Agoracom

Lets hope that what we do have is Nickel and not Chromite, as SPQ and FWR JV uncovered. ...Let's hope FNC's hit is not Chromite but the good stuff. And let us hope it's better then NOT's Eagle One hit. If it is at minimum equal to NOT, what can we anticipate FNC's price to rise too?

I think maybe you are missing the same point that the market is. Nickel is very good, and that is what everyone here thought that the ROF would become - the next nickel mine. But to discount chromite as waste material is just foolish.

There are estimates out, to be confirmed by a 43-101 (which I am sure is being worked on) that the Chromite for NOT's properties could reach as high as $50,000,000,000. And this is not desirable?

Eagle One, as good as it was, is estimated to be in the $2,000,000,000 range. I would think, given that the VTEM signatures for FNC do not appear to have a lot of E1 signatures on them, that you would be hoping that there is a lot of chrome on the FNC properties, which apparently does not show well on VTEM. Otherwise, Mr Smith has staked a lot of moose pasture after all.

The SP gives a current market cap of about $50,000,000. If indeed C1 is equal to E1, then the SP should rise, and rather dramatically. This will also add to the economical tonnage from Noront and provide one last step to getting a mine underway. Indeed, a E1 type find would be good for all players in the area. However, the market is fickle.

The July 14 NR diagram does show the ATEM Survey Map, not VTEM data on page 2. Page 3 shows VTEM data for a single target - C1, which corresponds with the FWR VTEM survey. This may be the only target on the property.

I would say that this area (C1) probably will show significant mineralization. How good will be determined by the assays, but I would not be surprised to see E1 like results.

The remainder of the property lies in line with the Chromite finds for Noront and Spider, which is good.

To sum up - Do not discount Chromite like the rest of the market. A Nickel find will add to tonnage of the area, and may help meet the economical tonnage that the market is looking for, increasing the SP for all players.