Re: 43-101
in response to
by
posted on
Aug 17, 2010 09:27PM
IMHO if the BOD were to bring out a 43-101 at this time it would limit the size of the chromite deposit. Now if we were to stall the report so we can get some more drilling done, drill to strike, drill to depth, the numbers would be more realistic as to the actual size of chromite deposit and avoid a possible lowball offer. At this point my back of the envelope calculations as to ore tons are, 4,000,000 low side 7,000,000 on the high side. For me if the drills are allowed to do there work the high side number can easily triple to more than 20,000,000 Tons. With those kind of numbers it would be hard for Cliffs to resist an offer. This is all just my thoughts of the way i see it unfolding and not facts......paliman