One way to move forward
in response to
by
posted on
Sep 15, 2014 08:09PM
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)
The Ring of Fire development corporation is a good starter....with $1 billion
Next we need consolidation of all the chrome assets in the ring of fire. Cliffs has chrome...yes...and they paid quite a bit for that....yes....but, so do many others in the ROF. Noront has lots of chrome, not to mention that they are the largest land holder in the area; so many more millions of tons undrilled as of yet....then, there's FNC (optioned to BOL; then to KWG)...and KWG has an interest in some of Cliffs chrome....and there's Probe....and BMK....all have chrome
So....lots of chrome; and each company has spent lots of dollars....so why would we pay for Cliffs chrome only...as Mr Gallagher would suggest.
Every company could argue why we should develop their chrome over the others...as Cliffs has done to shut out KWG by arguing Black Thor over Big Daddy (where KWG has a stake).
I believe the solution is that all the companies that have chrome option their chrome assets to the Ring of Fire development corporation...in return for so many shares of the new corp....perhaps a seat at the table....and royalties.
Then the various first nations get seats at the table as well...perhaps up to 50% of the total seats at the table...so that they are heard....and shares....and a royalty on all the chrome, so that there is no bias as to which deposit gets mined first.
Then we could get down to which deposit to mine first...which is more economical and withstands the environmental scrutiny. With an actual plan to move forward, the feds would kick in some money and further money would be raised by selling bonds and such to finance the remainder.
As a reward for contributing their respective chrome assets, the minings companies would gain access to their other deposits, be it nickel or gold....with roads, hydro, and other infrastructure needs....on top of the royalties they receive if and when their chrome gets mined; plus...they would receive dividends on their shares in the new corp if the new corp is profitable.
The first nations would get much needed infrastructure...they would get a say in what gets developed first....a say in how the mining of the chrome affects their land and their people....and they would be compensated for every ton of chrome that comes out of the ground with royalty payments....and they too would get dividends if the new corp is profitable.
The government would improve relations with the first nations and would generate many billions in tax revenues, not just from the chrome, but the other deposits that would get developed as well.
Just my opinion on one way to more forward....everyone has to see a benefit