RE:RE:Post-AGM Direction IR...it is no secret that I have always stated categorically that RCF/Noront controlled the near term destiny of the ROF. I still believe that...perhaps a bit more now after thwarting (for better or worse) the latest plan by Frank.
I have also stated categorically that EN will be the first mine developed in the ROF. I still believe that.
So tell me, after you read the excerpt below...why do you believe that Noront's chromite will be history? The history part perhaps will be the infrastructure shared with the EN development to mine the chromite in ideal proximity to the EN mine (Blackbird).
KWG No Mineral Reserves - All of the KWG properties are considered to be in the exploration stage only and do not contain a known body of commercial ore. Mineral reserves are estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. Reserve estimates for properties that have not yet commenced production may require revision based on actual production experience. Market price fluctuations of metals, as well as increased production costs or reduced recovery rates, may render mineral reserves containing relatively lower grades of mineralization uneconomic and may ultimately result in a restatement of reserves. Moreover, short-term operating factors relating to the mineral reserves, such as the need for orderly development of the ore bodies and the processing of new or different ore grades, may cause a mining operation to be unprofitable in any particular accounting period. While KWG does have mineral resources, such resources are not mineral reserves and do not have demonstrated economic viability.
NORONT Blackbird Deposit
The Blackbird chromite deposit was discovered in 2008 and is the second project in the Noront pipeline. It is one of a number of large tonnage, high-quality chromite discoveries in the Ring of Fire. It offers significant potential due to its size, location (less than 1 km from Eagle’s Nest) and grades. Click here for PDF version of the above chart.
Project Details An updated Blackbird chromite NI-43-101 resource estimate, completed in March 2012, tripled the previous 2009 estimate and showed a 44 Mt resource with grades in excess of 35% Cr2O3, and chrome-to-iron ratios of approximately 2.0. In addition, the chromite mineralization at Blackbird remains open along strike and at depth. Initial metallurgical test results indicate that a marketable high-grade chromite concentrate product with grades in excess of 50% Cr2O3, recoveries greater than 80%, and chrome-to-iron ratios greater 2.1 could be produced at Blackbird. Project Status Blackbird may be suitable for underground bulk mining techniques and could share above and below ground infrastructure with Eagle’s Nest. It provides an opportunity for Noront to supply the global ferrochrome market. Our goal is to produce a strategic plan and a comprehensive preliminary economic analysis (PEA) for all of the development options for the Ring of Fire chromite projects.