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: Northern Ontario’s Ring of Fire needs a road, not rail, Noront CEO asserts

Auminer,

I fear your comments are rather short-sighted.

First, a lot of people are lumping "The Chinese" into one large group. China as a nation is more diverse than Canada, by far. Also, when you're looking at this in a commercial sense, be aware that various Chinese companies who are, or who may currently be, or who may potentially be involved in the Ring, are not necessarily pursuing the same goals.

Ignoring the differentiation of Chinese companies, to say that "the Chinese" in general don't care about the economics of the chromite is misleading. Of course they are. And more specifically, the entities examining the construction of a railroad are concerned that the extraction of chromite (economically) can support funding for capital investment.

Equating "the Chinese" who are focused on rail development, versus "the Chinese" who are interested in chromite and possibly also nickel (because steel manufacture makes their fates intertwined), versus "the Chinese" who are interested in PGM's, would be doing "the Chinese" a grave disservice. That would be like calling KWG "the Canadians" and Noront "the Canadians" and Minister Gravelle "the Canadians" and the federal government "the Canadians" and CN or the ONTC "the Canadians." As you are well aware, they may all be Canadian, but they have very different needs/wants/desires.

And before you dismiss the chromite out-of-hand, ask yourself a question: Why would Noront have taken on a debt equivalent to more than a third of their market cap, to buy chromite claims, if the chromite is not likely to be economical for a long time?

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