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#RingOfFire (#RoF) News – November 27, 2015

  • 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 ….”

 

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