Sudbury,

I realize current prices are not the same as those in 2011 but here is what KWG put out in 2011.

http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=KW6:GR&sid=aelDRaHOHaQ0

Project Financial Analysis Results

Undiscounted gross revenue for Big Daddy was shown as 12.64 billion

KWG's 1/3 portion was estimated at 3.79 billion.

Black thor is not even in this estimate as it belongs to Cliffs.

Noront has almost the same amount of Chromite as Cliffs Big Daddy and Black Thor ...to date.... With the discovery made by Bold..it looks like Noront may have a lot more chromite. It looks like it goes all the way to Fancamp.

So looking at 2011 values you can add many many many more billiions to the value of Noront's gross revenue if just 1/3 of Big Daddy was 3.79 billion.