Morning all, sun is shining and we wait not so patiently for some market recovery.

Everyone seems to have worn out a few pencils while we continue to get a grip on Chromium deposits and potential size.

No question that in order to arrive at a value for insitu deposits all majors will be considering the need for large capital expenditures for building facility to turn the Chromium into FerroChrome and how long it will take to payoff such capital by processing x number of tonnes. Similarly the railroads want profit on hauling to say Sudbury along with recovering the capital cost of putting in line.

The more Chromium the longer time frame for extraction, shipping and processing which means longer amortization period for capital investment and more value in situ for each tonne. There will me a minimum number of tonnes to make this work and of course Nickel/PGM's/Copper/Zinc resources can be tossed into the pot.

Insitu deposits will consist of 'proven' and 'inferred' and both are needed to make calculations. We don't really have numbers for either just yet so don't look for 'deal' tomorrow.

However it occurs to me that perhaps the question of 'inferred resource' could be answered a bit more quickly than at first thought for chromium deposits. IF a number of drill holes confirm that geophysical measurements such as vtem and in particular gravity measurements can be relied upon to arrive at an 'inferred resource' then Majors could move quickly to take a position.

It seems possible that Noront, FWR, SPQ and others working together could put together a geological resource study combining known geophysical data with drill results AND a comprehesive theory of deposits to come up with a huge and therefor viable 'inferred resource'. Beauty of this is it could be done much earlier than actual drilling to 'PROVE' actual resources.