Ring of Fire News


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

Still More on Ontario’s Latest “Road to the Ring” Announcement …


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More on the Latest Ontario “Road to the Ring” Announcement


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And The Winner of the “Route Into the Ring of Fire Sweepstakes” Is …

… a year-round access road from near Red Lake running east (with an all-weather road from Nakina to Marten Falls).  More details via …

  • Ontario’s Info-machine“Ontario is taking an important next step toward developing the Ring of Fire, working with Webequie, Marten Falls and Nibinamik First Nations to plan and construct a year-round access road into the proposed mining development site being pursued by Noront Resources Ltd. As part of this project, the province is also working with First Nations to build all-season access roads to their communities.  Premier Kathleen Wynne was in Thunder Bay today with the Minister of Northern Development and Mines, Michael Gravelle, to announce that Ontario will support First Nations to plan and construct an east-west road connecting the Webequie and Nibinamik communities to the provincial highway network north of Pickle Lake. This project would provide all-season access to both First Nations communities as well as into the Ring of Fire development.  The province is also supporting Marten Falls First Nation to plan and construct an access road connecting the community to the existing provincial highway network at Aroland/Nakina.  Communities are working to begin environmental assessments of these projects by January 2018 and plan to begin construction in 2019, pending all necessary approvals.  As a next phase, Ontario will continue to support Marten Falls to undertake further technical and environmental studies that could inform planning and development of a north-south access road tied to the development of, and business case for, chromite mining in the Ring of Fire …”
  • Noront Resources:  “… The provincial government agreed to support and fund the following road proposals which will connect First Nation communities to the Ring of Fire:
    • An east-west road connecting Webequie and Nibinamik First Nations to the provincial highway network north of Pickle Lake (the “East-West Road”). This road will continue from the Community of Webequie to the Ring of Fire.
    • A north-south community access road is being planned for construction by the Marten Falls First Nation with an option to expand the road to the Ring of Fire to support the development of chromite mining (the “North – South Road”).
      An environmental assessment of both road projects is expected to begin by January 2018, followed by construction in 2019 pending all necessary approvals. This timeframe allows Noront to advance its pre-development work and ready itself for the three-year construction of its Eagle’s Nest nickel, copper, platinum group metal mine …”
  • KWG Resources (who has plans with China to build a railway north out of Nakina into the RoF):  Nothing to say as of this post
  • investorintel.com:  “Noront Resources’ (TSXV: NOT) shares jumped 30% to $0.43 today in response to an announcement by Premier Kathleen Wynne that the Province of Ontario is supporting First Nations Proposal to Build All-Season Access Road. This marks a significant step forward for northern residents. On the one hand, it will open up Noront’s Ring of Fire project with $60 B from deposits of high-grade chromite, high-grade nickel, copper, zinc, gold, platinum group metals and vanadium …”
  • Northern Ontario Business (1):  “The province has announced planning will begin on an access road into the Ring of Fire.  On Aug. 21 the province said it would work with Webequie, Marten Falls and Nibinamik First Nations to “plan and construct a year-round access road into the proposed mining development side being pursued by Noront Resources.”  Premier Kathleen Wynne and Northern Development Minister Michael Gravelle were in Thunder Bay to make the announcement.  “I am grateful to the Matawa First Nations who have been working with us for years to get to this historic day,” Wynne said in the announcement …”
  • Northern Ontario Business (2)“The lead Ring of Fire mine developer is pleased with the Ontario government tabling a road plan to reach the deposits in the undeveloped James Bay mineral belt.  “Today’s announcement by Premier Kathleen Wynne and the Chiefs of Webequie, Marten Falls and Nibinamik First Nations is a major step forward that will re-energize development of the Ring of Fire region,” said Noront Resources president-CEO Alan Coutts in an Aug. 21 news release …”
  • baytoday.ca:  “Ontario has taken an important next step toward developing the Ring of Fire, working with Webequie, Marten Falls and Nibinamik First Nations to plan and construct a year-round access road into the proposed mining development site being pursued by Noront Resources.  As part of this project, the province is also working with First Nations to build all-season access roads to their communities …”
  • The Canadian Press (via Globe & Mail)“Development of the chromite-rich Ring of Fire region in northern Ontario is one step closer after the premier announced Monday that agreements with First Nations are in place to start road construction in the area.  The provincial government has been talking with the chiefs of the Matawa First Nations for years, since it pledged $1-billion in 2014 to fund infrastructure into the area about 500 kilometres northeast of Thunder Bay, Ont.  The region holds one of the world’s richest deposits of chromite — used to make stainless steel — as well as nickel, copper and platinum, valued at anywhere from $30-billion to $60-billion.  Premier Kathleen Wynne’s announcement in Thunder Bay comes three months after she told nine First Nations in the region she wanted to see progress in weeks, not months, on discussions about the roads or she would move to bilateral talks with individual communities …”
  • Toronto Star:  “After years of negotiations and delays, the provincial government is moving ahead with an all-season road to the Ring of Fire chromite mining development.  Premier Kathleen Wynne announced Monday in Thunder Bay that agreements have been reached with the Webequie, Marten Falls and Nibinamik First Nations to begin construction of the road.  The route would go to the proposed Noront Resources mining project that Queen’s Park hope will give Northern Ontario a much-needed economic boost as well as link remote communities with other highways.  Environmental assessments will begin in January, six months before the June 7 provincial election, and construction is set to start in 2019 …”
  • cbc.ca“The provincial government says it’s working with three remote northwestern Ontario First Nations to develop year-round road access that will link the communities to Ontario’s highway system.  The partnership between the province, Webequie, Nibinamik and Marten Falls will also facilitate access to the Ring of Fire — a mineral-rich area in the James Bay lowlands, about 575 kilometres north of Thunder Bay — according to the province …”
  • sudbury.com:  “Premier Kathleen Wynne is in Thunder Bay this morning, announcing that partnership agreements are in place to build a permanent, four-season road to the Ring of Fire mineral deposit in the northwest.  Touted as an historic mineral deposit that includes chromite and other minerals, the Ring of Fire is in a remote, swampy part of the province. Settling on how to access the deposit, mine the deposit and work with First Nations in the area has seen the process toward development take a long and meandering course …”
  • Timmins Free Press“Roadwork is about to get underway on the Ring Of Fire mining development with financing help from the province of Ontario, it was announced Monday morning in Thunder Bay.  Premier Kathleen Wynne and Northern Development minister Michael Gravelle announced that a new east-west access road is to be built connecting Webequie and Nibinamik communities to the provincial highway system north of Pickle Lake. The road will eventually connect Webequie with the Ring Of Fire mining operations.  At the same time, plans were revealed for a new north-south access road to be built connecting Marten Falls with the provincial highway system near Nakina.  This is the first significant announcement of government involvement in the project since it was first being explore and promoted nearly ten years ago …”
  • tbnewswatch.com“The Ontario government is preparing to take a big step forward in developing the Ring of Fire and providing year-round access to remote communities near the chromite-rich deposit.  Premier Kathleen Wynne was in Thunder Bay on Monday to announce the government is moving ahead with building an all-season access road to the Ring of Fire.  “We are moving forward with our plan to unlock one of our biggest mineral opportunities in almost a century and we are taking that step together with First Nations partners,” Wynne said during the announcement.  The road will connect Webequie, Marten Falls, and Nibinamik First Nations to existing provincial highways north of Pickle Lake and Aroland First Nation. Preliminary assessments will begin immediately and construction is expected to start in 2019.  Wynne did not have a dollar figure for the construction of the road, saying it will be part of the province’s $1 billion investment toward infrastructure for the Ring of Fire …”

More, as it happens …

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#RingOfFire (#RoF) News – August 20, 2017

  • We’ll see …  “Sources say Premier Wynne set to make Ring of Fire announcement —  Premier Kathleen Wynne is set to make an announcement about the Ring of Fire.  Sources tell CTV the premier is expected to be in Thunder Bay on Monday to make an announcement about the Ring of Fire, but at this point there are no details or confirmation from provincial officials …”
  • Meanwhile … “Ring of Pants-on-Fire: Kathleen Wynne’s ‘weeks, not months’ deadline blows by — This spring, Ontario’s premier seemed determined to speed up negotiations on developing the mineral-rich Ring of Fire — then, nothing happened. John Michael McGrath ponders why …”
  • Good question …  “Are the feds ready to buy into the Ring of Fire? – Transport minister launches national $2-billion transportation infrastructure fund — It’ll be a wait-and-see proposition if Ottawa is finally ready to invest in mining-related transportation infrastructure for Northern Ontario’s Ring of Fire.  Federal transport minister Marc Garneau announced some of the details behind the Trade and Transportation Corridors Initiative (TTCI) as part of the government’s “nation-building infrastructure plan” on July 4 …”
  • Ontario mines minister Michael Gravelle back @ work  “Just over 5 months ago, I announced that I was stepping aside as Minister of Northern Development and Mines to deal with depression.  This time has given me the opportunity to work more closely with my health team to better understand the struggle I’ve been experiencing and how best to heal and recover.  I’m pleased to say that, while I have been away, I have made great progress in understanding this illness and how to cope with and treat it. But, like many with depression, I am continuing the hard work it takes to feel better. I’ll be the first to admit I’m not there yet.  But I’m standing in front of you here … because I feel that I now have the strength to begin transitioning back to the work that I love to do, for my community, for the North and for Ontario …” moremoremoremore
  • Elsewhere on the political front … “Sault MPP Ross Romano says he’s hoping to schedule a tour of the Ring of Fire area and its nearby five Indigenous communities later this summer.  “There’s a few challenges that we’re addressing now,” Romano said during a Northern Ontario media conference call led by PC leader Patrick Brown.  Romano, elected in a provincial byelection just more than a month ago, has been named Northern Ontario’s critic of jobs and the Ring of Fire.  He said that since starting his role about 40 days ago, he’s met with executives from NorOnt on three occasions and has established a good line of communications with them.  “I’m running a lot of laps on this one,” he told The Sault Star. “There is an issue that needs to be resolved and I am trying to assist the Economic Development Corp., who is lead on this one, for their bid submission to NorOnt.”  Brown said if the PC’s form the next provincial government, he vows to build the Ring of Fire transportation corridor and dedicate the funds needed to do so in order to create opportunities in the North …”
  • #RoF First Nation meets the miners  “On Aug. 8 and 9, 2017, Marten Falls First Nation held the first of its kind Mining Symposium, in Thunder Bay, Ontario for its membership, the traditional land holders in the Ring of Fire. The Symposium provided a venue for the membership to meet the companies conducting mining and exploration activities in the traditional territory of Marten Falls. The format allowed for the presenters to personally discuss and address the issues and concerns of the traditional land holders …”more
  • Mining Analyst Stan Sudol Commentary  “Mines can create Indigenous middle class in Ring of Fire … Wynne must focus on “economic reconciliation” if she is not to appear as a political hypocrite. Finalizing a road into the Ring of Fire with community spurs will ignite the economic development and jobs that the impoverished Indigenous communities in the Ring of Fire desperately need.  And for First Nation leaders, who might be opposed to mineral development, they should consider that 150 years of government support has done little to create economic prosperity in their impoverished communities and the lack of initiative during the first two years of a left-leaning, pro-Indigenous Trudeau administration is very troubling. But as the Inuit in Nunavut have learned, sustainable mineral development of their resources can be the foundation of an Indigenous middle-class that they so rightly deserve.”
  • More on where Noront’s (proposed, for now) smelter’s going to go – “Toronto-based mining company Noront Resources revealed its plan to build a ferrochrome processing facility (FPF) in Northern Ontario (19 Jul 2017) at the Valhalla Inn to a crowd of about 130 people.  The company is considering locating the plant, which could initially create up to 350 jobs, in either Thunder Bay, Sault Ste. Marie, Timmins or Sudbury.  The Thunder Bay Community Economic Development Commission (CEDC) and Fort William First Nation Economic Development Corporation invited Noront to deliver a preliminary presentation about plans for the FPF, and to discuss any advancements with the Ring of Fire, a mineral-rich zone located 400 kilometres northeast of Thunder Bay …” more (City of Thunder Bay statement) – moremore
  • Meanwyhile, some ec-dev re-org @ the Soo  “The grim reality of economic uncertainty in Sault Ste. Marie has led to a shakeup in the northeastern Ontario city’s approach to economic development.  A day after council decided that the city’s model for the Economic Development Corp. (EDC) , and the Innovation Centre needed restructuring, with $444,656 cut from the EDC’s budget to be spent elsewhere, Tom Dodds, the Sault’s economic development CEO tendered his resignation on Aug. 1 … (Rob Reid, president and chair of the EDC’s board of directors) doesn’t expect these organizational changes to negatively impact the Sault’s bid to land a potential ferrochrome smelter to process chromite from the Ring of Fire …”
  • Analyst’s take on Noront (1)  Penny stock shareholders are becoming inquisitive about NORONT RESOURCES LTD (OTCMKTS:NOSOF), following the fact that the share price has moved $-0.006, reaching the $0.186 price level in a recent trade.  A big benefit of investing in small-cap shares is that there is a prospect to outpace the institutional investors. In addition, mutual funds have limits controlling their power to purchase large lots of any one firm’s outstanding shares …” (7 Aug 2017)
  • Analyst’s take on Noront (2)  “The stock of NORONT RESOURCES LTD (OTCMKTS:NOSOF) registered a decrease of 82.11% in short interest. NOSOF’s total short interest was 18,300 shares in August as published by FINRA. Its down 82.11% from 102,300 shares, reported previously. With 91,700 shares average volume, it will take short sellers 0 days to cover their NOSOF’s short positions.  The stock increased 0.88% or $0.002 on August 14, reaching $0.241 …” (14 Aug 2017)
  • Analyst’s take on Noront (3)  “When applying indicators for technical analysis, traders and investors might want to check out the ATR or Average True Range. The current 14-day ATR for Noront Resources Ltd (NOSOF) is currently sitting at 0.01. The ATR basically measures the volatility of a stock on a day-to-day basis. The average true range is typically based on 14 periods and may be calculated daily, weekly, monthly, or intraday. The ATR is not considered a directional indicator, but it may reflect the strength of a particular move …” (14 Aug 2017)
  • Fundraising news from KWG (1)  “KWG Resources Inc. is pleased to announce closing (1 Aug 2017) of an additional tranche of its previously announced private placement of units at a price of $0.021 per Unit. The Company issued a total of 2,868,428 Units for aggregate gross proceeds of $60,237 … The gross proceeds received by the Company from the sale of the Units will be used by KWG principally to improve its financial position, to pay the fees associated with this Private Placement and for general corporate expenses …”
  • Fundraising news from KWG (2)  “KWG Resources Inc. is pleased to announce closing effective as of June 30, 2017 of an additional tranche of its previously announced private placement of units at a price of $0.021 per Unit. The Company issued a total of 4,915,714 Units for aggregate gross proceeds of $103,230 … The gross proceeds received by the Company from the sale of the Units will be used by KWG principally to improve its financial position, to pay the fees associated with this Private Placement and for general corporate expenses …”
  • Not just main #RoF players could benefit from infrastructure into the area  “Tom Morris is excited to be finally returning to his roots.  The president-CEO of Northern Superior Resources has two projects on the go this summer as his Sudbury exploration outfit advances a promising Quebec gold project while simultaneously blowing the dust off a mothballed gold and base metals property in Ontario’s Far North … After raising more than $4 million in flow-through dollars, and $2 million coming from strategic mining investor Eric Sprott, the company entered the summer field season with renewed optimism … This summer they’re putting boots back on the ground at their Ti-pa-haa-kaa-ning (TPK) gold-silver-copper property in the James Bay lowlands … Located 30 kilometres west of the Ring of Fire, Morris said whatever road infrastructure is installed to reach those chromite and nickel deposits is sure to benefit his company …” – more (PDF, company news release)

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#RingOfFire (#RoF) News – June 23, 2017

  • More on Sault Ste. Marie & Sioux Lookout looking for some RoF linkages “The Sault Ste. Marie Economic Development Corp. is joining their counterparts in Sioux Lookout to support initiatives that will bring economic diversity to the North with the Ring of FireThe proposal calls for a trans-load facility to be established in Sioux Lookout, where raw materials can be trucked and transported via rail across the region.  Sault Ste. Marie was selected as the ideal partner for the project because of its location, history and infrastructure, said EDC CEO Tom Dodds.  Dodds was recently in Sioux Lookout to tour the proposed trans-load facility location and discuss integrated transportation systems and the commercial and industrial networks that could benefit from the proposal.  “Our concept is the same and we see the synergies that could be created from an east west route,” Dodds said.  That east-west route, would run along an old winter road system that is already in place to service communities to Pickle Lake …” more (mynorthbaynow.com)
  • Still with the “who gets the smelter?” hunt “Noront Resources’ search for a home for a potential ferrochrome smelter took them to Sudbury and Timmins in mid-JuneThe largest claim holder in the Ring of Fire recently tweeted photos of visits to the northeastern Ontario cities as part of a pan-Northern Ontario scan to find a suitable landing spot for a $600-million to $800-million processing plant.  Sudbury, Timmins, Sault Ste. Marie and Thunder Bay-Fort William First Nation are in the mix to host the facility which could be years away from construction given the slow pace of development talks between the Ontario government and First Nation communities in the James Bay region …”
  • One analyst’s take on Noront“The Price to book ratio is the current share price of a company divided by the book value per share. The Price to Book ratio for Noront Resources Ltd. is -7.009414.  A lower price to book ratio indicates that the stock might be undervalued.  Similarly, Price to cash flow ratio is another helpful ratio in determining a company’s value.  The Price to Cash Flow for Noront Resources Ltd. is -12.091297.  This ratio is calculated by dividing the market value of a company by cash from operating activities.  Additionally, the price to earnings ratio is another popular way for analysts and investors to determine a company’s profitability.  The price to earnings ratio for Noront Resources Ltd. is -6.652539. This ratio is found by taking the current share price and dividing by earnings per share …”
  • … and another’s “Noront Resources Ltd delivered 112.4% ROE (Return on Equity) in the last year. However, to put Noront Resources’s Return on Equity in perspective, we must compare it to the performance of its industry, which averaged an ROE of 18.17%. Although, Noront Resources appears to outperform the industry, we can call it more efficient only after assessing the role of leverage in generating those returns and its sustainability based on current financial health …”
  • Here’s whazzup one of the other Rof players … “Bold Ventures Inc. and Marten Falls First Nation are pleased to announce the signing of a Memorandum of Understanding that outlines the values that both the First Nation and the Company will uphold in their relationship. This agreement provides the frame of reference and guidance for both the Company and the First Nation regarding exploration and development work within the Marten Falls First Nation traditional lands …” – more from a recent company update here
  • … and another “Golden Share Mining Corporation is pleased to announce that it has filed Articles of Amendment to change its name to Golden Share Resources Corporation. Shareholders approved a special resolution to change the name at the Company’s Annual and Special Shareholders Meeting held on June 22, 2017 … Golden Share’s participation of a potential rail road to the Ring of Fire region located in north-western Ontario provides tremendous potential for the Company …”
  • Some Fraser Institute think-tank commentary … “IT’S OFTEN said that successful First Nations must operate at the speed of business, not the speed of government. That certainly applies to First Nations affected by the Ring of Fire mining proposal.  Long delays and lack of communication between governments and the nine First Nation communities involved have plagued efforts to establish mining of largely chromite deposits in the region 500 km north of Thunder Bay.  A central bone of contention is the construction of an all-season transportation corridor to get the mined ore to plants in Northern Ontario where it can be refined …”
  • … and a bit of pessimism from a mining company with no dog in the RoF fight: “… “The Ring of Fire . . . is too much pie in the sky,” Gino Chitaroni says.  “There are too many working parts. You don’t need millions of dollars there. You need billions. There is no way in hell it will be developed anytime soon.”  Chitaroni, president and manager of PolyMet Labs in this old mining town, says political problems are delaying the Ring of Fire project in northwestern Ontario even more. It will be at least a decade – probably more – before anything comes out of it, he believes …”
  • RoF an example of how a proposed infrastructure fund could help “Any government initiative with a $35-billion price tag is bound to drum up political debate, and the Canada Infrastructure Bank (CIB) has been seeing its fair share. But I stand with the International Monetary Fund, Canadian and global business groups, and aboriginal organizations who say that the CIB, if well structured, is exactly what Canada needs to grow the economy over the long term … It could help finance run-of-river hydro in Nunavut and take mines and communities off diesel. And we already know how helpful a road would be to Ontario’s Ring of Fire region …” – more on the CIB idea from the Infrastructure Canada info-machine here
  • And, among the Tory seats of the Ontario Legislature … “With Ross Romano named the new Progressive Conservative critic for the Ring of Fire, Vic Fedeli of Nipissing wouldn’t be surprised if the rookie Sault Ste. Marie MPP is already planning a visit to the chromite site. He says the two biggest players at the site, Noront Resources and KWG have been very active recently at the site on their own no thanks to the Wynne Liberals …”

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#RingOfFire (#RoF) News – June 12, 2017

  • New KWG-First Nation partnership afoot KWG Resources Inc. and Marten Falls First Nation have agreed to negotiate the terms of a partnership agreement for mining undertakings in the traditional territories of MFFN, particularly chromite resources in the Ring of Fire. The partnership has been conceived of as an equal sharing of profits that may be derived from mining activities after provision for fully-absorbed manufacturing costs, including comminution, concentration and transportation, plus reclamation, and the amortization of project-finance borrowings …” (company news release) – more (Sudbury Star) – more (Northern Ontario Business)
  • More from KWG’s Chinese experts on the proposed railway north into the RoF“A delegation of KWG Resources and Marten Falls First Nation (MFFN), one of the communities near the Ring of Fire deposits, completed a trip to China to lay the foundation for a Far North railway and project financing. A June 1 KWG release said the group was provided with an overview of the feasibility study began last year, when they most recently visited with their project partner, China Railway First Survey & Design Institute Group (FSDI), at its headquarters in Xian, China on May 15 …”
  • … as well as some work toward getting the Soo a piece of the action from another proposed east-west route into the Ring “Economic development officials in Sault Ste. Marie and Sioux Lookout, Ont. are partnering on a joint initiative to support the Ring of Fire. The proposal calls for a trans‐load facility to be established in Sioux Lookout, where raw materials can be trucked then transported via rail across the region.  To help move the project forward, and to represent his community at the project table, Tom Dodds, CEO of the Sault Ste. Marie Economic Development Corporation, attended a meeting … of the Sioux Lookout Trans‐load Facility Partners …”
  • In other corporate news, a new face on the Noront board“Noront Resources Ltd. … announced that John Pollesel, Senior Vice President, Mining at Finning Canada has been appointed to the company’s Board of directors. Pollesel has over 25 years of mining, operations and finance experience. He was previously Chief Operating Officer and Director of Base Metals Operations for Vale’s North Atlantic Operations, with responsibility for Sudbury, Voisey’s Bay and Manitoba operations along with other mining and metallurgical assets. Prior to that, he was Vice President and General Manager for Vale’s Ontario Operations …”
  • … and KWG pulling in mo’ money & paying some bills “KWG Resources Inc. is pleased to announce closing effective as of June 6, 2017 of an additional tranche of its previously announced private placement (the “Private Placement“) of units (each, a “Unit“) at a price of $0.021 per Unit … The Company issued a total of 8,809,524 Units for aggregate gross proceeds of $185,000, in respect of which 5,000,000 Units were issued for cash proceeds of $105,000 and 3,809,524 Units were issued to a consultant of the Company in payment of consulting fee in the aggregate of $80,000 …”
  • Headline & sub-heading seems to sum it up: The Ring is there – what’s needed is fire to get the job done, says Moe Lavigne — Talking about the Ring of Fire has become an industry unto itself,’ said the KWG Resources Vice President …”
  • A bit of an overview of the latest via sudbury.com
  • as well as myespanola.com
  • On the political front, Ontario’s Tories name a new Ring of Fire critic … Sault Ste Marie’s new MPP, Ross Romano, will be the PC critic for Northern Ontario jobs and the Ring of Fire. Ontario PC Leader Patrick Brown made the announcement at Queen’s Park, updating critic roles for his caucus.  “As our newest MPP for Sault Ste. Marie, I’m looking forward to having Ross Romano work hard every day for Northern Ontario families and as part of the PC caucus,” said Brown in a release. “Ross won a riding that the Ontario PCs have not won in 30 years due to his hard work and commitment. Given his background in serving his community as a city councillor, I know he will dedicate his efforts at Queen’s Park to bring about positive change.” …”
  • … while Ontario Conservative leader Patrick Brown mentions the RoF during recent campaigning “… While knocking on doors during the byelection, Brown said the main issue he heard was the government’s inaction on the Ring of Fire — an estimated $60 billion in chromite deposits located about 400 kilometres northeast of Thunder Bay that the PC leader calls a ‘generational opportunity’. Timmins and Sault Ste. Marie are being suggested as possible locations for a future ferrochrome smelter to process the chromite, which can then be used in the manufacturing of stainless steel.  “The fact the government is not at the table pushing the infrastructure investment is a huge problem. There would be spinoff jobs across northern Ontario with the Ring of Fire,” said Brown.  The development of a transportation corridor, currently under consideration by the Liberal government, would be a priority for Brown …”

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#RingOfFire (#RoF) News – June 2, 2017

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#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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#RingOfFire (#RoF) News – May 18, 2017

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#RingOfFire (#RoF) News – May 12, 2017

  • Tick, tick, tick … “NorOnt Resources will decide by the end of summer where it will build its ferrochrome facility.  Top executives from the operation were in Sault Ste. Marie Wednesday meeting with community leaders and the Chamber of Commerce members outlining their plans and how the Ring of Fire development can provide an economic boost to Northern Ontario communities.  lan Coutts, president and CEO of NorOnt Resources said he wants communities to understand the company and its capabilities and have the supports in place if the community is chosen to host the first ferrochrome facility in North America …”
  • Sudbury wants a smelter, …
  • Timmins wants it
  • and the Soo (as well as those running for a provincial seat there) certainly wants it, too.
  • Noront: Ontario needs to step up before we decide on a smelter  “At least four communities are in the running to host a $1-billion ferrochrome facility to process ore from the Ring of Fire, located in northwestern Ontario.  Top executives with Noront Resources were in Sault Ste. Marie Wednesday and said they will decide by the end of summer where the company will build its ferrochrome facility, which is expected to create up to 350 jobs.  Sudbury, Sault Ste. Marie, Timmins and Thunder Bay-Fort William are competing for the plant.  The Noront executives met with community leaders and chamber of commerce members in the Sault, outlining their plans and how the Ring of Fire development can provide an economic boost to Northern Ontario.  Alan Coutts, president and CEO of Noront Resources, said he wants communities to understand the company and its capabilities, and have the supports in place if that community is chosen to host the first ferrochrome facility in North America … But nothing can be done until the province determines where roads should be built to the Ring of Fire area and the infrastructure is in place to get to the mineral deposits, Coutts said.  Noront is urging the province to come to a conclusion about where the road should be built to connect to the nearest highway, about 280 km away, and move forward with the infrastructure to make it a reality …”
  • Premier: First Nations need to decide  “Premier Kathleen Wynne is warning fly-in First Nations in Northern Ontario they must quickly agree on the construction of a road into their region – one that would also serve mining interests in the so-called Ring of Fire – or she will negotiate unilaterally with those communities that want the project.  It has been three years since the Ontario government said it would spend up to $1-billion to create an all-season road that would make development possible in the massive cache of chromite and other minerals as it connects to some reserves that are not currently accessible by car.  But little progress has been made, in part because the First Nations do not agree among themselves on how to proceed and are concerned about losing jurisdictional rights in the process. Negotiations with provincial officials have not always been productive …”
  • Ontario NDP Leader on Ontario Budget 2017 “…“Not one dime in Wynne’s budget is committed to the Ring of Fire,” said (Andrea) Horwath. “Failing to even mention a project with such massive potential – to create jobs, to grow the economy and to deliver prosperity for workers and their families – I think that’s wrong. To overlook the vast potential of the north is wrong.” …”more
  • Premier: It’s in there, really … “For weeks the NDP and Progressive Conservatives have said the budget drops all references to the Ring of Fire.  Both parties say they can’t find any mention of the $1 billion the Liberals committed earlier in time for the chromite project.   Mike Mantha of Algoma Manitoulin was the latest to ask the Premier during Question Period what happened to the money.   Kathleen Wynne says the money has not been removed and that it’s referenced on page 73 of the budget …”
  • Fact Check — Check page 73 of the budget document here (330 page PDF), and you’ll see it talks about infrastructure funding, but if you do a word search for “Ring of Fire” on the document, it doesn’t appear once.
  • … and I really DO want the Ring of Fire developed “…Wynne also says her government is still committed to the Ring of Fire. She says the $1 billion in funding for infrastructure for the Ring of Fire is still in place, and added the province is still working with the surrounding communities to get development going. Wynne finished the discussion about the Ring of Fire by saying there’s no one in the province who wants shovels in the ground at the Ring of Fire than her.”more
  • Meanwhile, in other corporate news … “KWG Resources Inc. announces that the adjourned Special Meeting of Shareholders of KWG has been cancelled by the Company’s board of directors. It was scheduled to reconvene on Friday, May 12, 2017 but management was unable to solicit sufficient proxies to vote in favour of passing the special resolution and thus the cost of convening the adjourned meeting was not warranted at this time. KWG is also pleased to announce that Bruce Hodgman has been promoted and appointed as a Vice President of the Company …” – a bit more from Hodgman’s LinkedIn profile here

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