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#RingOfFire (#RoF) News – August 9, 2016

  • Hope continues to spring eternal … Noront expects Ring of Fire road funding announcement soon — With a funding announcement for a permanent Ring of Fire road expected shortly, Toronto-based Noront Resources is enlarging its land package in the James Bay camp and is devising a multiple mine development plan … “
  • … as Ontario’s Premier fans out across the north “Premier Kathleen Wynne will visit schools, hospitals, businesses, Indigenous communities and other groups across Northern Ontario from August 6 to 12 to listen to local ideas and highlight how the government is supporting economic growth and job creation in the North …”
  • More on the Noront front “Noront buys ‘small, but strategic’ Ring of Fire claim — Mining company Noront has made what it’s calling a small, but strategic, acquisition in the Ring of Fire.  Noront bought out the majority of MacDonald Mines properties in the James Bay Lowlands mineral deposit.  The company says it now controls 75 per cent of the staked claims in the region.  The government is studying a plan for a road to the proposed mine and First Nations in the area …”Canadian Mining JournalNoront company statementMacDonald Mines company statement
  • One analyst’s take from last week … “What’s Noront Resources Ltd Downside After Today’s (3 Aug) Huge Decline?”
  • … and today  “The stock of Noront Resources Ltd gapped up by $0.03 today and has $1.25 target or 191.00% above today’s $0.43 share price …”
  • Meanwhile, KWG draws the eye a bit – on YouTube, anyway “You know how sometimes you see something and it leaves you scratching your head, so you go back (in the case of a video you found on the Internet, let’s say) and watch it again, just to make sure you weren’t hallucinating?  com came across just that sort of thing …  Junior miner KWG Resources is selling the Ring of Fire deposit in northwestern Ontario, of which it has several claims in the still-undeveloped chromite hotspot, using girls in bikinis. Yes, girls in bikinis selling a mining development …”here’s the video in question from KWG’s YouTube channel, as well as more from Resource Clips , Canadian Mining Journal and some discussion over at an Agoracom online forum
  • In other, less controversial KWG news … KWG Files Notice of Sale From Control of Debut Diamonds –KWG Resources Inc. has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market …”
  • Not strictly #RoF, but of note, some analysis from TVO’s Steve Paikin about his read of the mood in bits of northern Ontario: “… one does wonder whether northern Ontario is going through its own version of America’s Tea Party, or Trumpism, or the United Kingdom’s Brexit. Too many people have lost faith in the established institutions and simply want something else. Premier Wynne will be heading to Kenora soon, where she’ll find some of her citizens who want to join Manitoba. They already live and play in Manitoba’s time zone, are so much closer to Winnipeg than Toronto, and feel ever so distant from Ontario’s decision-makers. And others in the north want to separate from the rest of Ontario altogether, creating their own province. Ironically, with the price of what’s in the ground fetching not nearly the high prices they once did, many observers would say this is a particularly foolish time, economically speaking, for the north to separate. But as we saw with the Brexit debate and are seeing with Donald Trump’s ascendancy, these decisions are often not made for logical reasons. They’re emotional. They’re experienced at a gut level …”

 

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One Response

  1. […] #RingOfFire (#RoF) News – August 9, 2016 […]

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