HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Babjak1

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Both CEO's ,..gone in within 6 months???

posted on Jul 10, 2013 03:41PM

Wes Hanson as of Jan 2013 is no longer CEO of Noront ..and months later, Cliff's Ceo announces retirement. Anyone else find it weird that a historic discovery has the 2 prime players with NO Ceo??

Anyone else feeling some sort of a merger, partnership is happening with a big hitter at the helm.?? with infrastructure announcements due any day now...the timing is uncanny.

Did these 2 CEO's step down in an orchestrated plan to bring on board phase II of Ring of fire??

http://www.northernlife.ca/news/localNews/2013/07/10-cliffs-carrabba-sudbury.aspx

Leadership shake-up at Cliffs Natural Resources

By: Sudbury Northern Life Staff

| Jul 10, 2013 - 1:47 PM

Mayor Marianne Matichuk speaks with Cliffs Natural Resources president and CEO Joseph Carrabba during his May 2012 visit to Sudbury, not long after the company announced it would be siting a chromite smelter in Capreol. Carrabba announced on July 9 he's stepping down from the company by the end of the year. File photo.

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There's been a leadership shake-up at Cliffs Natural Resources.

The changes come less than a month after the company announced it has decided to temporarily suspend its environmental assessment activities on its Ring of Fire chromite project largely because of a series of regulatory delays.

The project's specs include a $1.8-billion processing facility in Capreol,

President and CEO Joseph Carrabba announced July 9 that he plans to retire from the company by Dec. 31, 2013. He'll continue to serve as the head of the company until his successor is found.

James Kirsch, who currently serves on Cliffs' board as lead director, has been elected non-executive chairman of the board, effective immediately, replacing Carrabba as chairman.

As well, the company's executive vice-president and president of global operations, Laurie Brlas, has retired and is leaving the company immediately.

To facilitate the transition, Cliffs has formed an office of the chairman, led by Kirsch.

“It has been a privilege to lead this great company over the last eight years,” Carrabba said, in a press release.

“I am proud of the global operational footprint we have established, and believe now is the right time to begin this leadership transition. I look forward to working with the office of the chairman during this period as we continue to provide world-class iron ore and coal products to the world's largest steel markets.

“We thank Laurie for her service over the past seven years as chief financial officer and most recently as executive vice-president, global operations. We wish her well in future endeavours.

Kirsch said the company has a strong executive team that will aid in a seamless transition.

“On behalf of the entire board of directors, I want to thank Joe for his dedication to Cliffs over the last eight years,” he said.

“We greatly appreciate his contributions and look forward to his continued leadership during the transition period ahead. I am honoured to have the opportunity to work closely with my fellow board members and Cliffs' senior management team as non-executive chairman.

“We are committed to improving our operating performance and increasing our competitiveness in challenging market conditions as we work to create value for our shareholders.”