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: A question for the forum.
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Aug 24, 2008 05:45AM

100% with you on Windfall although I would not wish to see a joint venture unless Noront maintained control and this involved installing a mill on site which would eat up dollars the jv partner could put up.

Bulk samples are not production and Noront would not be allowed to take out more than enough for a small mill run of each zone. The Government will want a mining permit in place before Noront can process anything close to 1000 tonnes. Fortunately you can count on Noront having everything in place to obtain necessary permits in short order.

While I'd be happy as well as surpised to see mining at Windfall start this year it seems more conservative to see bulk samples done this year and mining start perhaps in early spring. Not too long to wait for cash flow from what seems likely to be high grade extremely profitable mine.



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