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: Re: The News
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Sep 13, 2011 08:55AM
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Sep 13, 2011 11:26AM
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Sep 13, 2011 11:34AM
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Sep 13, 2011 11:51AM

This post from Lakeside was removed for some reason. I reinstated it. He asks a valid question.

So many just do not understand the world demand for chromite. It is finite, and can absorb only so much

So many also do not understand the logistics of an open pit mine in the area of interest (ROF).

NOT is advancing a plan to mine the nickel at Eagle1. This plan, to date indicates that this is feasible without any consideration of the chrome deposits that are less than 2 km away.

25-30 mill tons of chromite could feasibly swamp the chrome market for at least a generation, if it hit the market 2 years in advance of any supply coming from CLF, regardless of how much CLF had in reserve. (200 mill tons rather than 100 is absolutely inconsequential in the first 100 years or so). 250k tons/year would be very doable from an underground mine, particularly as all infrastructure would already be in place for the nickel, and this type of mining is amenable to high grading, while an open pit is not.

NOT could easily pass environmental tests, as well as any other objections, when compared to an open pit mine in the ROF, IF an open pit mine is even possible given the water tables, etc.

In my opinion. NOT is far, far ahead of CLF in this thing. When it does get the go ahead from the province, which it will, all the attention will be on NOT, not CLF.

Best regards

K

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