Norra Metals Corp V.NORA.H

Alternate Symbol(s): NRRMF

Norra Metals Corp. is a Canada-based precious and base metals exploration company. The Company’s principal business activities include the acquisition and exploration of resource properties. Its Norwegian assets include the Bleikvassli polymetallic, zinc-copper-lead-silver underground mine project and the Meraker copper-zinc- gold exploration project. It also holds a 100% interest in the Pyramid copper-gold porphyry project located in Northwest British Columbia. The Pyramid Property is located approximately 65 kilometers (kms) north of Dease lake in north-west British Columbia. The Company’s Bleikvassli property is composed of the last copper-zinc-silver-gold producing mine across six contiguous exploration licenses totaling 60 square kilometers (sq.km) of area in the Hemnes Municipality of the Nordland Fylke Province of Norway. The Meraker property is composed of approximately 21 contiguous mineral licenses totaling 206 sq. km in the Meraker municipality of Trondelag County, Norway.

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Norra Metals Corp

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Comment by GACABon Aug 12, 2011 1:39pm

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Post# 18936419

RE: Production costs exgagerrated?

It wouldn't be that the $64M of management fees are baked into the production costs would it? Orko Mangament specifically highlighted those in their press release. I need to read the press release again and understand it better (i.e. is it $64M per year or over the course of the mine and are the management fees paid to PAA (I assume they are).

Just throwing that out there as a possible explanation, correct me if I got it wrong. If that is the explanation then these would not be incurred if PAA did not go ahead with the project. The question is, if PAA did go ahead with the project are they allowed to charge this sort of magntitude in Management fees? I guess the JV agreement may spell that out better (maybe).

Will look into it later (at work and don't have time).

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