"The fact that our neighbours are appreciating in sp with little improvement in assets while us doubling to trippling (mostly Eagle) ours and our sp actually going down in that time means that something is afoot. I think the sellability of our metals has a lot to do with it because they are needed for the road, rail and power lines to make the region viable in shortedt time."

The above statement says it all, Ed. You can take all the other pumps, dumps, theories and possibilities, and set them aside. The above paragraph is all you need for reference of where we will be at some point. The only real unknown is 'when'.

The recent action with PRB only serves to strengthen our position. We don't know the actual reason for this splitting up of the JV's, but one can presume there is sound logic in what they are doing. CLF has spent 375mill to get what it has so far, but if one takes a serious look at the map of the area and understands that they are still completely surrounded by NOT property, and what they have accumulated to date is miniscule compared to what NOT controls. If one takes another look at the local map around Eagle1, it is also obvious that if NOT wanted to take the time and money to drill they could easily duplicate the tonnage of chrome that CLF owns. One hole at AT1 shows them they likely have a mineable resource within the capture area of a shaft designed to mine Eagle1.

Couple that with the fact that they were willing to separate this JV with PRB in light of the rumor that there is probably 50mill to be had for their chrome. If they are prepared to forego a 25 mill share of PRB's property in return for the stuff above Eagle1, on which they have just completed new geophysics, speaks volumes. They must know a lot more than they are telling us.

I am still sticking to my timeline, whereby FNC will get taken out, and NOT to follow, but this nice little gift from PRB in the meantime is much appreciated.

Best regards

K