A couple others
in response to
by
posted on
Aug 27, 2013 02:02PM
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)
Perhaps related or not....a couple other stocks that seem to be breaking out of a narrow range today
KWG
PKL
I'm thinking, like others suggest, recent activities in relation to moving forward with infrastructure plans. Note that PKL (PC Gold) is in Pickle Lake....and well, KWG...we all should know the story there.
I haven't posted for some time now....so I would also like to weight in on some other points
-- the main issue facing the ring of fire is the environmental assessment process
The natives have voiced their disapproval with the current process from day one...and have yet to indicate that they are willing to back down on that. However....in this discussion, the example used is more often than not...Cliffs....and the chromite.
Note that although Cliffs and Noront are both pursueing the same environmental process, Noronts' is for the double eagle underground nickel.copper/PGE mine, while Cliffs is for a large open pit chromite mine.
Furthermore, Noront's plans appear much more "first nations friendly" than Cliffs in that Noronts plans allow for shared use of infrastructure.
Therefore, it is my opinion that although the natives may never back down with respect to Cliffs environmental process for a large open pit chromite mine, the same may not be true for Noronts project. Hence, Cliffs have put their plans on hold for the time being, while Noront pushes ahead with their environmental process....the results which should be due soon.
It should be a game changer if the first nations accepts the results of Noronts environmental process....then watch Cliffs cry foul.
Regardless....nice to see a material move to the upside