Re: Please correct me if I am wrong chromite value per share numbers.
posted on
Sep 14, 2008 01:58PM
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)
To continue. After the incredible drill results at E1 many were forcasting huge dollar value of deposit and the geophysics showed a good sized deposit. Drilling it however averaged down the grade and the 10 million + tonne resource became well under 5.
Now the Nickel story is far from over and deposits will continue to be developed, not out of the question for E1 to hand us more either.
It's just that too much puff and we lose credibility. When Noront provide some space out drill cores to allow for a rough guess at size we can start guessing at values. Far too early.
One can understand the frustration with share value and seeming lack of any value at all being placed on Chromite. Show us indications of size and watch the share price move. Show us 50 million tonne indication and watch some serious money hit the table from Majors.
Vtem etc. won't do this but infill and step out drilling will and since Noront continues to drill the chromium they must believe that as well.