Re: What could CLF do with an extra $1 billion

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meadow hen

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Re: What could CLF do with an extra $1 billion

in response to

What could CLF do with an extra $1 billion

profitz

posted on Sep 16, 2010 08:11AM

Reasonable assumtions Profitz. One small correction, the drilling depths are in meters, not feet. But I agree that it is not unreasonable for the chromite to extend to 400 m or deeper. I believe Dave plans on drilling the full length of the zone on PRB's claim as well as to the 400 m level. This hopefully will at least double the tonnage.

I have no idea how long it will take to get the updated 43-101 or if Cliffs will take this out prior to completion of the analysis, if they do make Dave an offer. I don't think they waited for the completion of 43-101 on the KWG/SPQ chromite so if this holds true and the drilling gets completed by Nov. we could see some action before the end of 2010. That would be OK by me as I have held this one for far too long.