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: Lack of Ring of Fire progress comes under fire from Ontario Auditor

http://www.auditor.on.ca/en/reports_en/en15/3.11en15.pdf

The link below is the 37 page report.

I will admit to being confused by the statement below in the report:

"No minerals yet extracted from the Ring of Fire:

In 2013, a large international mining company that held the rights to explore and potentially develop the chromite deposits in the Ring of Fire pulled out and sold most of those rights to a Canadian junior mining company.

The Canadian company has no current plans to develop these chromite holdings. Other potential investors cannot mine most of the chromite in the region unless the Canadian company agrees to sell its rights "

We know the "Canadian Company" is Noront.....but...what is meant by ,"Other potential investors cannot mine most of the chromite in the region unless the Canadian company agrees to sell its rights "

Is this report implying Noront has to either choose to develop the chromite deposit or Sell the deposit so others can mine their chromite??? Why would that be??

Share
New Message
Please login to post a reply