After the recent site fly-in in which Hoov attended, do you remember him posting this afterwards,

"I spoke for a good while with Jim Atkinson about the PGEs. He was particularly excited about the visible sperrylite (platinum arsenide) crystals visible in some of the core (70W2?). The platinum crystals were secondary (remobilized) deposits, and the hope is that there is a rich source nearby. I'm sure that's one of the prospective drivers for the deep drill program at Eagle's Nest. He also commented that the average PGE grade at Eagle's Nest is better than that of Magma Metals, which is billed as a PGE play. (I did not verify that assertion, however.)"

Then Packsackman posts that Jim Atkinson is no longer with Noront. Did Jim say too much?

In the London Telegraph, Noront was quoted as saying that after they have completed their feasibility study (next year), they would entertain a JV for the Eagles nest or selling off the chrome assets.

I'm thinking of the grades of platinum-palladium at Noront and of Jim's words to Hoov.

Then I start thinking of Barrick. Don't forget Alex Davidson, is from Barrick. I remember a while back reading this below: my favorite words being: We see the margins on platinum being double the margins of gold,” he highlighted.

With the politics of S.A. and the labour issues, electricity issues etc. it would not surprise me to hear someone from Barrick would be interested. After all we have the gold guys already here working at Noront.

The world's biggest gold-mining company, Barrick, is currently conducting a prefeasibility study at the Sedibelo platinum project, on the western limb of South Africa's Bushveld Complex, which, it said on Friday, would be completed by the end of the year.

A bankable feasibility study would then be completed by the end of June, 2008, Barrick Platinum South Africa MD Warwick Morley-Jepson told Mining Weekly Online, in a telephone interview.

In a statement on its website, Barrick said that it planned to spend $26-million, or R183-million, on exploration and on completing the prefeasibility study.

Although Barrick currently has no holding in the company that owns the Sedibelo project, Itereleng Bakgatla Minerals Resources, it has the right to earn up to 50% of the company, on completion of the feasibility study.

“Although we are a gold-mining company, and always will be gold focused, we have indicated our intention to diversify in the precious metals market,” Morley-Jepson stated.

“We see the margins on platinum being double the margins of gold,” he highlighted.

After preparing the feasibility study Barrick in Oct 9. 2009 decided to back off.

9th October 2009

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