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: Full FS study, Sedar $18M budget for the next 12 months
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Full FS study, Sedar
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cupcake
Oct 20, 2012 07:14PM

The report is 197 pages long.

Micon based their assumptions on the May 9, 2012 announcement by the Ontario government to support a north-south all-season road infrastructure to the RoF area. Noront is keeping the east-west road in its back pocket as an alternative.

Nickel-copper concentrate will be sent by truck from the site to Nakina, where it will be loaded onto rail and shipped to a smelter in North America.

Budget for the next 12 months is some $18.3M including mine design ($6M), Mill Process Design ($1.3M), Infrastructure ($7.8M), Project Management ($1M), and Contingency ($1.9M), all of which Micon believes is reasonable and thus recommends that Noront move forward.

Pre-production capital expenditures estimated at $609M, with undiscounted payback is estimated to be in 2 years.

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