Although we may be past the point now that the bidding appears to be heating up, I've been wanting to look at the value of some of the chromite in the ROF. Although NOT's plans are to smelt the chrome ore to ferrochrome and sell that, I don't know anything about that process or it's costs, etc, so I've valued just the raw chrome ore of just the Blackbird and Black Thor deposits

First off, although they are billed as being high grade chromite deposits, they appear to be just below the 40% threshold. Not sure how significant that is and whether it has much impact on the values below.

Second, I had trouble finding the value of raw chrome ore, so I've used what I could find - a 2019 report from the USGS (link below).

Blackbird: 20.46 Mtonnes Measured and Indicated, 23.48 Mtonnes Inferred
Black Thor: 137.7 Mtonnes M&I, 26.8 Mtonnes Inf.
2019 price of raw chrome ore per imperial ton: $270
Metric tonnes in an imperial ton: 1.102

Plug those numbers into your calculator to get the value of the chrome ore in each deposit:

Value of Blackbird: $6.087B M&I, $6.986B Inf
Value of Black Thor: $40.971B M&I, $7.974B Info 
Total: $47.058B M&I, $14.9 Inf

And of course that's all real US dollars, so convert to CAD ($1.24/USD) and the totals are: $58.353B M&I and $18.550B Inf. Again, that's just the raw chrome ore. The USGS report suggest the processed ferrochrome is worth 10X that amount.

Makes the goodies in Eagle's Nest's ($8B) look like peanuts.

Link to 2019 USGS report on chromium: https://pubs.usgs.gov/periodicals/mcs2020/mcs2020-chromium.pdf

Hobbit