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.)

almost 15 years ago

in response to bananaboy's message

The Cliffs $800 million excludes all transportation investment costs. That was clearly expressed in the Cliffs multimedia presentation yesterday.

You're using future projected valuations for your chromite calculations. The October 2008 economic assessment at Eagle 1 used five year trailing average metal prices, and it's a year stale-dated. That's what I expected you to check.

Update the contained metal valuations at Eagle 1 to current market values, and make sure that you've stripped out the tranportation infrastructure costs, use only indicated and measured resources for both of the economic calculations, and then do your comparison. Until you do, you don't have a valid comparison, because you're comparing the two using different assumptions.

DD isn't using somebody else's numbers, or assuming that what you heard is correct.

Lar