Mr Ray was interviewed today on CBC Morning North.
Host Marcus Schwabe asked him if progress is being made in talks with FN and his opinion of how long it will be before there is an agreement.
In summary his answer was that there has been SOME progress BUT in will be a "long walk" before these is any substantial progress.
He stated that unlike Sudbury and Timmins where the FN receive no compensation for the mining activities, this will not be the case in teh ROF. He stated that there has to be a change in thinking by government and companies before there will be any development.
Surprise , surprise.
As an investor I personally would not invest a dime in the ROF with this rhetoric being bantied about. What this tells me is that the ROF may never be developed.
What Bob Ray and the FN need to understand is the hugh investment that is required to develop infrastructure, roads, rail, power plus mines and mills.
It is dificult enough to make a profit under these circumstances without the FN demanding a high percentage of the profits.
There are thousands of other investments available that may see a return is a reasonable period of time.
Very disheartening,
SN
