- Remember all the hints about some level of Chinese interest in the Rof here, here, here, here and here? Finally, a firm nibble …. “A Chinese railway design firm will examine the engineering data related to KWG Resources’ proposed Ring of Fire transportation corridor, creating the potential for a future collaboration between the two parties. KWG and China Railway First Survey & Design Institute Group Co., Ltd. (FSDI) have signed a confidentiality and non-disclosure agreement, which includes a three-year standstill provision, that will give China Railway access to KWG’s engineering data. “The parties intend to explore the possibility of a negotiated transaction between them for FSDI to undertake a feasibility study for KWG on all aspects of the construction of a Ring of Fire transportation corridor and railroad, including terms for construction financing facilities,” reads a Nov. 24 statement from KWG. The Chinese company will present its findings “as soon as possible,” according to the statement, “in preparation for discussions in early 2016.” KWG has retained a third party, Golden Share Mining Corp. (GSH) as its representative and advocate in China. GSH will receive a finder’s fee if the collaboration goes forward ….” – more from media here, here and here, more about FSDI here (caveat: that link looks like it hasn’t been updated in ~10 years, so reader beware) and here
- Remember all that court action over the mining claims along the proposed route of the proposed railway line to the RoF? The litigation grind continues …. “A three judge panel of the Ontario Court of Appeal has reserved its decision following arguments presented today by Noront Resources Ltd. and the Attorney General of Ontario to the appeal of KWG Resources Inc. subsidiary Canada Chrome Corporation. The Court of Appeal had previously on January 27, 2015 issued an Order granting leave to appeal the decision of the Divisional Court of the Ontario Superior Court of Justice released July 30, 2014. As reported on August 1, 2014, the Divisional Court decision ruled that CCC’s consent should be waived in an application for an easement to build a road over its mining claims ….”
- Noront raising a few bucks “Noront Resources Ltd. (Tuesday) announced the closing of a private placement of 4,824,218 flow-through common shares at a price of $0.50 per flow-through common share for gross proceeds of $2,412,109. The common shares are subject to a statutory hold period of four months plus one day which will expire on March 25, 2016 ….”
- A documentary look at First Nations’ take on the RoF “A new documentary on the Ring of Fire aims to open people’s eyes to the First Nation perspective on the mining project. The film tells the stories of people who live in First Nation communities near the resource development site. Director and producer Paul Rickard spent months living and interviewing people in the communities. “After our first week I was in those communities, they would say, ‘Are you still here?’ I said, ‘Yeah. What do you mean?’ ‘Well, when most people come in, they fly in the morning and leave on the afternoon flight’,” he told CBC News. “So, it’s the first time they actually had anyone interested in media to actually spend time with them.” ….”
- Not ZACKLY RoF, but north of there, anyway …. “An exploration team from De Beers Canada was expected to be in northern Ontario’s remote Weenusk First Nation …. to seek community support to conduct diamond exploration work. Weenusk First Nation, or Peawanuck, is a small community of nearly 400 people, 1,400 km north of Toronto, on the shores of the Winisk River. The Cree community is divided on whether or not they support mining in their ecologically sensitive and undisturbed traditional lands. The people of Peawanuck have only one store and the local school goes to Grade 8. Many live off the land, fishing and hunting caribou. They are concerned about the consequences of mining development ….”
Filed under: Uncategorized
- The chromite tax thing again? “Nipissing MPP Vic Fedeli presented evidence in the Ontario Legislature (5 Nov 2015) that the Wynne Liberal government is considering a chromite tax. “I ask the minister, did the Liberal government ever propose a chromite royalty? Is that why Cliffs left Ontario?” Fedeli asked during Question Period. Cliffs, an American Natural Resources Company, suspended the project in 2013 after numerous delays and difficult discussions with the province and the First Nations communities. After the Northern Development and Mines Minister refused to provide a direct answer to that question, Fedeli confronted him with documents released during the Gas Plant Scandal which show such a tax is indeed on the table ….” – more on this here and here
- More digs from Ontario’s NDP “…. Last year, mining giant Cliffs, who spent $550 million in the Ring of Fire, said they can no longer do business with this Liberal government and sold their claims at a massive loss to Noront for $20 Million. They said they had zero hope and that every investment dollar spent here was a disaster. Noront Resources is one of the few remaining mining companies operating in the Ring of Fire. According to inside sources, the Ontario mining company is expected to halt spending by the end of year, causing enormous job losses if the Liberal government doesn’t make progress with infrastructure and First Nations agreements. This liberal government has had eight years and failed to come up with a plan that will create good jobs, build infrastructure, reduce the high price of electricity and work with First Nations. They have done nothing. I will continue to demand that this government support resource development in the north, working with communities, First Nations and industry to create good jobs.”
- Editorial: “Open the north; get on with it — Ontario has just completed the fourth Northern Leaders Dialogue. Provincial, municipal and indigenous leaders gathered in Thunder Bay to discuss issues around development and transportation, part of the province’s growth plan for Northern Ontario. The advent of exploration around the rich Ring of Fire mineral belt has added urgency to the notion of opening the North. Yet there remains much indecision on whether transportation should be rail or road, east-west or north-south. Who should pay what share of the cost? While Ontario spins its wheels, what are neighbouring provinces and other jurisdictions doing? ….” – more on the Leaders Dialogue here, here and here
- At least one Liberal MP “gets” access to the North (not just for industry, either) “…. (Kenora MP Bob) Nault, who was a railway union negotiator before his career in federal politics, said an all-weather access road into Ontario’s remote north is a no-brainer, noting that most provinces, including Quebec, Manitoba, Saskatchewan and Alberta, have one. Without a road, “two thirds of my riding remains isolated,” he said. Nault, who spent nearly five years as an Indian Affairs minister, said that in his view previous First Nation leaders were not as open to the concept of an access road which, he said, “should not just be about providing access for mining companies.” ….”
- More reaction to that Finanical Post article “Northern Development Minister Michael Gravelle came under fire in the provincial legislature Thursday for inaction at the Ring of Fire, with the NDP charging that the Liberals are on track to kill a $60-billion mining project. The questioning followed a report earlier this week from the Financial Post that Noront Resources Ltd. warned the province that it will stop work unless they can show some progress has been made on First Nations agreements and infrastructure for the remote mining development. The company has spent millions on the Eagle’s Nest project in the Ring of Fire but work and spending could stop by end of December if progress isn’t made ….”
- An analyst’s take on some Noront numbers this week “The stock of Noront Resources Ltd is a huge mover today! The stock decreased 3.16% or $0.015 on November 16, hitting $0.46. About 214,822 shares traded hands or 64.29% up from the average. Noront Resources Ltd has risen 6.00% since October 18, 2015 and is uptrending. It has outperformed by 8.54% the S&P500. he move comes after 8 months negative chart setup for the $108.91M company. It was reported on Nov, 17 by Barchart.com. We have $0.40 PT which if reached, will make Noront worth $15.25 million less ….”
Filed under: Uncategorized
This from Michael Gravelle, from an exchange in Ontario’s Legislature yesterday, during Question Period:
“…. Noront Resources made it very clear that they remain committed to the project, and we’re working very closely with them. In fact, they announced that they are moving forward on an exploration project within the Ring of Fire area themselves.
As a government, we remain absolutely committed to the project. We have our commitment of $1 billion for the transportation infrastructure corridor locked in, thanks to the Minister of Finance. We are looking forward to an opportunity to have a discussion with the new federal government to engage in the process that was not very successful in the past with the previous government.
We are engaged in a regional framework discussion with Matawa First Nations, and we have set up a development corporation to move that forward. So we are indeed making very positive progress ….”
More back-and-forth here and here – Ring of Fire Q’s & A’s collected here (via Dropbox.com).
Filed under: Uncategorized, Michael Gravelle, Noront Resources
- First, some industry news ….
- “The dominant company in Ontario’s “Ring of Fire” mineral belt is threatening to suspend its work, sources say, putting a big question mark over future development plans in the region. Noront Resources Ltd. has warned both the Ontario government and First Nations communities in recent days that it will stop working unless it can demonstrate some tangible progress to investors, according to sources. The company and its key lender, Resource Capital Funds, are increasingly frustrated with a lack of movement on government infrastructure commitments, First Nations agreements and other matters. The longer these issues drag on, the harder it will be for Noront to raise new capital ….”
- “Nipissing MPP Vic Fedeli is concerned the possible work stoppage in the Ring of Fire could impact North Bay mining supply businesses. Fedeli’s fears came after the Financial Post reported Noront Resources Ltd. warned the Ontario government and First Nations communities that it will stop work unless it can show some progress to its investors ….”
- “Noront is not threatening to walk away from the Ring of Fire its CEO says. The Financial Post ran a story with anonymous sources Tuesday saying the company has threatened to walk away from its Eagle’s Nest project if it doesn’t see progress from the province and First Nations soon. Alan Coutts said that same day the company announced a new exploration program in the area with nearby First Nations as participants. “We don’t have any plans to shut down operations,” he said. “I don’t want to get into speculative stuff but we’re active.” It’s a weak market out there, especially for a junior company like Nortont but Coutts said they’ve been finding the money they need and that’s happened because they’ve shown progress. “There’s activity, there’s alignment and there’s progress in the Ring of Fire,” he said. Obviously the company would like to see firmer plans from the province on infrastructure for the project but Coutts said there are current discussions on those issues. Commitments were hard to come by from the federal government but now that the Liberals are in power, he sees more alignment between them and the province ….”
- “Even as it starts a new exploration program in the Ring of Fire this week, the mineral belt’s lone main player admits it’s never been tougher to secure the funds for such projects. “I don’t want to sound gloom-and-doom, but it is a tough market out there and investors want to see progress,” Noront Resources CEO Alan Coutts said Wednesday. Noront has earmarked $600,000 to resume exploration in the area of its existing proposed Eagle Nest nickel mine about 500 kilometres northeast of Thunder Bay. Though metal prices, including nickel, are down, Coutts said the Toronto-based company remains committed to getting its mine up and running about four years from now. It’s expected to cost $700 million to build the mine. “We’re in a trough right now, but we know these things are cyclical and we want to be ready to go into production (when prices rebound),” he said. Coutts was asked to respond to a National Post story which cited an unnamed source who suggested Noront might pull out of the Ring of Fire — as did former main player Cliffs Natural Resources — if the project stalls. Coutts wouldn’t comment directly on the story, but acknowledged the company has been urging the province to make good on an earlier commitment to spend $1 billion on key RoF infrastructure, including roads and hydro ….”
- In other news, the newest PM doesn’t seem to have named a lead Ring of Fire minister yet, but here’s a few of the new key players in Cabinet for the RoF:
- James Carr, Minister of Natural Resources (the lead portfolio under the Conservatives);
- Navdeep Singh Bains, Minister of Innovation, Science and Economic Development (also Fednor Minister);
- Catherine McKenna, Minister of the Environment & Climate Change (for environmental stuff);
- Amarjeet Sohi, Minister of Infrastructure & Communities (to deal with that still-outstanding infrastructure question hanging out there);
- Carolyn Bennett, Minister of Indigenous and Northern Affairs (to deal with First Nations in the RoF area); and
- Jane Philpott, Minister of Health (to help deal with at least some First Nation concerns about the potential social & health effects/needs linked to developing the RoF area).
Filed under: Uncategorized, Alan Coutts, Amarjeet Sohi, Carolyn Bennett, Catherine McKenna, James Carr, Jane Philpott, Navdeep Singh Bains, Noront Resources, Resource Capital Funds, Vic Fedeli
- “Noront Resources Ltd. …. announced that it has started an exploration program close to its Eagle’s Nest Mine in the Ring of Fire. Following a thorough review of its exploration data, the company is initiating this program to test high priority targets within three kilometres of Eagle’s Nest. The program will initially use ground geophysics and if warranted follow up drilling will be conducted. The company will employ community members from local First Nations during the course of the exploration activities. This builds on the productive relationships that Noront has established with its community partners ….”
- “KWG, Bold & Fancamp Extend Koper Lake Option — The parties to the Black Horse chromite deposit are reviewing the opportunities available to them to collaborate in its development in order to lead further investment into the Ring of Fire. The mining claims known as the Koper Lake Project, containing the Black Horse chromite deposit are held by Fancamp Exploration Ltd. subject to an option agreement in favour of Bold Ventures Inc. . Bold, in turn, has given KWG Resources Inc. the right to earn up to an 80% operating interest under its option in the chromite resources and up to a 20% operating interest in all “other metals” while Bold will earn, upon KWG fulfilling the terms of the option agreement, up to a 20% carried interest in the chromite resources and up to an 80% operating interest in all “other metals” within the claims ….”
- “BMO Capital Markets restated their outperform rating on shares of Anglo Pacific Group plc in a research note issued to investors (on 16 Oct 2015), MarketBeat Ratings reports. BMO Capital Markets currently has a GBX 150 ($2.32) price target on the stock. Other equities research analysts also recently issued reports about the company …. Anglo Pacific Group PLC (LON:APF) is a United Kingdom-based firm focused on royalties connected with all the mining of natural resources …. The Company has six producing royalties, including Kestrel, El Valle and Carles Project, Maracas, Four Mile Uranium Project, Amapa Iron Ore Mine and Tucano. Salamanca, Uranium, Spain is included by its development royalties. Its Early-phase royalties comprise Dugbe 1 Gold Endeavor, Railway Deposit (Pilbara), Ring of Fire Chromite Projects and Isua Iron Ore Project ….”
- Remember this conference last week on the RoF @ Lakehead University’s law school? Here’s a bit of one panelist’s views from the get together …. “…. honouring Treaty Eight would slow down oil sands extraction, reduce the country’s overall net greenhouse gas emissions and encourage investments in renewable energy development and a green economy. Win-win-win? If so, then shouldn’t we honour Treaty Nine as we contemplate developing the Ring of Fire? ….”
- Speaking of Treaties, extraction and First Nations …. “Treaties signed in Canada since the 1970s have greatly benefited First Nations and mining companies, as they have boosted the average annual income of such communities and lead to greater development of natural resources, a new study (PDF) released (28 Oct 2015) shows. According to the report by independent, not-for-profit research firm C.D. Howe Institute, modern treaties implemented between 1991 and 2006 in rural British Columbia, the Northwest Territories and Yukon had measurable benefits for both, First Nations and mining companies alike ….” – more here
- Sooooo, whazzup with the Matawa First Nations’ negotiator these days now that Team Red’s in Ottawa? “As Liberals across the country swigged champagne and gave triumphant speeches to screaming crowds, Bob Rae was hunkered down with the old-timers at a TV studio. Just like Brian Mulroney and Joe Clark, the ex-Liberal leader was spending Election Night as a pundit, filling the airtime between real news. “The last thing the leader wants is to have people going on television, campaigning for some job or other,” said Rae when asked if he might suddenly have a gig with any apparent Liberal government. “I don’t need a title and I don’t need a job, the leader knows that I’m on his team and I’m happy to help him in any way he wants.” Of course, it was the boilerplate statement of humility for an ex-politician who insiders agree is almost guaranteed a role in the new government he is widely credited in helping to create ….”
- Tea Leaf # 1 to be read (maybe): Rae’s right-hand man on the file, OKT partner Bryce Edwards, was at the L.U. conference instead of Rae himself representing Matawa communities.
- More post-election promise watching “Canada’s junior mining sector is waiting with bated breath to see if Justin Trudeau’s incoming Liberal government will maintain a tax credit that has helped companies raise billions for exploration. Miners argue that the 15-per-cent Mineral Exploration Tax Credit (METC) is an invaluable tool that encourages companies to work in Canada and helps keep the sector active during commodity downturns, including the current one. But there are detractors in the academic community who say it is just another inefficient benefit that favours one industry over another. During the federal election campaign, the Liberals were the one major party that did not form a strong position on the METC, which is set to expire in March. The Conservatives said they would extend the credit for three years, and increase it to 25 per cent for remote projects, like Northern Ontario’s “Ring of Fire.” The NDP mused about making the METC permanent ….”
- Not strictly RoF, but dealing with consultation, litigation & mining …. “Next week, closing arguments will be heard in a lawsuit that highlights the Ontario provincial government’s slowness in developing clear approaches to the duty to consult Aboriginal communities and in offering any clarity to those attempting to operate in the Canadian resource sector. The decision to be rendered has widespread implications. The case has parallels to the situation of other resource companies, and it highlights the significant dangers in governments trying to muddle through the interaction between Indigenous rights and resource development without making clear decisions and enacting clear legal frameworks. Future prosperity for Aboriginal and non-Aboriginal communities alike will be affected by what happens with these sorts of lawsuits. Some background helps make clearer what is at stake. The lawsuit sees Northern Superior Resources, a junior exploration company, suing the province for over a hundred million dollars. The suit arises from the province’s failure to take steps on the duty to consult while suggesting — without any legal framework for it at the time — that the company had to deal with consultation ….” – you can follow the Northern Superior Resources litigation via company updates here
Filed under: Uncategorized
- In case you missed it, Team Red won the federal election. Here’s all there was clearly said about the Ring of Fire that I could find: “…. (Timmins-James Bay Liberal candidate Todd) Lever said …. A Liberal government would also match the provincial funding for the infrastructure needed to make the Ring of Fire development a reality ….” – full Liberal platform here (PDF)
- Good question …. “What is Liberal plan for Northern Ontario? …. When the Liberals released their national platform earlier this month, Foulds and Rafferty quickly noted it bore not a single reference to Northern Ontario, the Ring of Fire or FedNor. In August, Trudeau released “plans for sustainable growth across Northern Ontario” promising to “create sustainable economic growth for the middle class, generate economic opportunities in Sudbury and Sault Ste. Marie (no mention of Thunder Bay or the Northwest) and create the clean jobs of tomorrow.” The rest was chapter and verse from the national platform with Sudbury and the Soo tossed in twice more for localized consumption ….”
- Lakehead University political scientist: Wait & see if feds provide Ring of Fire money “…. despite Trudeau and Ontario Premier Kathleen Wynne working together on the campaign trail, it’s no slam dunk the province will get the long-coveted matching funds to kick the Ring of Fire mining development into gear. “Do I think she’s going to get $1 billion for the Ring of Fire? I don’t think so,” (Dr. Laure) Paquette said. “If Mr. Trudeau was going to commit himself to that he would have said so when he was here for the blink and you missed it rally on Saturday.”
- In fact, there’s no specific mention of the Ring of Fire in the PM-elect’s and Premier’s joint statement issued after they met in Toronto this week: “….we met at Queen’s Park to discuss how the incoming Government of Canada and the Government of Ontario can work together on issues important to Canadians and Ontarians, including investing now to create economic growth and jobs. At the meeting, we discussed the importance of investing in infrastructure. Ontario is making the largest investment in public infrastructure in the history of the province, and the new federal government’s commitment to infrastructure investment means we will be able to work together to do more, faster. We reaffirmed our commitment to ongoing collaboration and co-operation on climate change, including plans for the upcoming COP21 meeting in Paris. We discussed our commitment to work with First Nations, Métis, and Inuit partners, and the incoming federal government’s pledge to call a national inquiry on missing and murdered Indigenous women and girls. In particular, we made progress on our mutual commitment to build greater retirement security for Ontarians and Canadians. The incoming federal government and the Government of Ontario will be active partners in the national discussion on pension enhancement, including the CPP and ORPP. In addition to working together on these and other issues, we look forward to a new and positive relationship between the new Government of Canada and the Government of Ontario — one based on mutual respect, common goals, and shared values, and one that is committed to making progress on the things that are important to the people we serve.”
- A reminder/poke from Ontario’s PC Leader in the Legislature “…. Patrick Brown, the Leader of the Official Opposition in Queen’s Park questioned Premier Wynne in the Legislature over the severe impact the fire sale of Hydro One will have on Northern Ontario. “The people of Northern Ontario stand to be some of the hardest hit by the Hydro One fire sale,” said PC Leader Patrick Brown. “The PC Caucus understands that the availability of affordable power is good public policy. With a publicly owned Hydro One, this government can’t abandon the people and businesses of Northern Ontario. But a privately owned Hydro One can.” Remote communities are powered by transmission lines which are generally considered to be non-profitable, typically they have been offset by profits Hydro One made in highly populated areas. There is a risk a private Hydro One will view Northern transmission lines as a poor return on investment. “The loss of majority control of Hydro One means the government loses the ability to expand transmission lines as a matter of good public policy,” added Leader Patrick Brown. “If a privately owned Hydro One feels that expanding transmission lines into the Ring of Fire is a bad decision for its investors, then they simply won’t build it.” ….”
- Even the Marxist-Leninists had a Ring of Fire position! “…. First, none of the cartel parties that are so eager to develop the Ring of Fire mention that chromium is a strategic materiel and that the development of the Ring of Fire serves the interests of the American war machine. Chromium is vital in producing stainless steels and superalloys which have significant military applications including armour and jet engines ….”
- A Ring of Fire conference is coming to Lakehead University’s law school this week. You can click here to register (free, but you have to register). A bit more detail here: “The Lakehead University Bora Laskin Faculty of Law will host a Ring of Fire conference on Friday, October 30 that will examine sustainable development, the duty to consult, and community impact. A Law professor, a Geology professor, and a law student will moderate the discussions. “This conference seeks to build upon the success of last year’s conference focusing on the future of Aboriginal law in Canada,” said Lakehead Law Professor Jason MacLean, who will be one of the moderators and presenters. “We will explore the three most urgent issues at the intersection of Indigenous rights, the environment, and the economy: the prospects for sustainable development; the meaning and local application of the duty to consult; and Indigenous community impacts,” MacLean said. Three expert panels comprised of representatives from Indigenous communities, government, industry, and academia will examine these issues ….”
- Meanwhile, in corporate news …. “Noront Resources Ltd. announces that payment of interest in the amount of $476,481, for the third quarter of 2015 pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. dated February 26, 2013 and the bridge loan facility entered into between Noront and RCF dated June 3,2015, has been satisfied by delivery of 1,387,135 common shares of the Company at an effective price of $0.3435 per Interest Share ….”
Filed under: Uncategorized
- Not new, but still worth keeping in mind “Aboriginal communities and their role in the future of the Ring of Fire was the focus of a presentation to business leaders in Timmins Thursday. Glen Nolan, a former chief of the Missanabie Cree First Nation and vice-president of aboriginal affairs for Noront Resources, was the guest speaker of a luncheon hosted by the Timmins Chamber of Commerce …. With the First Nations in the area holding a great deal of power over the future of the project, Nolan said it is vital that companies like Noront go about handling their relationship with these communities properly. “It’s not as simple as going into these territories and expecting the communities to open their doors. There has been many years of promises made by governments and by resource companies that have not been fulfilled,” said said Nolan to the chamber members. “Communities are, naturally, not sure that they can trust us. So we have to build that trust,” ….”
- Some digs at the NDP’s plan for northern Ontario “…. (Paul Lefebvre, Liberal candidate for Sudbury said) the Ring of Fire announcement amounts to a paltry $50 million a year over 20 years. That’s a long time to wait for progress on such an important project. In the meantime, the provincial Liberal government has committed $1 billion immediately and federal Liberal Leader Justin Trudeau has already made clear his government will also be a key funding partner.” ….” From another Liberal candidate: “…. A Liberal government would …. match the provincial funding for the infrastructure needed to make the Ring of Fire development a reality ….” – does that mean matching ALL provincial funds, or just the $1B? All at once?
- More RoF debate crosstalk in Sudbury “Before a raucous and vocal audience that nearly packed the room, (Nickel Belt) incumbent Claude Gravelle of the NDP took on Conservative Aino Laamanen, Green candidate Stuart McCall and Marc Serre of the Liberal party at Club 50. They discussed a range of topics, including climate change, the economy, party integrity, rail safety and the government’s relationship with First Nations communities. Talk quickly turned to mining and the stalled Ring of Fire development in northwestern Ontario. While Serre and Gravelle both agreed the project needs a jump-start, their opinions diverged on the how. “When you talk about the First Nations and the Ring of Fire, we have to move forward. We have to sit down (with First Nations communities), but that discussion has not happened,” Serre said, accusing northern MPs and MPPs, many of whom are New Democrats, of long-standing inaction. Gravelle contended an NDP government would develop the chromite deposits by injecting $1 billion into the project ….”
- Algoma-Manitoulin-Kapuskasing Tory candidate André Robichaud points to what’s already been done: “…. I will also ensure that we continue to make strategic and targeted investments in Northern Ontario. Some of our investments include: $1.5 million for the operations of Waubetek Business Development Corporation; $1.5 million to expand the small business centre in Wikwemikong First Nation; $500,000 to support the engineering and project management costs to develop a community-owned on-reserve wind farm in M’Chigeeng First Nation; $393,814 for the East-West Transportation Corridor Study in the Ring of Fire; $232,200 to undertake a regional economic development in fisheries, aquaculture, mining and tourism; and $71,051 for a Northeastern Ontario Aboriginal Mining Strategy ….” (P.S. – don’t forget this almost $8M also invested so far)
Filed under: Uncategorized
29 September 2015 • 19:08
The NDP’s Info-machine was good enough to share an electronic copy of the Northern Ontario platform document.
Here it is.
Thanks, NDP Central – looking forward to seeing it on the NDP web page sometime soon, too :)
Filed under: Uncategorized
29 September 2015 • 09:45
- “The Board of Directors of KWG Resources Inc. has granted options to purchase 40,714,000 shares under its Incentive Stock Option Plan. The options are exercisable for 5 years at $0.05 which is the minimum price permitted under the Company’s listing agreement with the Canadian Securities Exchange. Options to purchase 11,185,000 shares were granted to four Directors, options to purchase 5,389,000 shares were granted to a Director and Officer, options to purchase 7,840,000 shares were granted to two Officers, options to purchase 11,050,000 shares were granted to three employees, and options to purchase 5,250,000 shares were granted to eight consultants ….”
- Analysts calling one of the smaller RoF players “hot” right now “…. Shares of Franco-Nevada Corporation were up 1.61% versus prior close, having declined -11.03% this year. The Precious Metals & Minerals – NEC Company on August 10, 2015 stated second quarter 2015 financial results realizing 83,040 Gold Equivalent Ounces from its mineral assets and $10.3 million in revenue from its oil & gas assets. Net Income and Adjusted Net Income were $21.6 million , or $0.14 per share, and $22.9 million , or $0.15 per share, respectively, with Adjusted EBITDA being $82.2 million , or $0.53 per share …. On April 28, 2015 , Franco-Nevada attained royalty rights in the Ring of Fire mining district of Ontario by providing $28.5 million in loan and royalty financing to Noront Resources Ltd. ….”
- From the election campaign “The candidates running to represent Thunder Bay-Superior North in Ottawa agree there’s a lack of leadership when it comes to the Ring of Fire but disagree on who’s to blame ….”
- ” “An NDP government under Tom Mulcair will get the Northern Ontario economy moving again with a focus on investment in key sectors and making life better for northern families”, said Thunder Bay-Rainy River New Democrat candidate John Rafferty at the (northern Ontario) platform launch (Monday) …. With a plan geared specifically to Northern Ontario, an NDP government will …. Unlock the potential of the “Ring of Fire” deposits by investing $1 billion in strategic infrastructure over the next 20 years ….” – more here and here, but nothing as of this post on the NDP’s main web page. I’ve asked NDP’s Info-machine for an electronic copy of the northern Ontario platform – let’s see how long it takes to get it.
- Matawa’s #RoF advisor Bob Rae’s on the campaign trail helping out fellow Liberals
- Not based in the Ring of Fire specifically, but interesting nonetheless …. “Northern Superior Resources Inc. has completed preparations for its trial against the Ontario Government, set to begin October 5th 2015 …. The conflict with Aboriginal communities over land (which includes such well known disputes as Platinex, God’s Lake Resources and Solid Gold, all related to the situation NSR faced) continues to date. Along with the difficulties encountered by Ontario in the Ring of Fire today, this certainly suggest that some of these criticisms were valid: the so-called new Mining Act was a minimal improvement, at best, over the old one ….”
Filed under: Uncategorized
18 September 2015 • 09:26
Sorry about that Ukrainian war post – that’s for my OTHER blog ….
Filed under: Uncategorized