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: Noront adds to exploration team
12
May 16, 2016 08:21AM
9
May 16, 2016 05:16PM

Yes, I have a mixed feeing about this appointment as well. The main question is does NOT need to do anymore serious exploration. Getting a new person on the team would cost a few hundred thousand dollars. This money should be saved for a rainy day.

In my opinion, NOT has more than plenty, as far as the resources are concerned

- An advanced Ni project that can be fast tracked to production (this is good for short-term cash flow);

- plenty of chromite from Blackbird and the "inheritance" from CLF (70% BD, BT, BL). I would say too much already, the current deposit will last for more than 100 years.

Why would you need to do more exploration when the key "transportation issues" have not been resolved.

No transportation, no mining, no transporting the stuff out, no money, whether it's Ni or chromite concentrates.

The strategy should be heading toward production with Ni first (to be followed by chromite) rather than to give shareholders a perceived delay with more exploration.

If this move is viewed as detrimental to the future direction of the company, our CEO may have to face dissident shareholders, just like Dr. Robinson, former CEO of Eastmain. Check this saga out if you are interested. It's a simple saga, but intrigging with all the flavours of corporate drama.

GH

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