Agoracom: Small Cap Investment - Noront Resources - comment from Cliffs analyst and investor meeting yesterday

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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joe

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comment from Cliffs analyst and investor meeting yesterday

posted on Jul 27, 2012 07:02AM

as stated by the CEO

"For our chromite project, we expect to spend approximately $75 million in 2012. During May, our Board of Directors approved the advancement of the project from the pre-feasibility stage of development to feasibility. During the quarter, we also announced an agreement in principle with the Government of Ontario for key elements of the project, including the development of provincial infrastructure. We are looking forward to providing additional components of the project economics, as well as other meaningful project information, at our Analyst and Investor Day next week in Montréal"

Stay tuned for Montreal.

As Cliffs SP goes down the crapper there will be more pressure on them from the Hedge Funds, and we all know what that means