Ring of Fire News

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#RingOfFire (#RoF) News – October 28, 2016

  • Some blunt-ish talk from KWG’s VP KWG Resources vice-president Moe Lavigne warned a gathering of Indigenous community leaders and mining industry members that until there is money behind them, the proposed mines that make up the Ring of Fire development will only ever exist on paper“Until this proposed development is funded, it’s not a project; it’s just a study of an opportunity. There are plenty of people out there that think this is an actual project — it’s not — it’s an opportunity,” said Lavigne.  The KWG executive was speaking at the sixth-annual Nishnawbe Aski Development Fund Mining Summit held in Timmins (last) week.  He continued to say the federal and provincial governments are being prevented from fully backing the projects by their voter bases which “want this part of Canada to be a park, or museum, and don’t want to see anything happening here.”  With neither government willing to go against the political pressure he believes is holding them back, Lavigne argued the only realistic way to get the Ring of Fire mines off the ground is through China.  “The people who understand this opportunity the best is China. They get the whole picture, they want to get their hands on some of our chromium, and they are willing to put their money on the table to make it happen,” he argued …”
  • Speaking of China, a mention/reminder here: “… KWG Resources has appointed Canarail to provide specialised professional services and data for the Ring of Fire railway feasibility study to be undertaken by China Railway First Survey & Design Institute Group …”
  • A bit of optimism for Noront stock on Thursday “The stock of Noront Resources Ltd is a huge mover today! The stock last traded at $0.26 per share. It is down 6.00% since September 27, 2016 and is uptrending. It has outperformed by 0.92% the S&P500.  The move comes after 8 months negative chart setup for the $80.29M company. It was reported on Oct, 27 by Barchart.com. We have $0.23 PT which if reached, will make CVE:NOT worth $8.03M less …”
  • I don’t know if a couple of questions and a bit of back & forth rates being called “centre stage”, but #RoF WAS mentioned in the Legislature this week. “The Ring of Fire took centre stage at Queen’s Park Wednesday.  In what became a heated debate at the provincial legislature, the opposition leader demanded answers about the Wynne Government’s seeming lack of progress on the Ring of Fire project.  This accusation of a lack of progress comes despite the billion-dollar pledge made by the governing Liberals in its 2015 and 2016 budgets …” – you can read the transcript of the exchange via the Ontario Legislature page here, or in PDF (2 pages) format here.

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

  • “Ring of Fire on agenda at NADF mining summit” in Timmins earlier this week – more on the Summit here
  • Another overview piece based on an interview with Noront’s President/CEO in The Northern Miner here “The greenstone belt that hosts the nickel-copper-platinum group metal (PGM) and chromite deposits in northern Ontario’s Ring of Fire camp, 540 km northeast of Thunder Bay, is unique compared to other regions in Canada, says Noront Resources’ (TSXV: NOT) President and CEO Alan Coutts.  “In our case we have a typical, greenstone belt, but we also have this very large, layered ultramafic intrusion complex and iron formations abutting it. So it had all the right things going on to create the diversity of deposits we see there today,” he tells The Northern Miner during a phone interview …”
  • More from CBC Radio’s Jeff Walters’ recent visit to the Ring The one company in the Ring of Fire still doing active exploration said it has already made a positive impact on neighbouring Indigenous communities.  Noront Resources has set a target of having over half of its staff comprised of Indigenous employees. So far, the company has met the target.  “Even at an early stage, where we are today in terms of exploration, we want the communities to realize some of those benefits through jobs, through training,” said Ryan Weston, the VP of Exploration with Noront Resources. “So that in a longer term scenario, they will ultimately be believers in the benefits, the positive benefits that a mine would create here in the Ring of Fire.”  Although the camp itself has few staff at the moment, half of the workforce is comprised of Indigenous workers …” 
  • TD economist Dina Ignjatovic‘s take on the Ring of Fire from a Toronto conference earlier this month: “… When asked about mining in Ontario and the Ring of Fire, Ignjatovic said it could be beneficial to the economy in the future. The Ring of Fire, located 500 kilometres northeast of Thunder Bay, Ont. has a mineral potential said to be worth $60 billion and includes the largest deposit of chromite ever discovered in North America.  “I think we’re a long way out from having mass production right now but in the future, if it does get developed, it could be a boost to the Ontario economy and for Canada. Right now I think it’s too much in the early stages.” …”
  • A quick hit on one of those OTHER Ring of Fire companies … “Recently stock market broker analysts have updated their ratings and price targets on shares of Anglo Pacific Group. The latest broker reports which are currently outstanding on Friday 21st of October note 4 analysts have a rating of “strong buy”, 0 analysts “buy”, 0 analysts “neutral”, 0 analysts “sell” and 0 analysts “strong sell” … Anglo Pacific Group PLC is a United Kingdom-based company, which focuses on royalties connected with the mining of natural resources … The Company’s early-stage royalties include Pilbara, Ring of Fire and Dugbe 1 …”
  • Not specifically Ring of Fire, but worth knowing about politically  A government bill introduced at Queen’s Park this week proposes a number of changes to Ontario’s electoral rules, and at least one aspect of it has the support of the New Democrat MPP for the Kenora, Ont. area.  One part of the Election Statute Law Amendment Act proposes a commission to advise on the creation of up to two additional ridings in the province’s far north in order to improve representation for First Nations.  “There are 70 communities in Kenora-Rainy River and one member to meet with all of those mayors-in-council and chiefs-in-council,” said Kenora-Rainy River MPP Sarah Campbell, adding that having at least one other voice in the legislature would help.  “We certainly look forward to some changes that would improve communities’ access to the political process.”  Currently, the geographically large Kenora-Rainy River and Timmins-James Bay ridings encompass the entire far north, as well as a number of urban areas across northwestern and northeastern Ontario.  The proposed Far North Electoral Boundaries Commission could recommend changing one or both of those ridings …” – a bit more from Ontario’s information machine here (news release) and here (backgrounder – including information on the make up of the team considering the riding boundary changes – any bets that the “current or former judge of an Ontario court” for chair might be this guy?).

 

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#RingOfFire (#RoF) News – October 17, 2016


 

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


 

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