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#RingOfFire (#RoF) News – June 21, 2016

  • Northern mayors like Ring of Fire, east-west road in “Mayors from Northern Ontario’s five largest cities gathered in North Bay on June 15, to discuss a series of northern issues during their Northern Ontario Large Urban Mayors (NOLUM) meeting … “Another issue and one that has been on the radar for 6 years at least is the Ring of Fire. All Mayors recognize the substantial benefit to our communities if and when the Ring of Fire becomes operational. We support the East-West road so that Noront Resources can get production moving and get their Copper/Nickel to market,” stated (Thunder Bay Mayor Keith Hobbs). “Sudbury will benefit as the host for processing and we will all benefit from the value added business related. We want to see the Infrastructure built that will benefit our communities and First Nation communities” …” – more on the mayors’ position here and here.
  • One First Nation’s (Long Lake #58) #RoF update “… The Province of Ontario and the Matawa First Nations continue their dialogue following the signing of the Regional Framework Agreement related to the Ring of Fire.  Long Lake #58 First Nation (“LLFN”) continues to participate in the Ring of Fire on various levels to help advance the concept of achieving a long-term agreement between Ontario and Matawa to scope, permit, develop, approve and manage the mineral resources in the Ring of Fire.  Since the signing of the Regional Framework Agreement the Chief has been an active participant at the Chief’s Table that helps set the strategic direction for negotiations with Ontario … In addition, Chief and Council initiated a revenue sharing study that has two Phases:      Phase 1:  an indepth analysis of the revenue sharing market including examining government to government agreements, examining corporate information, looking at best practices in other jurisdictions and reviewing key indicators from the mining sector; and  Phase 2:  developing some revenue sharing models that will provide a basis for negotiating revenue sharing agreements with the Province of Ontario for mining initiatives …” – update also available here if link listed above doesn’t work
  • Ontario Cabinet Shuffle: Mike Gravelle remains mines minister, Bob Chiarelli now infrastructure minister and Kathryn McGarry now natural resources/forestry minister  – here’s the news release and backgrounder on the shuffle, and the official list of ministers, all updated.
  • Some analyst optimism about Noront stock (as of last week, anyway) “The stock of Noront Resources Ltd is a huge mover (as of 15 June)! The stock is down 3.23% or $0.01 after the news, hitting $0.3 per share. About 69,500 shares traded hands. Noront Resources Ltd has risen 6.00% since May 16, 2016 and is uptrending. It has outperformed by 7.14% the S&P500 …”
  • One analyst’s take on a recent court case “Score one for Ontario.  A mining strategist said the Ontario government won an impressive victory in its court case against a Sudbury exploration company that sued the province for breach of its duty to consult with a northwestern Ontario First Nation band.  Waterloo-based natural resources consultant Bill Gallagher considers the May 25 ruling in an Ontario Superior Court of Justice a landmark decision, not just for Ontario but across Canada.  “It is the most important ruling in terms of getting this country up and running in the mining sector on the duty to consult.”  He’s also called it an indirect legal win for First Nations even though they were not a party to the lawsuit …” – more from the same analyst on the Northern Resources decision here, and decision itself (Northern Superior Resources Inc. v. Ontario, 2016 ONSC 3161) here.

 

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One Response

  1. Mac Baren says:

    men·da·cious
    Many in media defamed Solid Gold and now know that the NSR judgment exposes the truth in the Solid Gold scandal and you all remain silent.

    First, they came for me –.
    Then they came for ???.

    Shameful

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