Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)
in response to rodg45's message

rodg45,

I do agree that we are approaching this different ways - you are looking at the price of the refined chromium, and I am looking at the price of the Cr2O3 ore. You end up with a value of $2,061/MT and I end up with $1580/MT. Given that the difference seems reasonable for processing chromium ore into metal, I do not see any conflict between our figures. In fact, since we independently ended up with such close figures, I think that should give us more confidence in the numbers.

Best regards,



"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."

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seawind
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