8.9 million tonnes of resources indicated... 6 more intercalced or something...
ONLY 15 MILLION TONS OF CHROMITE!!!!! Compare that to Freewest 2 or 3 trillion tons of....... according to "some" posters (just kidding, but they do seem to think bigger and bigger tonnages all the time ;-} )
TOTALLY WORTHLESS...
From the news release,
"During the fourth quarter of 2008, Noront's management committed the funding necessary to identify a chromite resource at Blackbird. Management's objective was to define a Measured and Indicated chromite resource sufficient to support a 200,000 to 225,000 tonne per annum ferrochrome furnace for 15 years. At then current prices, Noront management estimated that a project of this size would generate approximately $500 million in revenue per year."
Does everyone realize that this doesn't add any value to Noront??? I mean, $500 million/year for only 15 YEARS??? Now, time to get my calculater going again...
500 million times 15.... let's see, carry the 5, move the 2 over one spot, add a zero....
Awe man, it's only going to generate $7.5 Billion worth of revenue. Oh man, I was hoping for about 3 times that for about 50 years...
OK, OK. Time to stop kidding around. $7.5 billion dollars is NOTHING to sneeze at!!! ESPECIALLY when you combine it with the Eagles Nest etc... And their still drilling out there... NOT infill drilling, but Exploratory drilling!!! Think they will add any tonnage to our already growing estimate of ORE???
I do. And I'm not selling any of my Noront shares yet... I want to see what they will be worth when this "end game" comes around!!!
Let the GAMES BEGIN!!! (End games, that is)
Herb
