ 0.41 to our share price).

But having said that, Probe should be trading at $ 3.57 now, based on these figures !

So for someone, stating here, that this trade was bad for NOT without knowing what we have traded these JV claims for, is pure bashing.

Because nobody knows, what we will find on these newly aquired claims (or do the NOT geologists already know ? Would you trade a possible $ 150M for moose pasture ?).

And even the value of Probe´s Chromite hasn´t transpired so far !

Until we know what is paid for Probe´s Chromite and what Noront finds on their new claims, any statements regarding this "exchange" are pure speculation.

Let´s wait for facts and then do the judgements.

FANTOMAS