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: If I was a Major

Re: If I was a Major

posted on Dec 11, 2008 03:40PM

Well said and echo'd by many of us. Noront is certainly holding card close to their chest and that doesn't seem likely to change in the near term. If that shakes out retail holders it's more for them to pickup or trade against.

This is the time of year for dragging sleds all over prime targets for Chromite with sensitive gravity test equipment. Given FWR's huge target I'd find it likely Noront will also be on the hunt to enlarge upon their high grade deposits.

Nickel in E1 and E2 may fund infrastructure but lately it's the Chromite that looks to be a 10 to 20 year mine resource.

Taking longer than anyone calculated but Noront has defined nickel resource which can only rise in value as recession gets work through. More will likely be added at both E1 and E2 along with a few more hot deposits highly likely (Noront has too good a handle on geology now to come up empty on all remaining targets).

Windfall has me completely baffled but underground work going on should put some value back on the table from that source. Too easy now to drop some high grade ore from below and contract mill it for this to be walked away from. Somebody will mine it and if Noront does a jv to get it on line faster I'll not object too strongly.

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