geoprof;

Doing the calculations you, Milsy and Hoov have been instructional with respect to are very interesting. Knowing the basic characteristics of the Rock composition would give any prospective Partner fundamental information to apply to Valuation Modeling which they would use in aiding them in determining their desired "BUY In" price. At the same time, this type of Valuation Modeling is also very valuable to Noront Resources in tetermining the worthyness of any such offers.

HOWEVER, Noront Resources has made every indication that they are as equally intent on DEVELOPING their RoF Mineral Deposits on their own and shiping the Ore to any Smelter that is interested in obtaining the new source of Feed Stock. Thus, the same Valuation Modeling is also important to Noront Resources in terms of aiding them in locating and obtaining DEVELOPMENT FUNDING. The Development Funding could come from EITHER a "Buy In" partner, OR it could as easily come from any of a number of Private sources seeking a decent, secure return on their Capital Investment. And given the current Financial Market MESS, there is a great deal of Private Capital currently seeking just such a Safe Haven for long term Security of its Capital with the added benefit of also obtaining a very decent long term return On such an Investment.

Given the above, I think back to past comments made respecting the so called "New Vision" and the contents of the latest News Release (Sept. 23, 2008). In reading that NR it is very clear that Noront Resources is doing much more than proving up a resource and awaiting a favourable approach from a Major.

Though very suggestive, Paragraph's 4 and 5 of the most recent NR (see pasted below) does appear, along with several other Major Corporate developments in the past 3-6 months (RN trip to NYC, Road Shows to Finance Centers by new CFO, addition of Directors, Seniour Staff and Specialty Contract Consultant, all with very specific and varied Skill Sets), to further confirm the notion that that "New Vision" is in fact equated with MINE DEVELOPMENT.

Note that the Talc Matrix composition is very good for allowing relatively simple LOW COST Mineral Concentration once a Mill is in place. Thus, Transport costs will be relatively low due to simple Mechanical High Grading (Consentrating) of the Chromite Ore.

Thus, LOW COST Extraction, LOW COST Upgrading (and to very high % Concentrate), and LOW COST Transportation, ALL ADD UP to irresistable aspirations of SUCCESSFUL implementation of the so called "New Vision".

Am I just dreaming on this?

Old Joe

Paragraph's 4 & 5 from the September 23rd NR:

The recent success of Noront's drilling at Blackbird One and Two, has been a very positive development in the Company's exploration for base and industrial minerals in the Ring of Fire. The grades of Cr2O3 that are typically being encountered by our drilling at Blackbird One, along with a favourable chromium to iron ratio, as well as the large crystals of chromite in a talc matrix observed during microscopic examination of core samples, will potentially place this discovery amongst the best chrome deposits in the world.

While it is still too early to comment on the metallurgical characteristics of the rock and anticipated chrome recoveries, the grades being encountered in holes reported to date, are consistently greater than 40% Cr2O3, have a Cr:Fe ratio that approximates 2:1. This conceptually, would allow for the rock to be fed directly into smelters without any further processing. Concentrating the rock on site could be by gravity separation, at relatively low cash costs after the initial capital investment for the mill facilities. This would allow for substantial value added to the discovery. At current world contract market prices for chrome, of $2.05 (USD) per pound (as per the European Q3 contract price), the grade of 40% Cr2O3 would command a price of around $600 per tonne delivered to a deep water port. Simple upgrading of the rock by use of an attrition/gravity mill that removes the talc matrix and liberates the chromite would enhance the value of the rock substantially."