It's good to finally see on paper what CLF has in mind for the ROF, with some dollar figures attached.

Also included are a few clues as to the final outcome of negotiations that have been ongoing for some time now regarding infrastructure.

They seem to anticipate a road being constructed, as well as having gov't assistance to do so. The cost of 600m is higher than what Noront suggested, and less than a third of the cost of rail. However the puzzler is that they needed rail to move 600k tons of ore before, and now are aiming for 1.6 m tons. They sure can't move that amount by any other means.

Next question is where are they going to market a mill tons of chromite? 1.6 mill tons of chromite will produce an end product of about 750k tons of chrome. Actually, if they concentrate it on site, the figure is more like a mill tons of chrome, going into a marketplace needing 1.2 mill tons worldwide. End result is they will flood the market and destroy it.

They do not anticipate any great expenditures until 2014, depending even then on their ability to get through the permitting stages in a timely fashion.

Although this release does contain a lot of information, there is a good bit of pie in the sky attached. I would expect that Noront will follow shortly with an update on their intentions, which we all should pay closer attention to. To date they seem to have a mining plan that could work, and it could and should include a plan that includes chrome being direct shipped to Baosteel. If handled properly, they could be shipping product while CLF is still flexing their muscles with FN as well as the Ont gov't.

Best regards

K