Ringer, below is a link to  210 pages by Micon engineering..for KWG done April 12, 2011.

http://kwgresources.com/wp-content/uploads/2016/11/2011_05_26_NI-43-101-Big-Daddy-Chromite-Deposit.pdf

If you take a look at the price of ferrochrome back then and look at it today..it has not changed much.

http://www.infomine.com/investment/metal-prices/ferro-chrome/

To keep it really simple 39 million tonnes was estimated to generate a gross undiscounted revenue of 12.64 billion or a NPV of 2.48 billion pretax with a discount of 8%. (page 185) based on this micon study

And Noront controls how much chromite of the 340 million estimated to be in the ROF?

And Noront has the eagles nest and a tremendous amount of minerialized property yet to explore.

And noront can access the eagles nest and chromite from the same mine shaft. Noront has done a study on the eagles but has yet to do one with the eagles next and chromite combination.

The rail estimates in the Micon example are around 900 million and china came back with roughly double that price to KWG to make the rail more beefy. This extra is irrelevant in the scope of 340 million tonnes. So is open pit vs. underground mine extra cost.

We can look at the current demand for ferrochrome but need to look at projected infrastructure spending.

Also, with having a local chromite supply and smelting with Natural gas which is approx 50% savings compared to electric arc furnace..the overall cost of making stainless should come down. THis would most likely open up even more markets for stainless.