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: cliffs presentation

These resources are so large that is they were mined at rate that would deplete them in 15-25 years I feel they would depress the global chromite market and no-one would make any $$. The rate of production has to be geared to the rate of existing mines and when they get depleted production can ramp up. Remember, this will be a high cost mine to place into production, due to the ROF distances involved, so a smaller mine that might take 200 years to deplete the resource might be the best economic plan. After all Cliffs does not want to dump all that Chromite into competing stainless steel.

World production of chromite in 2008 was 24 million tonnes, and needs to climb by 50% in the short term futureetc

http://www.guardian.co.uk/business/feedarticle/8800240

So if Freewest and KWG and friends have 200 million tons or more, they can produce 2 million tons annually for 100 years and who knows how much more will be found as they and others round round the ROF? As other global players run out of chromite, they will be able to fund expansion from internal funds

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