That is based on the calculations last night. A respected poster sent me some info on the Chromite. Lumpy Chromite is worth $325 per ton. I know part of our chromite qualifies as lumpy, just not sure what the percentage is. Assuming we process it into ferrochrome, then the value is much higher and will look that up via the links from this poster.

At the end of the day, we have roughly, at this point, 20 Billion dollars worth of high grade minerals and 200M s/o. So for every dollar, we have 1% In Situe value.

I was looking for the NPV calculated last year at $2.54 per share. We have had some dilution since then but we also have increased our resource and are now closer to production by a year or so. It would stand that our NPV is therefore higher than this original $2.54 giving someone with very deep pockets lots of incentive to buy shares even at these somewhat higher prices.

Other drivers of this rally include the rumored other "nickel hit", the exciting geophysics leading to quick drilling of targets, infrastructure announcement that could be getting closer, an electricity deal... On the 3 year chart, we are still way off our highs. We could consolidate at these levels and go back lower or we could keeping charging up. I just know I am happy not to be shorting this one!

Another interting day coming,

Glorieux