Unfortunatly D12 is MIA during a NR...that is shocking!! Actually he is away till Monday the 11th of August. These are the 2 weeks that we are supposed to be getting 3 critical NRs...The first one was today (I believe it is huge...no surprise there) the second will be AT12 become E3 and the third will be the full 43-101 report with the section from prof Mungall on Chromium. Another good source of mine said we would be getting 4 releases...If this is true than I would guess a NR concerning windfall. So D12 being gone is just fitting in this NR environment.

Well so much was said today after the NRs that I do not have much to add. I would add that I have had 5-6 conversations with RN in the last 3 weeks and no matter the questions or topic of conversation, he always made sure that we talked about the chromium and that this was going to be the biggest story. After the NR today and reading thru the posts and some articles by Miskealp, I have no doubt he is right...again! He took some time to educate me in the concentration processes involved in Chromium and he assured me that the new technology is completly environment friendly. He said you will not produce any toxic by products and that is guaranteed. So this should make permitting and negotiations with natives much easier. He seemed to agree with Rodg that we will not be selling unprocessed chromium. The DD has been done and Noront knows that they have a world class deposit of chromium and once the 43-101 report comes out, they will finally be able to say it publicly. Canseco has it right when he says the value is close to 15B dollars. I have heard the same numbers from sources that have been very good in the past.

On another point of discussion concerning the post by Misfit1. When he points out that chromium is not rare and that nickel is and thus the market for nickel is protected...he made one more error (the first was well explained by Benton). 70% of world consumption of nickel goes into stainless steel. 5% of the cost of making stainless steel is the nickel in it. As the price of nickel soared 2 years ago, technologies and processes were invented to make stainless steel nickel free. Now, I am not sure of the cost of this technology/processes but it may limit the price of nickel ascending to previous highs. However, the Chromium needed to make stainless steel is irreplaceable at this time. It also makes up 18% of the stailess steel price. So I believe the market for Chromium is at least as good as nickel. The other issue is mining/extraction costs. Yes labour is cheaper in Africa but what percentage of extraction cost does labour account for? Is the grade/depth/thickness a bigger factor in the economics of mining? From what I have read, the the Bushveld complex is a thin layer between 1-2M while we are looking at 40-50meters in thickness. I believe this may offset the labour cost savings. The other North american chrome mine near Stilwater may be economical with a grade of 22% so I would think that we would be much more economical at 37% average grade.

Thanks to all who took the time to share their great DD today. We do have a tremendous board here and it is a great pleasure to be here.

Cheers,

Glorieux