A new chapter
posted on
Mar 28, 2014 12:29PM
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)
I stil remember the day that Cliffs went on Eyewitness news and boasted about the mere 211 million they paid for a Canadian Junior ...that when..in production they would increase their revenues by 50%. I remember looking back and wondering what their revenues were at the time ..and they were 1.5 billion. So, back then..it was anticipated that the chromite would bring in revenues of 750 million per year.
Noront has equal or most likely MORE chromite than Cliffs and I wondered when this fact would become more public.. When you read the news stories ....you were lead to believe ..Noront has a nickel copper PGE deposit in the ROF and Cliffs and KWG have the chromite deposits. It seemed the market didn't assign a value to Noront's chromite...because ..perhaps..they didn't even realize they had it. It wasn't broadcast. It was under the radar stuff.
I read the recent Noront March MD&A and it looks like 2014 is the year that the Noront Chromite...is no longer "under the radar." Here's a little copy and paste from the recent MD&A
"Noront states: one of their primary objectives for fiscal 2014 is to : Evaluate the Company’s other mineral deposits in the Ring of Fire region to maximize value"
also pay attention to this sentence in the MD&A about leveraging off of infrastructure developed:
The Company continues to evaluate opportunities to accelerate the anticipated production date of the Blackbird
chromite deposits.
The Company is evaluating development models for a modest (approximately 1 mtpa) underground bulk chromite operation that
leverages off of infrastructure developed for the Eagle’s Nest Project.
"The Company’s primary objectives for fiscal 2014 are to:
Further develop its flagship Eagle’s Nest (nickel-copper-platinum-palladium) Project which will commence production
after a three year construction period including:
Securing support for the Company’s infrastructure plan from the Provincial Government of Ontario, the Federal
Government of Canada and local community stakeholders;
Advancing the Environmental Assessment (“EA”) and Environmental Impact Study (“EIS”) processes through
public review towards final submission and approval;
Ensuring the support of First Nation Communities for the Eagle’s Nest Project by engaging in community
consultation and negotiation of partnership agreements;
Progressing project engineering and developing a construction-level estimate sufficient for a development
commitment;
Evaluating and progressing financing options;
Evaluate the Company’s other mineral deposits in the Ring of Fire region to maximize value."
...................................
Blackbird Chromite Project The Company is focused on developing its most advanced project, the Eagle’s Nest Project. The Company’s longer term plan has always been to start development and production from the Blackbird chromite deposits once production commences at Eagle’s Nest. The Company continues to evaluate opportunities to accelerate the anticipated production date of the Blackbird chromite deposits. The Company is evaluating development models for a modest (approximately 1 mtpa) underground bulk chromite operation that leverages off of infrastructure developed for the Eagle’s Nest Project.