Yes, and the best posts of the morning award goes to both Vermilion and Babjak. Think positive and think bigger, because this is both.

This announcement is a culmination of negotiations that have been ongoing since before year end, and although not at the price we would like, it is what it is, and the fact that they wanted the whole 19.9% but had to settle for half of that also speaks volumes. We are now financed to the preproduction decision stage for the Eagles nest in return for 10% of the pot, and that is being done by a company that is mainly interested in our chrome.

It has been my suggestion in the past that NOT was downplaying the chrome on purpose, as it would figure in a big way how the infrastructure costs were split up. The fact that they are reigniting the subject of chrome would indicate that the question of infrastructure is close to being resolved (didn't someone just say by end of May?). For sure no one is going to suggest moving the chrome through a slurry line.

At any rate the rules of the game have changed. We no longer have one major (CLF?) dictating terms for the area. You can bet that there are discussions taking place right now as to what the next step is going to be, or maybe they already know.

best regards

K