I know for a fact that the Gallagher does not work for Cliffs.
I am not in favour of this proposal, hence the question marks at the end of the title, but I thought it would be an interesting subject for this board.
Considering Cliffs CEO's incorrect prediction that it will be 50 years before development - don't hire this guy to sell your house - and the current depressed mining market, and if the government even thought about doing this, the value would probably be 5 or 10 cents on the dollar.
Not a bad investment for the people of Ontario.
Then give 25% to NAN, keep 25% for Ontario taxpayers and sell the remaining 50% to a major miner who would be interested in developing the project. Yes, it might be a challenge at the present time.
The Quebec government invests in mining juniors so why couldn't the Ontario government do the same.
Remember, regardless of all the politics involved in Ontario, we are still a politically stable jurisdication - though I do sometimes wonder - compared to the many issues in South Africa or a former Soviet republic like Kazakhstan.
Strategic Miner