HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

Free
Message: Promises...Promises

My disappointment likely can be summarized as too little too late. But many take the position better late than never. Hard to argue with that. So let’s look at the issues:

1. Money

“The Government of Canada and the Province of Ontario will each invest $393,814 to enable the Webequie First Nation, in partnership with the First Nations of Eabametoong, Neskantaga and Nibinamik, to complete a regional community service corridor study.

This is a drop in the bucket. They can burn through that much very fast.

.2. Provincial/Federal “cooperation”.

Clearly this is a step forward and not really expected. What it suggests is that there is an election in the works and the ruling conservatives need to be seen to be supporting economic development in Ontario. This is a vote getting move. But the miniscule amount committed speaks volumes. Considering the ruling provincial gov’t are liberals this represents a major move for the federal conservatives.

3. FN Cooperation

On the surface this is clearly an improvement over what we have heard in the past. One Chief recently made the statement that the ore has been in the ground for 500M years and can stay there for another 500M…or something to that affect. Now this is not an agreement to do any mining, only to continue a feasibility study of building an “all weather” road….not even a permanent all season road. But this is the first test of how long all these stakeholders can maintain the peace and move forward instead of backwards. Getting first nations bands to cooperate effectively on significant issues has been a struggle in the past.

My concern is that at this pace it will take a very long time before we ever see any mining. My frustration is that we have been talking about the development of the RoF for 7 years with no progress.

Posters have suggested that there is lots going on behind the scenes and many decisions have already been made. Yes there may have been some things being discussed at some levels but where is the evidence of that? Talk is cheap.

In spite of the fact that the FN could benefit greatly from infrastructure improvements, I have always said that the main stumbling block for development of the north is the FN. Although the involvement of the FN in this small step is encouraging and an improvement over what we have seen, the conduct by the FN and their chiefs on other issues in the past makes me very suspicious that they will continue to be obstructionist. Their pattern of behavior suggests that an agreement only last until they decide they want something else.

But yes I have to agree with posters who say that this is at least a step in the right direction. Just don’t get your hopes too high. Considering that this is the Ring of Fire in the far north of Ontario and the voters are mostly in Southern Ontario, we should consider ourselves lucky to get to this point.




Share
New Message
Please login to post a reply