Some of the figures previously provided on this board (in terms of the value of our recent Cr2O3 find) are questionable, to put it mildly. If we begin with the current value of chromium, we find that it is currently around $11,140 per metric tonne. See:
http://www.recycleinme.com/scrapreso...
If our grade is 52% chromium oxide (Cr2O3), and out of that portion we can process 35.5% Chromium (Cr), then, multiplying those figures, the true Chromium percentage of these orebodies is 18.5% Cr.
Quote from latest release: "of 90 individual chromite grains in samples from holes NOT-08-1G3 (134 m) and NOT-08-1G20 (247 m) show that the compositions of the chromite grains show little variability around an average value of 51.9 weight percent Cr2O3 (standard deviation of 0.98 weight percent), equivalent to 35.5 weight percent Cr."
Multiplying 18.5% per tonne times the value per tonne, $11,140, we get approximately $2,061 per tonne as the value of the processed Cr2O3 ore bodies we hit. So, based simply upon the Cr values (excluding the iron, and other values), this is very valuable ore indeed (though not as valuable as some have supposed). Nevertheless, this find is terrific, especially considering the huge thicknesses involved. If you figure that there are approximately 2.5 tonnes of this ore in every cubic metre, and multiply that by the lengths of the intercepts, you get an idea of the value of that particular column of ore. Later, as we get news of the extents (laterally) of this Cr2O3 ore body, we will get some idea of how Eagle 2 stacks up against Eagle 1. But, I've got to say, it is looking really good!!!
