Khareema, I like the way you roll.

You posted:

I also wonder about the posters that keep worrying themselves about the BOD being there simply to do a deal with some major as soon as possible and get out of town. That kind of logic is stupid, in my mind. Think about it. They have control of the greatest thing to hit the junior exploration market in many years. If they can prove up, maybe 100-150 mill tons of chrome, and maybe as little as 10-15 mill tons of nickel, they will have a winner. They have the odds on their side. Why would they give it away to someone else to have all the glory. Think of the BOD as the same as you think of yourselves.

I say if we prove up what you have hypothetically denoted above, we will have a Home Run.

For fun, let's assume that Noront ultimately recognizes 75 mill tons of chromite, no more Nickel outside of E1 is discovered (putting no value on E2, At12, at depth below E1, etc) and at the same time let's assume that Noront has to issue an additional 40 million shares to prove up this said 75 mill tons of Chromite.

We know that as per the E1 43-101, it's value is roughly $2 Bn. Assuming that our Chromite is consistent at roughly 40% Cr2O3 and it has favorable metallurgical charactaristics, we can use a conservative value of $400.00 per tonne. Therefore, our Gross Metal Value would be:

Chromite: 75 mt at $400.00 = $30 Bn

Eagle 1 $2 Bn

Total $32 Bn

With the addition of the hypothetical 40 million shares, our float would be roughly 200 million.

$32 Bn / 200 Mn shares = $160.00 per share.

Ultimately we are bought out for 10% in-situ or $16.00? Voiseys Bay was what, 40%.

Now, I understand that this is an overly simplistic valuation model with alot of assumptions but what I am attempting to demonstrate is this:

These numbers are not "pie in the sky" and our BOD and the institutions know it.

Cheers gang.

Milsy1