Nice musings there, Rob.

As to the 25% cut-off grade for chromite, I don't understand it. Noront's April shareholder's luncheon presentation gave an example of 28% chromite being upgraded to a 53% concentrate (those numbers off the top of my pre-coffee brain) with simple gravity separation. The market may have a cut-off for concentrates, but I don't perceive a practical one in mining ore, unless you're dealing with a disseminated bed inercalated with broad bands of host rock. The overall grade would be lower than 25% for that, though. And that is an economic cut-off, and economics of mining and recovery are stages of analysis that none of us have any information about, at the present time.

I have to conclude that we're seeing more smoke and mirrors. A cut-off was not the reason the estimated resource shrank, IMHO. It may account for the 50-60 million tonne variability, but not the fact that the total tonnage is in that range in the first place.

Lar