In particular, the rules suggest that graduating to the main exchange could be challenging for the many junior companies in Northern Ontario’s “Ring of Fire”, a huge source of chromite. Rough estimates have suggested that the Ring holds $50-billion or more of mineral content, but the key issues around transporting the ore are unresolved. For now, the market is ascribing minimal value to Ring of Fire projects.
“Someone would have to be sleeping under a rock to think there aren’t infrastructure issues around [the Ring of Fire]. It’s probably the biggest part of the file,” Mr. Chadda said.
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For a long time we have urged Noront BOD to apply for TSX listing. They were at best not forthcoming
regarding the reasons for not doing so at different times.Maybe even evasive.
Reading above statement it is clear to me that some ROF juniors ( Noront likely included) indeed tried
to graduate to TSX but were denied for lack of ifrastructure.And right now some of them would not even
meet capital requirement for listing.
So, once infrastructure needs are answered and company's valuation improves because of it, we
can then look forward to TSX listing in order to have better access to capital needed for further
development of ROF deposits.
It is interesting how things are not always as they appear at first glance.
GLTA,
Fossil
