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: Manage your expectations
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Prudent advice indeed Newbers.

For the record, I have also heard that the Chromite might be north of $30 billion. Having said that, at this point it is all hearsay. It would be wonderful if substantiated.

To put the $30 billion in perspective:

The specifc gravity of the Chromite ore is 4.6 tonnes per cubic metre. As per Noront's most recent presentation/update, Chromite can be sold for between $350.00 and $750.00 per tonne depending on its type and grade. Therefore, in order to state that we have $30 billion, we would need between 8.6MM and 18.6MM cubic metres. (If in fact the $350 & $750 is for unprocessed ore. We would require much more is these dollar values represent processed Cr203) With the exploration to date, this claim is a little premature me thinks.

Cheers,

Milsy1

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