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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To get into the chrome business you have to compete against present producers and you have to be able to sell your product profitable at or below your competitors operating costs, which I guess is in the range of 150 to 300 $/tonne of Cr2O3. This is extremely hard to do when considering infrastructure costs and the long shipment to Quebec City or elsewhere. Rail costs are in the region of 2 to 4 cents per km per tonne, so a round trip to nearest port becomes a significant cost. Truck is even more



Why Quebec city? Is there something I don't know. The nearest port is in Thunder Bay. Also, the ROF is geographically very close to the centre of canada. The fastest route to Asia - if thats where you're thinking of shipping - is by rail to Prince Rupert and the port there.

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