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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Message: Northern MIner: Ontario to work with First Nations to unlock Ring of Fire

thanks for posting this Ringer.

two things jumped out at me from this article.

(1) Cobalt.

Alan Coutts stated:

"We would also like to establish a cobalt resource for the deposit. We have cobalt, but we don’t currently have resources established.”

Back in July 2017, cobalt was over $40 LB and not a peep from Noront about it. No strong words like ,

"WE HAVE COBALT" as is being spoken ....now

The cobalt  Price went down and now it's at around $15... chart below

.http://www.infomine.com/investment/metal-prices/cobalt/5-year/

I also  remember this article; Interesting that that Gino Chitaroni ..used to work as a geological tech. at TECK :

https://www.thesudburystar.com/2017/07/07/accent-cobalt-could-take-centre-stage-again/wcm/451e7b37-cca0-3f25-5dac-5324413e310e

COBALT – As much attention as the Ring of Fire has garnered, the expected resurgence of the Cobalt Camp is a bigger story.

The Ring of Fire . . . is too much pie in the sky,” Gino Chitaroni says.

“There are too many working parts. You don’t need millions of dollars there. You need billions. There is no way in hell it will be developed anytime soon.”

Chitaroni, president and manager of PolyMet Labs in this old mining town, says political problems are delaying the Ring of Fire project in northwestern Ontario even more. It will be at least a decade – probably more – before anything comes out of it, he believes.

But the Cobalt Camp, he says, is ready to roll again.

=====================================================

(2) Diesel Generators.

"Coutts says Noront envisions running the Eagle’s Nest project on diesel generators. “We prefer to have grid power, or some other sorts of power at the site that is more sustainable and cheaper.”

20 Megawatts of diesel power is needed at the noront mine. Debeers, victor mine had 20 Megawatts.

Debeers closed the Victor mine , May 2019.

150kw away....there is  20 Megawatts of available power  owned by Mushkegowuk's Five Nations Energy.  

Debeers paid for it all. see link below.

https://www.hydroone.com/abouthydroone/RegulatoryInformation/Archive/Archives/EB-2004-0545/EB-04-545_Application.pdf

Five Nation Energy is responsible for all the costs of  yearly maintenance since they "own" the stuff that Debeers paid for...but.... who  to invoice now that Debeers has stopped mining at Victor? OUCH.

And Five Nations did want to supply the Ring back in 2015...I can only imagine they must want that even more now that Debeers packed up and left.

from 2015,

http://mininglifeonline.net/news_view_5216.html

"FNEI’s Chief Executive Officer, Lucie Edwards, states, We are passionate about emPOWERing the north!” With the Ring of Fire developments, there is a growing energy demand in the region"

I doubt Noront is interested in the Debeers type of deal. where Debeers paid for the hydro infrastructure, and then handed ownership to  Five nations Energy who in turn supplied power to the remote reserves and charged debeers for power to victor.

From what I see Noront would rather put up diesel generators then get the sucker deal Debeers got.

Perhaps Five Nations Energy can get a loan, pay for the infrastructure to bring the 20MG from Victor to the ROF and enter into an agreement with Noront.

 

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