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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20 million tonnes

posted on Mar 02, 2010 08:43PM

I've been thinking of Dundee's quoted potential 20 million tonnes before we even start poking around with the deep drills.

Back in March 1995 Teck Corporation acquired 10.4 percent of Diamond Fields for $108 million. At this time they had 30 million tonnes of Nickel Copper and Cobalt. So, based on their 30 million tonnes their market cap was over 1 billion dollars. The price of nickel back then was around $3.70 per lb.

Noront's current market cap is 265,099,344. The price of Nickel alone is almost 3x more than it was in 1995. THREE times more. Factor in the current price of copper and the precious metals and it leaves your head spinning when you think of what we are sitting on.

If our updated resource comes out with anything close to 20 million tonnes...watch out.

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