I did some calculations on our chromite deposit known as the Blackbird. 43-101 states 8.9 MT M&I and 6.1 Indicated. So let's just lump it together as 15 MT 33% Chromite. Latest prices of South African ore (which compare in grades to ours) come in around 200-240/Ton.

I will be conservative and use $100/Ton. That comes out to a $1.5 Billion deposit. In situ of 10% would bring us to $150 million. So, right now we are barely worth our chromite.

Seems likely that we could negotiate an agreement to sell our chromite on a nice discount and retrieve the capital necessary to startup our infrastructure plans. Wes has mentioned selling the chromite on many occasions, so we will see how this pans out.

It would be strategic to push ahead on mining this area and getting our ore to market first or at least act like we are. Then Cliffs will have no option except to make a move and offer a deal. And it will be a friendly deal unlike our weaker ROF brothers.