Agoracom: Small Cap Investment - Noront Resources - CLIFFS OUT OF CASH? FROM FNC BOARD

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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rago1

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CLIFFS OUT OF CASH? FROM FNC BOARD - RELEVANT TO NOT

posted on Jul 07, 2010 08:10AM

They got their deposits but that doesn't mean they're done yet buying in the RoF.

I think they want to protect their future Chrome operations by making sure that no other miner can be a threat to their Chromite monoploy in North America. Chromium market is tight, so any possibility that someone else can compete with them, or even produce at a lower price (suggestions that C-5 at Fancamp has the potential for even higher grades than Big Daddy; higher grades = lower costs) can be fatal. Almost the entire area between the Chromite deposits of Noront and Big daddy is on Fancamp ground. I don't think Clifs will be investing billions in the RoF, and at the same time await nervously what chromite Fancamp and Noront find that could make their operations virtually worthless with one single strike

Time will tell. Cliffs may have not enough cash on hand now, but that is not a good argument, they are very creditworthy for banks and also can issue shares when needed. It is good to hear that FNC is drilling for Chromite and deep at C-1 for Nickel, so at least we have a bit of an idea of what we have, may Cliffs make an offer