Re: Cliffs to sell chromite claims in Ring of Fire area to Noront for US$20 million

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)

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Re: Cliffs to sell chromite claims in Ring of Fire area to Noront for US$20 million

in response to

Cliffs to sell chromite claims in Ring of Fire area to Noront for US$20 million

durban1

posted on Mar 23, 2015 11:42AM

Franco-Nevada has agreed to lend US$22.5 million to Noront and will receive seven per cent interest and royalty payments over time. Noront will also receive US$3.5 million in cash as part of the granting of the royalties.

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