ANBCA:

I've had a read (some of it cursory) of the MICON report now out on SEDAR. Well worth everyone's time to review.

The study actually suggests comprehensive metallurgical studies on the chromite before either moving ahead with a prefeasibility study or more infill drilling (about 27 holes - one of the figures in the Appendix shows them).

I guess the metallurgical studies are important because of the quality (excellent - >40%) of the chromite ore - much of it referred to as "lumpy ore" (direct shippable). This must directly affect the value and potential marketing of the ore. [I think Cliffs understands this - ergo - their "hots" for Big Daddy]

I will ask Neil as to the potential cost of the metallurgical studies, and its timeline.

I should also note that reference is made in the MICON report to minerological studies. But I'll have to go back into the report to reread as to why this might be important.

Thanks to SRV for the SEDAR link.

Snug