- Globe & Mail: “The Ontario government appealed to Ottawa this summer to split a $1.6-billion construction bill for roads into the Ring of Fire region, despite mounting evidence the minerals project in the province’s North isn’t economically viable. Documents reviewed by The Globe and Mail show that Greg Rickford, Ontario’s Minister of Energy, Northern Development and Mines, sent an e-mail in July to a number of federal ministers asking for Ottawa to kick in as much as $779-million to roughly match Ontario’s contribution. As part of his business case for investing in the Ring of Fire, Mr. Rickford referenced a number of often-cited huge financial projections about the project that have no supporting evidence …”
- “Noront considers building small-scale ferrochrome pilot plant in Sudbury” (sudbury.com) – ctvnews.ca
- “On both sides of the river, resistance mounts over planned smelting plant … The new plant will be located on the Algoma Steel property located just across the river (in Sault Ste. Marie, Ontario), pending a land agreement with the steelmaker. However, some citizens on the American side are not happy regarding the decision. Local barista and LSSU student Tomantha Sylvester is one of two leaders of a Sault, Michigan-based protest group …” (sooeveningnews.com)
- “Noront CEO Alan Coutts wants you to be confident” (notes, interview with Noront CEO Alan Coutts via wawa-news.com)
- “Noront Resources Ltd. has closed a non-brokered private placement for gross proceeds of $2.06 million from the issuance of flow-through shares and units. The Company issued 7,900,000 FT Shares at a price of C$0.25 per FT Share for gross proceeds of $1,975,000 and 425,000 Units at a price of C$0.20 per Unit for gross proceeds of $85,000 … Net proceeds from the private placement will be used for the exploration and development of the Company’s Eagle’s Nest Project and chromite deposits located in the Ring of Fire metals camp in Ontario and for general working capital purposes …” (company news release)
- “Noront Resources Ltd. is announcing that it has entered into a seventh amending agreement dated October 31, 2019 with its largest shareholder, Resource Capital Fund V L.P., to extend the term of its existing US$15 million (CAN $19.9 million) convertible debenture …” (company news release)
- Ontario Liberal Party leadership contender wants more attention paid to Ring of Fire: “The Ford government continues to fail Sudbury and Northern Ontario, a leading candidate for the Ontario Liberal leadership says. Steven Del Duca made the comments (earlier this month) as the provincial government presented its 2019 Ontario Economic Outlook and Fiscal Review … “I think it’s been more than a decade since (former) Premier McGuinty first talked about unlocking the Ring of Fire; we have to get on with it,” Del Duca said. “But we have to do it in a way that’s meaningful, where the partnerships are real and genuine, where the funding is at the table and the shovel gets in the ground, and we unlock that potential.” …” (thesudburystar.com)
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Ring of Fire News 