Re: Those considering not tendering, here is another scenario

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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MISFIT1

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Re: Those considering not tendering, here is another scenario

in response to

Re: Those considering not tendering, here is another scenario

Sum4All

posted on Dec 08, 2009 04:42PM

Agreed Sum.

And let's face it. Cliffs is betting on buying FWR for 200M in stock on a $6B float. While not peanuts it is a price they can afford. Who knows? They may have plans to never develop the property, but just keep their competitors from gaining a foothold in the area until such time as the infrastructure is in place.

This is quite common in the land development industry. Buy up huge tracks of land not as much to attain short term profits but moreso to ensure your competitor does not have the slightest chance of staying in the game long term.

I am just thankful we have more than just Chrome within the NOT ROF holdings. As I have always said, the chrome is a bonus. The Nickel, Copper, PGMs, and the host of other metals coming out of the ground is the main stay. Now only if we could throw some diamonds into the mix, we could attract De Beers into the mix.