Funny how I was critical of proofreading and I made a big error in posting the dollar value of the Proven and probable reserves. The numbers are in the billions; not millions; which was the point I was trying to make. This is a corrected version of the first part of that post...
Here's a quote
"Noront Resources Ltd., the second-largest player after Cliffs, has completed studies required for an environmental assessment of its plan to develop the Eagle’s Nest deposit of high-grade nickel, copper, platinum and palladium estimated to be worth $700 million."
So...let's look at the Eagle's Nest Feasibility Study; the numbers were as follows:
Just nickel $2,356,911,000
By-products $1,174,652,000
Total $3,540,564,000 gross metal value
Note as well "A feasibility mine plan has been developed using the combined measured and indicated resources; no inferred resources have been used."
So, my point was actually to demonstrate how the article grossly undervalued the eagle's nest deposit. I believe in their $60Billion worth of resources in the ring of fire, they include some outside of proven and probable reserves, and appear to give greater weight to the Cliffs chrome deposits.
If we include the inferred resources as well, I'm sure we're at about $5 billion....for the eagle's nest alone. Add to that their chrome, eagle two, AT12, JJJ, and the vanadium/titanium....and the unexplored claims.
