I'll take a shot at this question.

I dont think that NOT and Cliffs are necesarily working together directly. But it wouldnt surprise me if there is something brewing so that each can benefit to the max from the chromite resources in the area.

Here is my logic. Right now Cliffs is trying to take out SPQ for majority control of the Big Daddy chromite. Lets assume that Cliffs prevails. They have the deep pockets so there is a good chance that they will end up with SPQ. Then Cliffs has control of Black Thor/Black Label and Big Daddy.

Now what is smack dab in the middle, right in between these two chrome deposits, about equidistant from each? It's the Black Creek chrome deposit and NOT has 50% of it. Black Creek has high grade chrome, it is close to surface and very important strategically, it is the highest ground in the area.

Now go back a few weeks. Wes came out publicly and stated that he may "vend" (i.e., sell) NOT's chrome resource to help finance a nickel mine. Cliffs said last fall that they werent interested in NOT's Black Black Bird deposits. So I am thinking that Wes wasnt speaking about Black Bird when he made the statement about selling NOT's chrome resource. I think he may have been referring to their interest in the Black Creek chrome resource.

If Cliffs prevails and gets control of Big Daddy, I dont think Cliffs is going to mine chrome and go around Black Creek. I think they will want Black Creek as the next logical purchase in the mix. Perhaps it was Wes's intention to publicly let Cliffs know that if they are interested in buying, NOT is interested in selling.

If this happens then everyone comes out ahead. NOT would get cash (or stock which can be sold for cash) to fatten its treasury. The best part is no dilution. Plus, when buyouts happen (in this case a partial buyout) share prices go up, quickly.

Micron is at the Black Creek site right now. They have been there since 6/8/10 working on the 43-101. It will be completed and published in about a month. Lets wait for the 43-101 and see how things develop. I am optimistic that before the end of the summer we will see some good things happening with regards to Black Creek and NOT has 50% interest.

Just my latest theory. Perhaps it makes sense. I am sure you guys will let me know either way.

Good luck to all.

Profitz