Good point khareema
in response to
by
posted on
Nov 22, 2011 06:33AM
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)
I think that's a good point that khareema brings up...at the end of the day, what's good for Cliffs is good for NOT.
Another thing....going back a bit....when all this chrome was being discovered in the first place....was the point not being made back then that the economics on the chrome alone would be difficult, if not viable at all.
At some point...I think.....Cliffs may have to look into mining other minerals as well. The question is...will they find their own. I believe our AT-12 is somewhere near Black Thor.
Noront's Eagle's nest is a basket of minerals in very close proximity to some impressive grades of Chrome....direct shipping kinda stuff.
Another thing that I'm not sure if it's been brought up....look at FNC's latest drill results....on October 28...over 200 metres of chromite with an estimted average grade of 43.5% Cr2O3
Consolidation is key. Just in this past while, we have Cliffs taking UC out of the ring, while Richard's two companies join forces to become one, not to mention the land swap deal between NOT and PRB. It takes time, but it's happening.
And while this is going on, we continue to see some bigger players entering the picture...with HBM taking a portion of BMK and our own recent deal with a Chinese partner....all taking place under a cloud of global uncertainty.
On a final note....finally, we appear to be on an up trend. Maybe it's a combination of the above....or...maybe the rumors are true of another find. Regardless, some appear to be accumulating.