I found it interesting as well. PRB was mentioned twice, at the beginning on general geology, and later on BC deposit and the real estate.
"Probe Mines has assembled a significant land package in the Ring of Fire and has to date identified VMS mineralisation on its Tamarack and Victory properties. An NI 43-101 resource estimate has been completed on its high-grade Black Creek chromite asset. The deposit includes a Measured and Indicated 8.645 Mt averaging 37.41% Cr2O3 and an additional Inferred 1.6 Mt averaging 37.78%."
The tonnage of 10.2 Mt and high grade of 37.5% CrO3) ave. which is comparable to BD. This grade is more superior than that for BT which CLF intends to develop first (they include a concentrator at some $800M? to bring up the grade). The stuff PRB (BC) and KWG has at BD (KWG 30%, CLF 70%) are qualified as DSO (no need for a concentrator).
What seems to be missing in the article is some more discussion/speculations? on the values of the properties. The speculation would be: CLF would be expected to develop BD as part of its game plan (could even be the first mine). CLF plan would also include BC deposit. The real estate around it for transportation access and waste dump (KWG says 1000Mt tonnes) as indicate through its proxy KWG game plan. After all, CLF has 70% of BD, and PRB 10.2 Mt of DSO stuff is a sizable chunk. PRB already hinted a reasonable price tag of $100+M in its Corp. Pres., slide 6.
Slide 6 says "BC chromite, strategic location between CLF deposits... comparable value over $100M". Going once, going twice and sold to the gent with the name tag "Billy from Cleveland" for...$150M (or is it too low?).
goldhunter
