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What's up with the biggest thing happening in mining in NW Ontario?

#RingOfFire (#RoF) News – May 26, 2017

  • Stand by for Ontario’s Ring of Fire plan? “ “Very soon.”  That’s the best answer Ontario premier Kathleen Wynne gave while commenting on when Ontario might see some progress on the Ring of Fire mining development, located in the James Bay Lowlands.  Wynne made the comment in Timmins Thursday morning (23 May 2017) where she was speaking at the Timmins Family YMCA and meeting with community leaders …” – more on her tour o’ Northern Ontario here, here and here
  • #RoF mention in a “let’s get resource projects going” (the other being the Trans Mountain pipeline) editorial “It is in the best interest of Canada and all Canadians that this country get its act together and get its natural resources to market more quicklyBut don’t take our word for it …  Earlier this month, a clearly impatient Premier Wynne told First Nations communities in Northern Ontario she’s ready to abandon joint talks with them over building roads into the mineral-rich Ring of Fire region.  Her government, she stated in no uncertain terms, is committed to opening the area to mining very soon … both Wynne and Notley realize getting these natural resource projects up and running would not only create jobs and strengthen the economy, it would help fund the government services we all need.  That’s why Wynne told the chiefs of nine Matawa First Nations in Northern Ontario she will tolerate no more delays in her plan to build a road — with $1 billion in provincial funding — into the Ring of Fire region.  That’s a tough but timely message …”
  • A quick update/pitch from Ontario’s former Ring of Fire boss “The Ontario government’s goals of fostering a culture of innovation and enhancing relationships with Indigenous people and communities are key to its mineral development strategy, including development of the Ring of Fire in Northern Ontario, Christine Kaszycki said on Thursday.  Kaszycki, the assistant deputy minister for the Ministry of Northern Development and Mines mines and minerals division, also spoke about opportunities for the Sudbury region during a Greater Sudbury Chamber of Commerce luncheon at the Copper Cliff Italian Club …”
  • Timmins wants a ferrochrome smelter, continued … “When it was recently revealed that Timmins was back on the “shortlist” as the site of a possible refinery for the Ring of Fire nickel and chromite deposit, city officials wasting no time getting to work on a new plan. It was just last week that Noront Resources CEO Alan Coutts revealed that Thunder Bay, Sault Ste. Marie, Sudbury and Timmins were all being considered for the location of a new smelter. Noront is the mining company with the largest land holdings in the huge mineral prospect located some 600 kilometres northwest of Timmins at McFaulds Lake … Timmins Mayor Steve Black confirmed that the city is preparing a proposal.  “We have been having discussions. This is something that obviously all of Northern Ontario has been watching and following very closely and every time we go to one of these mining events where we have the opportunity to meet Mr. Coutts and his team, we continue to emphasize that Timmins is the place where this facility should be,” Black told The Daily Press …”
  • … while a Sault Ste. Marie pundit pipes in, too“… The CEO of NORONT (Alan Coutts) was recently in the Soo,  and in an interview with CBC radio implied,  (more than implied actually) that SSM has an edge over the other competing communities to have the plant built here. Among the most important criteria to be factored in are the fact that we are located on the American border and on the Great Lakes ; one of the their goals is to ship the finished product through the Great Lakes  to American companies. Another reason is that we already have a diverse and skilled workforce (familiar with steel making and it’s offshoot processes)  that is open and desperate to cooperate.  Through meeting local officials he was impressed with the fact that we would welcome the investment in our community and work with his company to bring the project to pass …”
  • … as well as candidates for the provincial seat in the Soo as well “… Much of the discussion centered around the development of the Ring of Fire and the chromite smelter that Noront Resources is considering building in one of four northern Ontario cities, including the Sault …”
  • One analyst’s take on Noront about a week ago: “Interested investors have been looking for information on shares of NORONT RESOURCES LTD after the stock moved $-0.006, hitting the $0.186 price point in a recent tradeIt’s the latest price, but let’s analyze how the stock has been doing recently. In the past year, NORONT RESOURCES LTD’s stock was big mover. According to the short interest report published recently, (NOSOF) had 26,600 shorted shares for 0.4 days to cover. The prior short interest was 6,800 for a $291.18 change. The 52-Week High and Low are noted here. -52.31 % (High), 16.25 %, (Low). The stock had 62,600 average volume …”
  • And as of Wednesday of this week? “Noront Resources Ltd shares are moving today on volatility 5.56% or $0.015 from the open. The TSXV listed company saw a recent bid of $0.285 and 68000 shares have traded hands in the session …”
  • Another analyst’s take on how Noront’s doing “Investors considering positions in Noront Resources Ltd., might be interested in the Gross Margin Score of the company. The shares currently have a score of 64.00000. This score is derived from the Gross Margin (Marx) stability and growth over the previous eight years. The Gross Margin score lands on a scale from 1 to 100 where a score of 1 would be considered positive, and a score of 100 would be seen as negative.  The low score of 64.00000 for Noront Resources Ltd. indicates a top score for stability and growth …”
  • More from the authors of this study on how to get things going in the Ring of Fire “Premier Kathleen Wynne has jumped into the long-standing debate over the Ring of Fire in Northern Ontario. Last week, she called on northern chiefs to seize the province’s offer to spend $1 billion on crucial road development and to not “squander” the opportunity for economic development in an area desperate for work and social improvements. The premier’s blunt intervention is a sign of the pent-up frustration among governments, companies and indigenous communities about the slow progress and endless negotiations surrounding the region’s vast deposits of chromite, nickel and other minerals …”

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