#RingOfFire (#RoF) News – March 4, 2020

• “Noront Statement on New Partnership Between Government of Ontario, Marten Falls and Webequie First Nations to Move Ahead With Road Access to the Ring of Fire”
• “Ontario, First Nations sign on to access road for Ring of Fire” (Law Times)
• “Ontario government signs agreement with two First Nations on Ring of Fire road” (CBC News)
• “Doug Ford still chasing Ring of Fire dream” (National Observer)
• “Ontario signs Ring of Fire road access partnership agreement with First Nations” (miningweekly.com)
• “Deal inked to plan north-south road to Ring of Fire” (Sault Star)
• “Ford government signs new road deals with Indigenous communities” (thepostmillenial.com)
• “Province, First Nations sign critical road agreement” (North Bay Nugget)

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  “Liberals ‘paved the path’ for Premier Ford’s Ring of Fire deal: Wynne” (CTV News)

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  “Doug Ford cites unproven projections in touting Ring of Fire –– Ontario Premier Doug Ford says mining in the remote Ring of Fire region would add $9.4-billion to the province’s gross domestic product – just a day after saying his government had no reliable estimate of the mineral riches in the northern area. Speaking in the legislature on Tuesday, Mr. Ford said development in the Ring of Fire would also create 5,500 jobs a year, $6.2-billion “for the mining industry” and $2-billion in government revenue. His numbers appeared to be drawn from a 2014 Ontario Chamber of Commerce study that looked at the Ring of Fire’s potential economic impacts over 10 years and assumed that four massive projects to mine chromite – which is used to make stainless steel – would be built and operated at a profit. But the viability of those chromite projects have never been proved by Noront Resources Ltd., the tiny junior miner that owns them …” (Globe and Mail)

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  “Not everyone’s keen on a Ring of Fire road” (Northern Ontario Business)

• “Not everyone is on board with a new Northern Link Road to the Ring of Fire. Neskantaga Chief Chris Moonias says “You can expect opposition if Ontario, or any road proponent, tries to put a shovel in the ground of our territory without our consent.” Moonias says the proposed all-weather road bisects the core of their territory and crosses the Attawapiskat River, the lifeblood of their culture and way of life. He notes the days of “courtesy call” Indigenous consultation are long over, noting he found out about the road announcement in a last minute phone call from Ontario Indigenous Affairs Minister Greg Rickford …” (ckdr.com)
• “The road to the Ring of Fire needs to go east-west, say northwest communities” (Northern Ontario Business via Sudbury.com)
• “Fort Albany First Nation ‘alarmed’ at plan for Ring of Fire road link” (TBNewsWatch.com)

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  “Ontario to Release 2020 Budget on March 25” (Gov’t of Ontario)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – March 2, 2020

• “Federal government orders regional impact assessment in Ring of Fire” (CBC News)
• “Feds start Ring of Fire environmental assessment” (Northern Ontario Business)
• “Feds order regional impact assessment for Ring of Fire” (TBNewsWatch.com)
• “Regional Assessment of the Ring of Fire Area” (Impact Assessment Agency of Canada)
• “Osgoode environmental clinic to help federal government assess proposed mining in northern Ontario” (Law Times)

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  “The Government of Ontario, Marten Falls First Nation and Webequie First Nation are taking a major step forward in unlocking jobs and opportunity in Northern Ontario’s Ring of Fire region by entering into a historic agreement to advance the planning and development of a proposed Northern Road Link. Premier Doug Ford and Greg Rickford, Minister of Energy, Northern Development and Mines and Minister of Indigenous Affairs, were joined by Chief Bruce Achneepineskum of Marten Falls First Nation and Chief Cornelius Wabasse of Webequie First Nation at the Prospectors and Developers Association of Canada (PDAC) convention today for a signing ceremony …” (Government of Ontario)

• “North-western Ontario Coalition seeks support for Environmental Assessment of East-West route to the Ring of Fire” (Environmental Communication Options/Huff Strategy)

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  “Noront Resources Ltd. announced … that Mr. Gregory Honig, Director of Origination, Canada for Resource Capital Funds, has been appointed to Noront’s Board of Directors in place of Sybil Veenman who will be stepping down as RCF’s appointee on the Board …” (Noront news release)

• “Ring of Fire was ‘overhyped,’ but still ‘worth the effort’ says Noront Resources” (CBC News)

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  “Ottawa steps into ‘Ring of Fire’ debate with Doug Ford” (York Research Chair in Env. Law via theconversation.com)

• “Hasty development of Ontario’s Ring of Fire could have devastating impacts” (Wildlife Conservation Society Canada via Toronto Star)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – January 31, 2020

• “Conservatives Say Northern Ontario “Abandoned by Throne Speech” ” (netnewsledger.com)
• “Northern Ont. snubbed in throne speech: Tories” (Sudbury Star)
• Text, Speech from the Throne, 5 Dec 2019

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• “Batchewana First Nation voices opposition to proposed Noront ferrochrome smelter” (Northern Ontario Business)
• “City of Sault Ste. Marie will wait for an environmental study before deciding whether or not to back Noront’s ferrochrome smelter in Sault Ste. Marie. Batchewana First Nation, in a release dated Dec. 20, announced its opposition to the proposed site citing concerns for the well-being of area residents and the environment …” (Sault Star)
• “Noront Resources President and CEO Responds to Opposition to Ferrochrome Smelter in SSM” (Wawa-news.com)
• “Sault musician moved by retired steelworkers to pen ‘protest’ song” (SooToday.com)
• “Noront CEO Alan Coutts is cautiously optimistic about his company’s claims in the so-called ring of fire, saying its first mine could be operational as early as five years from now. Environmental assessments are currently underway on two road projects that would open up the valuable mineral claims to development …” (tbnewswatch.com)

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• “… (writer and mining watchdog) Joan (Kuyek) expressed extreme dismay at the money spent on the Ring of Fire. She said, “The federal and provincial governments have sunk over $57 million into a pipe-dream that isn’t feasible. The Ring of Fire is not likely to ever happen. However, people are getting rich over it.” As of 2016, the federal government spent $17 million and the Ontario government spent $40 million. “Money that could have gone to homes, healthcare, and other priorities,” declared Joan. Joan stated, “If a big mining company such as Glencore thought the Ring of Fire was viable, they would invest immediately. The CEO of Noront Resources makes over $600 thousand per year and for what?” Noront Resources is a junior mining company without sufficient financial resources …” (saultonline.com)

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• “Two senior leaders from Webequie First Nation said they are not opposed to development in the Ring of Fire but environmental stewardship and the well-being of their community very much remain their priorities …” (Northern Ontario Business)
• “Chiefs from two economically depressed communities near the Ring of Fire told Queen’s Park politicians they want to be “equitable partners” to share in the benefits of Far North development …” (Northern Ontario Business)

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• “… As for the Ring of Fire, (Ontario mines minister Greg) Rickford said there would be “no more regional brainwork” in the “not too distant future.” He added the province would be working with the communities in the region differently.  “We spent more than $20 million and sadly the Indigenous communities have not benefited from this and the leaders of those communities will tell you.”  The minister explained the government has done Indigenous communities and mining companies a “disservice” by being caught up in bureaucratic systems which have not benefited those proximal to the Ring of Fire.  When it comes to the region, Rickford said he would argue the larger economic prospect is tied to the infrastructure that supports it, meaning the government would be taking “an entirely different approach” and “building a corridor to prosperity so the communities in that region … will have roads not just to the North to any developments that occur but also to the South.  “The government of Ontario does not build mines. It’s the companies that build mines. Our job is to support infrastructure, and we are very close to developing full partnerships with the Indigenous communities.” …” (northernnews.ca)

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• “Ring of Fire’s chromite cache remains stranded as Canada, U.S. mull ‘strategic mineral security’ plan” (The Post Millennial)
• “Column: Stalled Ring of Fire worth more than $117 billion” (Sudbury Star)
• “Ontario’s Ring of Fire: Many Hurdles Yet to Be Overcome” (The Epoch Times)

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• “… Bakhtiar Moazzami, a professor of economics and econometrics at Lakehead University … “On the positive side, development of the Ring of Fire, which is expected to happen in the next five to 10 years, will generate a significant number of jobs and will continue to be a source of stimulation to Northern Ontario’s economy. Indigenous residents of the area will be able to participate in the development and initial phase of the operation, which will consist of open-pit operations; however, to receive long-term benefits, we need to enable our workforce to perform tasks that require a higher level of expertise and education.”  Moazzami says many tradespeople in Northern Ontario are reaching the age of retirement, which means workers at the Ring of Fire will need to be imported from elsewhere. While Indigenous communities are poised to benefit, Moazzami says without more education, they will not reap the benefits for long.  “The Ring of Fire will increase demand for skills well above the regional supply as most tradespeople are close to retirement in northern regions. Thus, many migrant workers will be employed at the site,” he says.  “The northern Indigenous population will be the primary beneficiary of jobs in the initial stages of development. However, given the relatively low levels of educational achievement among the northern Indigenous workforce, the prospect of benefiting from later stages of development is slim.” …” (Sudbury Star)

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• “Court sides with environmental groups in ongoing De Beers lawsuit … “Our client’s case against De Beers presents a critical opportunity to set a precedent for how the province regulates mines in Ontario’s so-called ‘Ring of Fire.’ We look forward to proceeding with this prosecution.” …” (Timmins Daily Press)

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• “Noront Resources Announces Issuance of Interest Shares” (Noront news release)
• “Noront Announces Debt Extension and Royalty Sale and Provides Additional Updates” (Noront news release)
• “KWG to Issue Ferrochrome Warrants” (KWG news release)
• “Resource Capital Fund V L.P. Announces Amendments to Convertible Loan with Noront Resources Ltd.” (Resource Capital Fund news release)

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Filed under: Uncategorized, Alan Coutts, Bakhtiar Moazzami, Batchewana, Eabametoong, Greg Rickford, Joan Kuyek, KWG Resources, Noront Resources, Sault Ste. Marie, Webequie

#RingOfFire (#RoF) News – December 6, 2019

• “Rallies in twin Saults protest plans for ferrochrome plant” (Northern Ontario Business) – “Pollution concerns drive Noront opponents” (Sault Star)
• Letter to the editor:  “… If Noront wanted to feel welcomed in Sault Ste Marie, they’d surely have brought the obligatory gift dictated by social etiquette and offered the host a sign of appreciation. Instead they’re offering us the jobs they’re going to find essential to their business’s success… which will be of far greater value to the company than to the city or the employees themselves. Noront’s proposing to make a lot of money locating a potentially dangerous ferrochrome smelter on our doorstep, operating it using our resources, and exploiting our labour force to do the work. And they’re expecting something further from us to sweeten the pot – such as incentives to make coming here worth their while?!? …” (Sault Star)
• “Noront Resources Ltd. … has arranged a $2.5 million non-brokered private placement. It said proceeds with be used for exploration and development of the company’s Eagle’s Nest Project and chromite deposits in the Ring of Fire mineral district in northern Ontario …” (resourceworld.com) – Company news release
• Near the Ring … “Sudbury’s Northern Superior Resources has taken back full control of its high-grade TPK gold-silver-copper property in the Far North.  Yamana Gold, the strategic mining partner brought aboard in 2018, has decided not to continue on with an option agreement with the junior miner. Northern Superior is now looking for a new partner … The TPK (Ti-Pa-Haa-Kaa-Ning) property is 50 kilometres west of the Ring of Fire and 150 kilometres east of Newmont Goldcorp’s Musselwhite Mine …” (Northern Ontario Business)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – November 22, 2019

• Globe & Mail:  “The Ontario government appealed to Ottawa this summer to split a $1.6-billion construction bill for roads into the Ring of Fire region, despite mounting evidence the minerals project in the province’s North isn’t economically viable.  Documents reviewed by The Globe and Mail show that Greg Rickford, Ontario’s Minister of Energy, Northern Development and Mines, sent an e-mail in July to a number of federal ministers asking for Ottawa to kick in as much as $779-million to roughly match Ontario’s contribution.  As part of his business case for investing in the Ring of Fire, Mr. Rickford referenced a number of often-cited huge financial projections about the project that have no supporting evidence …”
• “Noront considers building small-scale ferrochrome pilot plant in Sudbury” (sudbury.com) – ctvnews.ca
• “On both sides of the river, resistance mounts over planned smelting plant … The new plant will be located on the Algoma Steel property located just across the river (in Sault Ste. Marie, Ontario), pending a land agreement with the steelmaker. However, some citizens on the American side are not happy regarding the decision. Local barista and LSSU student Tomantha Sylvester is one of two leaders of a Sault, Michigan-based protest group …” (sooeveningnews.com)
• “Noront CEO Alan Coutts wants you to be confident” (notes, interview with Noront CEO Alan Coutts via wawa-news.com)
• “Noront Resources Ltd. has closed a non-brokered private placement for gross proceeds of $2.06 million from the issuance of flow-through shares and units.  The Company issued 7,900,000 FT Shares at a price of C$0.25 per FT Share for gross proceeds of $1,975,000 and 425,000 Units at a price of C$0.20 per Unit for gross proceeds of $85,000 … Net proceeds from the private placement will be used for the exploration and development of the Company’s Eagle’s Nest Project and chromite deposits located in the Ring of Fire metals camp in Ontario and for general working capital purposes …” (company news release)
• “Noront Resources Ltd. is announcing that it has entered into a seventh amending agreement dated October 31, 2019 with its largest shareholder, Resource Capital Fund V L.P., to extend the term of its existing US$15 million (CAN $19.9 million) convertible debenture …” (company news release)
• Ontario Liberal Party leadership contender wants more attention paid to Ring of Fire:  “The Ford government continues to fail Sudbury and Northern Ontario, a leading candidate for the Ontario Liberal leadership says.  Steven Del Duca made the comments (earlier this month) as the provincial government presented its 2019 Ontario Economic Outlook and Fiscal Review … “I think it’s been more than a decade since (former) Premier McGuinty first talked about unlocking the Ring of Fire; we have to get on with it,” Del Duca said. “But we have to do it in a way that’s meaningful, where the partnerships are real and genuine, where the funding is at the table and the shovel gets in the ground, and we unlock that potential.” …” (thesudburystar.com)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – October 28, 2019

• “The road to nowhere: Claims Ontario’s Ring of Fire is worth $60-billion are nonsense … The Ontario government has repeatedly played up the prospects for the region with breathless assertions about the supposedly stratospheric value of minerals in the ground, and an apparent bonanza of jobs and economic benefits that lie in wait for locals … There’s only one problem with all these grand pronouncements about this crescent-shaped mineral discovery about 550 kilometres northeast of Thunder Bay: It’s mostly aspirational hogwash …” (Globe & Mail)
• “Ring of Fire development plans spurred by Ontario’s outrageous energy prices — Conventional processing techniques would have demanded a 300-megawatt smelter — roughly the same amount of energy required to power city of 300,000 people …” (financialpost.com)

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• “Noront Resources Ltd. announced agreements with Algoma Steel Inc. and Hatch Ltd. … to facilitate development of the Ring of Fire mineral district and the associated Ontario-based processing facilities.  “Noront is partnering with two Ontario-based industrial and engineering giants to advance Ring of Fire development,” said Alan Coutts, President and CEO of Noront Resources.  “This is truly a ‘made in Ontario’ collaboration on one of the most economically and socially important projects our province has seen.”   The agreement with Algoma provides Noront with a 5-year, renewable option to lease a brownfield property in Sault Ste. Marie for a period of 99 years. Noront plans to design, construct and operate a ferrochrome production facility which will service the company’s Ring of Fire chromite deposits. This agreement provides Noront and Algoma with an opportunity to re-purpose an existing brownfield location with a view to sharing infrastructure …” (company news release)
• “Noront Resources Ltd. has received approval from the TSX Venture Exchange and has issued Algoma Steel Inc. 750,000 common shares of the Company and 750,000 warrants to purchase common share pursuant to the term sheet signed between the Company and Algoma as announced on September 20, 2019.  The term sheet gives the Company a 5-year option to enter into a 99-year ground lease agreement on a parcel of land owned by Algoma, west of its steel mill.  It is Noront’s intent to design, permit, construct and operate a Ferrochrome Production Facility on the property …” (company news release)

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• “First Nation takes the lead on Ring of Fire supply road — Webequie First Nation hosts Thunder Bay open house to kick off EA process …” (Northern Ontario Business)

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• “Ring of Fire developer faces tide of opposition to Sault ferrochrome plant” (Northern Ontario Business)
• “Residents raise concern about health, environment at Noront open house” (saultstar.com)
• “Majority not in favour of new smelter” (ctvnews.ca)
• “Saultites Oppose Ferrochrome Plant, Voice Concerns at Public Forum” (saultonline.com)
• “Noront officials grilled on proposed Soo smelter” (ctvnews.ca)
• “‘It’s a nightmare’: Sault residents protest ferrochrome smelter” (sudbury.com)
• “Anti-ferrochrome smelter protest hits Clergue Park and Bay Street” (sootoday.com)
• “Sault Tribe opposes ferrochrome processing facility — Michigan tribe doesn’t want Noront’s smelter ‘anywhere near the Great Lakes or our traditional homelands’ …” (sootoday.com)
• “National business leader blasts ferrochrome approval process — Perrin Beatty, Canadian Chamber of Commerce president-CEO, addresses regulatory concerns during Sault appearance …” (Northern Ontario Business)
• “A Sault-based non-profit dedicated to environmental sustainability is questioning whether a true, comprehensive, environmental assessment will ever be conducted for the ferrochrome processing facility proposed by NorOnt Resources Ltd. on land currently owned by Algoma Steel …” (sootoday.com)
• “Physicians may leave if ferrochrome facility comes to the Sault, letter threatens” (sootoday.com) – “Open Letter From Doctors On Ferrochrome Smelter” (saultonline.com)
• “… A petition titled ‘Say No to Ferrochrome Production in Sault Ste. Marie’ has gathered over 8,500 signatures since it was posted six months ago, having reached 8,000 supporters three days ago.  Now, the City of Sault Ste. Marie and its economic development corporation are addressing those concerns saying nothing has been finalized and that community consultations will be taken into account …” (ctvnews.ca) – Online petition (via change.org)
• “The City of Sault Ste. Marie (City) and Sault Ste. Marie Economic Development Corporation (SSMEDC) would like to address some of the concerns and misinformation regarding the proposed ferrochrome production facility project (FPF) by Noront Resources Ltd. The City/SSMEDC are providing the public with this background information as a means of offering clarity …” (saultonline.com)
• “Noront ferrochrome plant definitely not a sure thing, city clarifies” (sootoday.com)
• “Noront still committed to Sault ferrochrome plant” (Northern Ontario Business)
• “Noront’s commitment to Sault hasn’t wavered after consultation with ‘sometimes-hostile’ citizens” (sudbury.com)

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• “Timmins feels door still open for ferrochrome plant — Mayor George Pirie convinced the smelter will eventually be located in Timmins …” (timminspress.com)
• “… Timmins did not get to be the site of the Noront Resources ferrochrome smelter, as announced a few months back.  Still, the (Timmins Economic Development Corporation) is monitoring it, believin there will be opportunities related to it.  (Corporation chair Fred) Gibbons bases that belief on Timmins’ status as a mining service centre …” (mytimminsnow.com)
• “… When asked if the plans for the proposed ferrochrome smelter to be built in Sault Ste. Marie for the Ring of Fire are finalized or if there is still a chance it could be built in Timmins, (Noront CEO Alan) Coutts said it’s “too early to speculate on that.” …” (ctvnews.ca)

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• “Noront Announces Non-Brokered Private Placement Of Up To C$2.5 Million … The net proceeds from the sale of Units will be for the exploration and development of the Company’s Eagle’s Nest Project and chromite deposits located in the Ring of Fire metals camp in Ontario and for general working capital purposes …” (company news release)
• “Exploration Update for Noront McFaulds No.8 VMS Discovery … Next steps include establishing a maiden 43-101 compliant mineral resource for McFaulds No.8 and evaluating further targets on the property, including the application of additional ground gravity surveys in 2019. Noront’s vision for the McFaulds property is to establish adequate copper-zinc resources through a collection of high-grade VMS deposits to support a central milling complex …” (company news release)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – September 12, 2019

• On the Marten Falls Community Access Road Project, from the Impact Assessment Agency of Canada: “ The Impact Assessment Agency of Canada is inviting the public and Indigenous groups to review the summary of the initial project description and provide feedback by October 1, 2019 related to the proposed project. Comments received will be used to prepare the summary of issues …”
• Company follow up
• ”Noront Issues Shares to Marten Falls and Aroland First Nations, Extends Warrants and Issues Interest Shares” (Noront news release)
• More on Ontario changing its approach …
• ”Ontario rips up Ring of Fire deal with First Nations to pursue bilateral talks on road project” (The Canadian Press)
• ”Ontario to work with First Nations to unlock Ring of Fire” (The Northern Miner)
• ”Pitting communities against each other won’t work in the Ring of Fire – (ON NDP leader) Horwath” (TBNewsWatch.com)
• ”Province starts over on Ring of Fire consultation process” (Northern Ontario Business)
• ‘” ‘True partnerships’ forming along Ring of Fire route” (My North Bay Now)
• MPP Vic Fedeli on the RoF:
• Commentary (1): “… Sooner or later, someone has to pull the plug on a hopeless process. That successive Ontario governments have done just that, and either entered into agreements with willing partners or helped them to deal directly with mining companies anxious to include them in the spoils, suggests it is the right approach …”
• Commentary (2):  “… the Ontario government tore up an agreement with the nine First Nations in Northern Ontario in the so-called “Ring of Fire” mineral area … The Ontario government now will practice the time-honoured colonial practice of divide and conquer, cutting individual deals to get its way. The reason, according to a government spokesperson, is to develop at “speed of business.”  This is the same approach taken by the Bolsanaro government in Brazil couched in more diplomatic language rather than the ham-handed approach in Brazil …”
  
• ”Globe editorial Why it’s time to cool the hype about the Ring of Fire” (The Globe and Mail)
• ”The Tories are dissolving the Ring of Fire agreement. So what comes next” (TVO)
• Watching the numbers
• ”Noront Resources Ltd. (TSXVNOT) vs. RedHill Biopharma Ltd. (TASERDHL) VC Score Comparison” (9 Sept 2019)
  
• ”Noront Resources Ltd. (TSXVNOT), Obsidian Energy Ltd. (TSXOBE) Analysis & Yield Review” (8 Sept 2019)
• ”Share Focus Watching the Indicators on Noront Resources Ltd (NOSOF)” (8 Sept 2019)
• ”Noront Resources Ltd (NOT.V) AroonUp Technicals Showing Momentum Building” (8 Sept 2019)
• ”Earnings & Quant Signal Review for Noront Resources Ltd. (TSXVNOT), Obsidian Energy Ltd. (TSXOBE)” (8 Sept 2019)
• ”KWG Resources (CNSXKWG) Shares Down 50%” (8 Sept 2019)
• ”What Are the Technicals Implying For KWG Resources Inc (KWG.CN)” (8 Sept 2019)
• ”KWG Resources (CNSXKWG) Shares Down 50%” (7 Sept 2019)
• ”KWG Resources Inc (KWG.CN) PPO Reading Below the Signal Line on This Stock” (7 Sept 2019)
• ”What’s Transpiring With Shares of Noront Resources Ltd. (TSXVNOT), Obsidian Energy Ltd. (TSXOBE)” (7 Sept 2019)
• ”KWG Resources (CNSXKWG) Trading 100% Higher” (5 Sept 2019)
• ”Should Noront Resources Ltd. (TSXVNOT), Nemaura Medical Inc. (NasdaqCMNMRD) Shares Be on Watch ROE & Quant in Focus” (5 Sept 2019)
• ”Stock To Watch – Noront Resources Ltd, (TSX (Venture) – NOT)” (4 Sept 2019)
• ”What is the Magic Formula Telling Investors on Noront Resources Ltd. (TSXV-NOT), NAOS Small Cap Opportunities Company Limited” (4 Sept 2019)
• ”Are the Signals Negative For Noront Resources Ltd (NOT.V) Twiggs Reading Under the Lens” (2 Sept 2019)
• ”What is the Stochastic Momentum Reading Portraying For Kwg Resources Inc (KWGBF)” (1 Sept 2019)
• ”Kwg Resources Inc (KWGBF) Runs 42.86% To the Upside Past Month” (29 Aug 2019)
• ”Is Noront Resources Ltd (NOT.V) Headed For a Near-Term Reversal” (29 Aug 2019)
• ”Encouraging, But Also Convincing Noront Resources Ltd, (TSX (Venture) NOT)” (27 Aug 2019)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – August 27, 2019

• Ontario walks away from framework agreement, goes for one-on-one deals …
• This from The Canadian Press:  “Ontario is ripping up an agreement with First Nations on building road access to the Ring of Fire region in favour of pursuing individual deals with the nine communities, saying the move will speed up development of the mining project.  Greg Rickford, the minister in charge of the file, announced Tuesday that the new approach will mean the government can address specific community needs and opportunities with First Nation communities …” – more from CBC.ca & TBNewswatch
• This, from a statement attributed to Ontario’s mines’ minister, Greg Rickford:  “Ontario’s government is working for the people by ending delays that prevent development in the Ring of Fire area – one of the most promising mineral development opportunities in over a century with the potential to sustain up to 5,500 jobs annually across Ontario within the first 10 years of development.  “Despite over a decade of talk and more than $20 million invested, real progress on the Ring of Fire has been met with delay after delay. That’s why Ontario is taking a new, pragmatic approach to unlocking the Ring of Fire’s potential, one that includes working directly with willing First Nation partners who want to move at the speed of business, to ensure sustainable development … By working toward bilateral agreements with First Nation partners on Ring of Fire development, the Province will also help address unique community needs and opportunities when it comes to developing the Ring of Fire …”
• From a joint Noront-Marten Falls First Nation statement:  “Noront Resources and Marten Falls First Nation are pleased to jointly support today’s announcement regarding development in the Ring of Fire, made by Minister of Energy, Northern Development and Mines, and Minister of Indigenous Affairs, Greg Rickford.  Since the discovery of the Ring of Fire, we have worked collaboratively toward development of the region. We are encouraged by the Ontario government’s support and commitment to develop, on an expedited basis, the Ring of Fire mineral deposits and associated infrastructure which will be shared between community and industrial use … Together, Noront and Marten Falls will continue to engage the additional First Nations communities that are committed to developing the Ring of Fire and its associated infrastructure …”

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  In other #RoF news … “Ontario’s Minister of Energy, Northern Development and Mines Greg Rickford was in Sault Ste. Marie on Tuesday to discuss updates on the Ring of Fire project … Rickford, along with Sault MPP Ross Romano and Noront Resources president and CEO Alan Coutts, held a press conference at Algoma Steel, where Coutts announced that Noront has signed memorandums of understanding with First Nations communities in the Ring of Fire area and is also in talks with Algoma Steel on the terms of the company’s tenancy for the construction and operation of the planned FPF which would be located adjacent to the steelmaking operation on Algoma Steel property …” (saultonline.com)

• From the same news conference:  “Noront discussing tenancy fees with Algoma Steel for ferrochrome facility … Coutts said “Noront is in discussions with Algoma Steel on the terms of our company’s tenancy for the construction and operation of our planned FPF which would be located here, adjacent to the steelmaking operation. The signing of the agreement would result in Algoma receiving an equity position in the Noront project,” Coutts said, that statement receiving a round of applause from Algoma Steel officials in attendance.  “There’ll be a fee for Noront’s tenancy on our property and it’s a way for us to dollarize, eventually, the value of some of the land we have which is excess land, if you like. It’s good news for Algoma Steel,” said Michael McQuade, Algoma Steel CEO …” (sootoday.com)

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  Speaking of Noront … “Noront Resources Ltd (NOT.V)’s Stochastic Momentum Index is diving lower and has passed the key level of -40, indicating possible oversold territory.  The SMI indicator was developed by William Blau ad presented in Technical Analysis of Stocks & Commodities magazine in 1993, ten years after the original stochastic was invented.  The oscillator fluctuates between -100 and 100, and as such the indicator can be readily used to identify overbought and oversold levels …” (valliantnews.com, 27 Aug 2019)

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  Remember those billboards attributed to an ad agency with the same address as KWG Resources in Toronto?  “Anti-immigrant ads on billboards across Canada are being taken down after a public outcry and multiple petitions against them, the company that owns the billboards said.  The ads were launched in support of Maxime Bernier, leader of the small right-wing anti-immigration People’s Party of Canada, and called for a halt on mass immigration to Canada. They started appearing in several Canadian cities last week and were bought by True North Strong and Free Advertising Corp (TNSFAC) …” (Reuters, via nationnews.com) – more from the National Observer
  

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Filed under: Uncategorized, Alan Coutts, Algoma Steel, Greg Rickford, KWG Resources, Marten Falls, Noront Resources

#RingOfFire (#RoF) News – August 25, 2019

• “Feds seeking comments on north-south Ring of Fire road — The federal government is inviting public comments on the proposed first leg of a permanent north-south access road to the Ring of Fire. Posted on the Canadian Environmental Assessment Agency’s (CEAA) website as the Marten Falls First Nation Community Access Road, the public and Indigenous groups have until Aug. 29 to provide feedback on the road’s potential environmental impacts …” (Northern Ontario Business)
• “Marten Falls Community Access Road Project” (Canadian Environmental Assessment Agency posting)

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• “Ferrochrome plant holds promise of well-paying jobs for Sault Ste. Marie — The average wage at the Noront Resources ferrochrome processing facility in Sault Ste. Marie will be $108,000, Stephen Flewelling, the company’s chief development officer told a Sault audience …” (Northern Ontario Business)
• “Ferrochrome plant will pay employees well, Noront says” (Sault Star)

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• “Feds want your two cents on Ring of Fire road” (Northern Ontario Business)
• “Public Notice – Public Comments Invited on a Summary of the Project Description” (Canadian Environmental Agency posting)
• Webequie Supply Road page

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• “East-West Ring of Fire Road Coalition on their way to Ottawa (18-21 Aug) to advance their case for Environmental Assessment designation” (The East-West Coalition news release)

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• “Noront Resources Ltd (NOT.V): Zooming in on the Technicals” (7 Aug 2019)
• “Noront Resources (CVE:NOT) Trading Down 2.2%” (3 Aug 2019)
• “Near-Term Bullish Signal Identified For Noront Resources Ltd (NOT.V) Shares” (30 Jul 2019)
• “Investor Watch: Looking at the F Score on Shares of Noront Resources Ltd (NOT.V)” (28 Jul 2019)
• “KWG Resources (CNSX:KWG) Hits New 12-Month Low at $0.01” (24 Jul 2019)
• “Noront Resources Ltd (NOSOF)’s Mass Index Volatility Reading Reaches Pivot” (22 Jul 2019)
• “Introducing Noront Resources (CVE:NOT), The Stock That Slid 57% In The Last Five Years” (18 Jul 2019)
• “KWG Resources (CNSX:KWG) Sets New 12-Month Low at $0.01” (17 Jul 2019)

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  “N.S. premier, MP take aim at billboards telling Canadians to ‘say no to mass immigration’ … The group behind the billboard, True North Strong and Free Advertising Corporation, is run by a Toronto mining executive named Frank Smeenk. The group is registered as a third party with Elections Canada. According to documents filed with Elections Canada, Smeenk’s group spent $59,890 to run billboards in Canadian cities between Aug. 19 and Sept. 16 …” – TRUE NORTH STRONG & FREE ADVERTISING CORP. (Elections Canada Third-Party Information document, PDF)

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Filed under: Uncategorized

#RingOfFire (#RoF) News – July 3, 2019

• “The first ore from the Ring of Fire could come out of the ground in five years, potentially finally unlocking the mineral-rich area that has long been promised to stoke Northern Ontario economic development opportunities. Noront Resources, which owns 85 per cent of the mining claims in the James Bay lowlands area, is working toward the completion of the permitting and approval process, which would be followed by the construction of a road and the first mine to tap into the lucrative deposits. Speaking at the Nishnawbe Aski Development Fund’s annual Aboriginal Forum … company president and chief executive officer Alan Coutts said the goal is to have their Eagle’s Nest nickel, copper and platinum-group mine operational by 2024. One of the biggest steps to development is building a road to access the proposed mines, with two possible routes …” (sudbury.com)
• “KWG Resources Inc. is pleased to announce closing on June 17, 2019 of another tranche of its private placement (the “Private Placement”) of convertible debentures. This tranche was comprised of an aggregate of $100,000 of debentures. The debentures are convertible, at the option of KWG at any time or at the option of the holder within 30 days prior to maturity or redemption, into units (each a “Unit”) with a deemed value of $21 per Unit. The subscriber received an option to acquire an equal amount of additional debentures at any time within four (4) months from closing …” (KWG news release)
• “Sault Ste. Marie (Liberal) MP Terry Sheehan says the federal government is working hard to ensure that businesses of all sizes have the tools they need to be successful … The federal government is also committed to seeing development at the Ring of Fire, Sheehan said. The province has to commit to its part, something Sheehan said it may find difficulty doing as a result of the province’s fiscal tightening.” (saultstar.com)
• “Infrastructure in Ontario’s far north more at risk due to more frequent, intense wildfires, experts say … While the boreal forest needs fire to survive and rejuvinate, Johnston said too much of it can, not only change the type of vegetation that grows back, but also make it far more difficult to protect important infrastructure, especially if more of it gets built into remote areas, such as roads, power lines and industry connected to the Ring of Fire …” (cbc.ca)
• “Sault Ste. Marie’s location on the Great Lakes was instrumental in snagging a Ring of Fire ferrochrome processing plant. Now the municipality is going back to government funders to see if once-promised money for a port study is still on the table …” (northernontariobusiness.com)

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• “KWG Resources (CNSX:KWG) Sets New 12-Month Low at $0.01” (29 June 2019)
• “Noront Resources (CVE:NOT) Trading Down 2.1%” (20 June 2019)
• “Noront Resources (CVE:NOT) Shares Down 2.1%” (19 June 2019)
• “KWG Resources (CNSX:KWG) Hits New 52-Week Low at $0.01” (14 June 2019)

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Filed under: Uncategorized