Re: A hint from Wes of things to come?

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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4theloveofthegame

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Re: A hint from Wes of things to come?

in response to

A hint from Wes of things to come?

Babjak1

posted on Jun 09, 2011 12:08PM

Babjak

That is not my understanding. The up to 30 % (30% of $700 million is $210 million) was not an investment but the cost for Baosteel to obtain "exclusive" supply of nickel and chromite. I thought this was crazy but Wes said these off-take deals do happen. In my mind this will probably be a loan, or discounted sales, but who knows.

The important point I gleaned from the conversation is Wes thought the Baosteel deal is and will be a very, very, good deal for Noront.