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: Chromite also is in NOT"s future and this is why Cliffs is pushing the agenda:
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As further answer to potential KWG purchase, I will say that we would have to pay at least three times the cureent 11 cents per share, and that is without Cliffs involved in the bidding process. Fat chance.

With Cliffs involved it would take at least five times, i.e. at least 55 cents, and even then I give less than 50% chance of aquisition.

Even if it were to happen, Noront would be saddled with a substantil part of the cost if not all of building the rail line. A big investment at first which could deter a small company. It is a venture for big capital companies, big backers and/or government.

Mind you being owners of a rail line to the Ring would be a profitable venture in it's own, over time.

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