"The more ore that stays in Canada means more jobs for Canadians and that should be paramount right now."

Cliffs has a plan undergoing feasibility at the moment. This plan entails processing a million tons of chromite a year, which will supply the north american market. They do not envision being able to process additional product to ship to the asian markets economically. Also, they cannot build the necessary infrastructure based on a million tons/year production.

The bottom line is they must be allowed to produce 2 mill tons/year, process half of it and ship the rest offshore, or this project will never be completed.

As a Noront shareholder, this all means nothing to me, other than whether the economics are there to complete the infrastructure. If so, we will build a nickel mine, but secondary to that, if an offshore permit exists for chromite, it is a much easier matter to get a second one.

The hard fact is, we are not talking about a five year plan where we can highgrade the area and leave, as has been done so often in the past. We have in excess of a hundred years worth of minerals in the ground, so far. If there is any way to maximise the bottom line by increasing infrastructure, it will be done.

This feasibility study puts our present value at approximately 2.30/share. If a value could be affixed to our chromite holdings, that could double our value, but only if we have permits in place to mine, a transportation system to ship via, and a permitted destination for the ore. At present we have none of them for our chromite, and only a probable maybe for the nickel.

Best regards
K