Bananaboy you stated;
The figure you give for the value of Chrome is that for the Big Daddy deposit, which isn't the same as Not's chromite. Big Daddy is larger and a little richer. However, prices have risen since the study was done, so the figure could be applied to Not chromite in a ball-park figure kind of way. Just try to be accurate as possible when citing valuations.
Maybe read it once more!
The numbers i mentioned are from the PEA 12th april 2011 Based on
| Potentially Mineable Resource (based on the estimate dated March 30, 2010 by Micon International Limited) after mining dilution & recovery |
25.35 million tonnes Indicated Resources @ a grade of 38.02% Cr2O3 and 13.54 million tonnes Inferred Resources @ a grade of 37.03% Cr2O3 |
We got;
Measured and Indicated Resource
20.5 M tonnes averaging 35.76% Cr2O3 and 1.97 Cr:Fe
Inferred Resource
23.5 M tonnes averaging 33.14% Cr2O3 and 1.97 Cr:Fe
40M in total for Big Daddy and 44M at Blackbird.
So i feel confident enough to say they are equal in value.
I am even confident enough to say we are more valuable because of the shared costs with our Eagles Nest. Wes agrees;
The close proximity of Blackbird to our flagship Eagle's Nest nickel sulphide deposit offers exceptional synergies as both deposits can be exploited using the same underground infrastructure, limiting the incremental capital cost while minimizing the environmental footprint
