From Cliff's earnings call Q3

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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Babjak1

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From Cliff's earnings call Q3

posted on Oct 28, 2011 03:26PM

cliffs's expects to incur 45 million in spending related to chromite project.

http://seekingalpha.com/article/303256-cliffs-natural-resources-ceo-discusses-q3-2011-results-earnings-call-transcript

In addition, we anticipate incurring a total of $40 million for exploration activities and approximately $45 million related to our Chromite project. Based on our current expectations, we intend to generate approximately $2.2 billion in cash from operations in 2011. Our CapEx budget is being revised down from the previously anticipated $1 billion to approximately $900 million, as a result of timing and lower-than-anticipated cash outlays for our growth projects, which all remain on schedule.

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