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#RingOfFire (#RoF) News – May 12, 2016

  • New VP Exploration, more fundraising for Noront “Noront Resources Ltd. is pleased to announce the addition of Ryan Weston, P. Geo, to its senior management team in the role of Vice President, Exploration.  Ryan has a broad background in base and precious metal exploration and has filled numerous senior roles, most recently as Chief Geologist for Carlisle Goldfields and as Senior Geologist for Cliffs Natural Resources working on the Ring of Fire chromite properties.  Ryan has an Honours degree in Geology from the University of Toronto, a Master’s degree in Economic Geology from Laurentian University and is a Queen’s MBA graduate.  The Company also announced today, the closing of a private placement of 1,162,500 flow-through shares at a price of $0.40 per flow-through share for gross proceeds of $465,000. The Company intends to use the proceeds for its exploration program in the Ring of Fire …” –  Weston’s LinkedIn profile
  • Some analyst up-and-down on Noront’s stock … “Could Noront Resources Ltd See a Reversal After This Very Weak Session?” (2 May) – “Time to Buy Noront Resources Ltd After Today’s Huge Increase?” (5 May) – “Is Selling Stock Like Noront Resources Ltd After Such Decline Winning Strategy?” (11 May)
  • Op-ed: Chinese more likely to build rail link to Ring of Fire … Ontario has a great provincial railway. It should have been instructed long ago to plan for a rail link to the Ring of Fire.  A highway through rough country, including a lot of muskeg, will never be able to carry the very large and heavy mining and processing equipment used by modern mining companies. It will have a hard time standing up to the tons of ore or concentrates that must be transported out of the Ring of Fire. Only a railway can do it.  It is also a commentary on the Toronto Stock Exchange which apparently cannot promote a railway to a great national resource.  Canada must now rely upon foreign powers to open up its frontiers and bring development to its North. It is no cause for celebration.”
  • More from Premier Wynne during a visit to Thunder Bay earlier this month“Ontario and federal cabinet ministers keep in touch regularly on important projects including the Ring of Fire, claims Kathleen Wynne … She made it clear that communication with Prime Minister Justin Trudeau and his cabinet is much better than under the former Conservative government.  “Unlike the previous government, we actually have regular conversations between ministers about these files,” Wynne said.  “The Ring of Fire project is about opening up an area of the North that is ripe for economic development, but it is also about opening up communities. The Matawa First Nations have been partners in this. We have a framework agreement in which we are working. I have made it clear that we need to work with all of the communities involved.” …”
  • … and from Matawa negotiator Bob Rae during a speech in Timmins “… Just before Rae took the podium Kenora Mayor David Canfield had remarked that the future of Ontario is Northern Ontario.  Rae said he agreed with that statement, adding that that it applies not merely to Northern Ontario, but to all of Northern Canada.  “I think it is really important that when we think of the North, we think of all the people who live in the North,” Rae told the conference.  “We have a particular need to understand that this part of Canada, this part of Ontario is the traditional home of people who have lived in this part of the world for thousands of years, since time immemorial,” said Rae.  He said the sense of frustration can still be heard in Northern Ontario from those who suggest that First Nations consultation is just the latest in a series of frustrations and setbacks to development.  “If we had the same kinds of rules and laws and regulations back in the late 19th century and early 20th century, Sudbury would never have been built and Timmins would never “ have been developed,” Rae said he had been told recently.  “My response was to say well, certainly they would not have been developed in the same way. The existence of the natural resource would inevitably mean that something would happen. Development would take place. It would take longer. We might have polluted less. Fewer people would have died. That’s for sure,” said Rae.  At the same time he said, it would have been done without marginalizing the First Nations. Rae said he wasn’t pointing fingers or placing blame …”

 

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