OTCPK:NOSOF - Post Discussion
Post by
startenout on Mar 15, 2022 9:28pm
A news article snippet worth reading
https://bit.ly/3JfcEpe. Full article here
Regarding the exploration assets, the most advanced asset seems to be the 50% interest in the Koper Lake project (KWG Resources owns the balance). A large chromite project in the Ring of Fire, Koper Lake has a 85.9Mt @ 34.5% Cr2O3 (chromite) 2015 Inferred resource, which is NI43-101 compliant. To give you an idea of value, the price for 42% Basis CIF China is about US$200/ton at the moment, so with some concentrating the in-situ metal value would quickly surpass US$4 billion, which is comparable to a 1 billion pound copper deposit or 2Moz gold deposit.
The property is surrounded by Noront ground, which was the focus of the very recent bidding war between BHP and Wyloo, resulting in a buyout price of CA$616.9 million. Although the Ring of Fire has been waiting for substantial infrastructure investments for a long time now, Wyloo seems convinced it can singlehandedly kickstart these investments. This is not unrealistic as Wyloo is backed by one of the richest men in Australia, billionaire Andrew Forrest, founder and major shareholder of Fortesque Metals Group, one of the largest iron ore producers worldwide, who mentioned building out the Ring of Fire as one of his focus points for the near future.
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