http://www.norontresources.com/News/PressReleaseDetails/300

Back in March 20, 2012, Noront had a press release (link above) mentioning:

The updated estimate demonstrates that Blackbird is similar in size and grade to the nearby Big Daddy and Black Thor chromite deposits. 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. The Company intends to complete an internal evaluation of a northwest Ontario based mine, mill and smelter facility capable of producing between 200,000 and 250,000 tonnes of high quality ferrochrome annually, approximately equal to current North American imports, which originate from South Africa."

The current share price does not even reflect the value of the chromite. I still remember very very vividly a Cliff's rep. appearing on ABC eyewitness news speaking shortly after the Freewest acquisition. I remember the words ,"by purchasing this little Canadian company..once the mine is open...we will be able to increase our revenues by 50%."

50% equates to about 750 million per year. Now, shrewd investors will read the March 20 press release ...again....and ponder on the similar in size and grade to Big DAddy and Black Thor and ponder again on the significance to COST of exploiting the same underground infrastructure as the Eagles nest (something that Cliffs doesn't have!!!).

when you think about real numbers which are eagles nest AND the chromite...you can only wonder how much longer the share price will be supressed and when the action will begin. I wonder how much institutional ownership Noront has by now and can only imagine the fireworks when this stock starts to move to a proper valuation.