Ring of Fire News


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

#RingOfFire (#RoF) News – October 27, 2017

  • ”Ontario’s ‘Ring of Fire’ region gets $69.2 million broadband boost” (itworldcanada.com) – Toronto StarcomSooToday.comGovernment of Ontario news release: “Expanding Broadband Infrastructure in Remote Northern Ontario
  • Northern P.C. members expected to endorse Ring of Fire policy proposal — One of the policies Northern Ontario Progressive Conservative members will decide in online voting in early November deals with the Ring of Fire.  The northern policies that are approved make it to the provincial policy convention and will form the party’s platform for next June’s election.  Nipissing MPP Vic Fedeli says the goal with the Ring of Fire policy is to raise its level of importance …”
  • Romano visits Ring of Fire (5-15 Oct 2017) — As Sault MPP Ross Romano is headed to the far north to visit the Ring of Fire area and meet with First Nation communities, the Sault Ste. Marie Economic Development Corp. is keeping its line of communication open Noront Resources … His goals are to tour the area to get a full appreciation of the challenges the provincial government faces to develop the road and how to properly address the relationship with Indigenous communities …” – “Sault MPP Ross Romano said he got a hard life lesson during his two-week trip to First Nation communities in Ontario’s far north … So much so, he said, that he’s already drafting a private member’s bill that he hopes will enlighten Ontarians and provide future generations with a better understanding of how some First Nation communities live. That education also needs to include a better understanding of treaties and how they work and teach youth, at a younger age, to better appreciate relationships with Indigenous people …”
  • Noront raises $1.2 million through private placement” (Northern Ontario Business)Noront company news release
  • Shedding Some Light on the Quant Signals & Ratios For Noront Resources Ltd. — In trying to determine the current valuation of Noront Resources Ltd. shares, we note that the Book to Market ratio of the shares stands at -0.201305. It’s commonly accepted that a Book to Market ratio greater than one indicates that the shares might be undervalued. The book to market ratio has some limitations in certain industries however where intangible assets (such as knowledge) often are not represented on a balance sheet. The ratio is calculated by dividing the market price per share by book value per share …” (26 Oct 2017)
  • Scanning the Quant Signals For Noront Resources Ltd. — There are many different tools to determine whether a company is profitable or not. One of the most popular ratios is the “Return on Assets” (aka ROA). This score indicates how profitable a company is relative to its total assets. The Return on Assets for Noront Resources Ltd. is -0.496979. This number is calculated by dividing net income after tax by the company’s total assets …” (16 Oct 2017)
  • ”Technical Review on Shares of Kwg Resources Inc — Watching the technical levels for Kwg Resources Inc (KWGBF), we have spotted that the SuperTrend line is currently sitting above recent share price levels. According to the signal, this may point to the stock entering buy territory …” (25 Oct 2017)
  • Trading Lines: Percentage Price Oscillator Histogram Over Zero for Kwg Resources Inc — Traders might be scanning the indicators on shares of Kwg Resources Inc (KWGBF). We have recently noticed that the PPOH level is currently above zero. With the PPOH above zero, traders may be alerted that the stock is in buy territory …” (24 Oct 2017)
  • Timmins could sweeten the pot to encourage businesses to head north — The City of Timmins is looking to make itself enticing to businesses thinking about heading north. City councillors want staff to draw up a proposal that could see tax rebates and grant money offered to companies that choose Timmins for a new home … The mayor wants to see what the city can offer, in the hopes of attracting major, much sought after operations; like the Ring of Fire smelter …”
  • ‘Shocking’: Canada’s caribou decline as Ontario stumbles on recovery efforts” — Ontario once led the way in boreal caribou recovery planning, but now the province has failed alongside most other jurisdictions to develop critical range protection plans by a deadline laid out five years ago. The science is clear that further habitat protection is needed, but the provinces and territories are “all very behind,” said Justina Ray, the president and senior scientist of the Wildlife Conservation Society … Moving forward, Ray wants the province to integrate range protection plans into forest management planning, undertake regular population monitoring and develop a specific strategy for the Ring of Fire area in Northern Ontario — particularly the new road.  “We know the pathway to solving this problem,” she said …”
  • Golden Share Announces Appointment of Principal Advisor, Provides Updates and Grants Options — Golden Share Resources Corporation is pleased to welcome Mr. William S. (Steve) Vaughan to join Golden Share as its Principle Advisor. Mr. Vaughan was the recipient of PDAC’s Distinguished Service Award in 2002 and was named a Distinguished Lecturer by the Canadian Institute of Mining and Metallurgy for 2002/2003. Mr. Vaughan is an inductee of Canadian Mining Hall of Fame in 2017 … Golden Share’s participation of potential rail road to the Ring of Fire region located in northwestern Ontario provides tremendous potential for the Company. Golden Share also continues to advance an exciting opportunity related to vanadium based energy storage solutions …”
  • Canadian Mining Hall of Fame welcomes four new inductees for 2018 … One of the founding members of CMHF, Ed Thompson was also a leader in bringing the Prospectors and Developers of Canada (PDAC) global respect and recognition. According to the CMHF official press release, he has showed his diversity of skills by contributing to numerous aspects to the Canadian mining industry such as exploration, mine development, company building, and supporting industry causes and associations. In his career, Thompson contributed to the growth of Teck Resources and Lacana Mining (now part of Barrick Gold). He also made discoveries in Ontario’s “Ring of Fire” and developed an iron ore mine in Quebec that Cliffs Canada bought in 2011 for 4.9 billion dollars. In addition, Thompson has served on the boards of 50 junior companies.”

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#RingOfFire (#RoF) News – October 4, 2017

  • Liberals fight back over Tory claim no progress on Ring of Fire –A Tory MPP says the Ring of Fire was discovered 10 years ago and he’s blasting the Liberals for making virtually no progress to develop the site. Norm Miller of Parry Sound-Muskoka says in 2014 the Liberals committed $1 billion dollars on infrastructure for the site.   But Miller says that’s all the Liberals have done … David Zimmer, the Minister for Indigenous Relations and Reconciliation, says progress has been made and cites a joint government transportation corridor study as proof.   He says the study, worth nearly $800,000 links several First Nations in the Ring of Fire region …”
  • Wanted at MNDM: Ring of Fire Intern  “… As part of the Ring of Fire Aboriginal Community and Stakeholder Relations team, bring your knowledge of Indigenous culture, project management and research skills, and apply your communication skills by  providing project planning and implementation in support of the ministry’s Indigenous initiatives; engaging with Indigenous communities and other ministries and clients; tracking project activities, including reviewing and monitoring project progress, key deliverables, timelines and budgets; assisting in the development of workshops and preparation of presentations, work plans, briefings and reports; conducting research and analysis for program initiatives and participating in the development of standards, processes and performance measures; participating in various committees and working groups …” Job posting + job description (PDF)
  • KWG raising some funds … “Convertible Debenture Placement Completed – KWG Resources has completed the private placement of a $500,000 debenture convertible into units with a deemed value of $21 per unit, plus an Option to acquire a further such debenture at any time within 120 days …”
  • … while Noront provides an update …Noront Provides Drill Program Update on McFaulds Property in Ring of Fire … The three-hole program—totaling 1,387 metres—was completed in early September. The most notable results were from drill hole MCF-17-88 which intersected 18 metres of anomalous copper-zinc mineralization, including 9.0 metres grading 2.0% copper, 3.6% zinc and 7.8 grams per tonne silver from 557.3 to 566.3 metres down hole. This intersection is located northeast and approximately 175 metres into the footwall of the McFaulds No.3 deposit (see Figure 1 for location) and is believed to represent a new volcanogenic massive sulphide (VMS) mineralized horizon (not intersected in historic drilling) which has been named McFaulds No.8 … Crews are being organized for a follow-up drill program at McFaulds No.8. In addition, geophysical contractors will conduct a more extensive bore-hole EM program in the vicinity of known VMS occurrences with the aim of identifying additional untested conductors at depth …”
  • … and continues to draw analyst attention Are the Quant Signals Leaning a Certain Way on Noront Resources Ltd.? (27 Sept 2017)
  • Noront Resources Ltd. Valuation Score Card Under Review” (28 Sept 2017)
  • Noront Resources Ltd: Tracking the Technicals” (28 Sept 2017)
  • Quick Glance at Noront Resources Ltd. Shares” (1 Oct 2017)
  • When Will Noront Resources Ltd (TSXV:NOT) Need To Raise More Money?” (4 Oct 2017)
  • Elsewhere in the Ring … Copper Lake Resources Ltd.: Provides Corporate Update … The recent announcement by the Ontario government concerning funding for the Ring of Fire serves to increase our confidence in the Norton Lake property, which is in the southern Ring of Fire. The proposed all-season access road to the mineral-rich region will follow a north-south alignment from around Pickle Lake, which will bring the road very close to our Norton Lake property. Environmental assessments are expected to begin by January 2018 and construction of the road is planned to begin in 2019, pending all necessary approvals. This will significantly add to the value of the Norton Lake property, which has a 43-101 resource estimate of 2,258,654 tonnes (measured and indicated) at 0.67% Ni, 0.61% Cu, 0.03% Co and 0.46 g/t Pd. The mineral resource was calculated using a 0.3% Ni cut-off …”

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