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: Deal inked to plan north-south road to Ring of Fire

 

I applaud this deal as working with the FNs as lead proponents is the only way this will go anywhere.  This is how I see this going from here.

MF and W FNs will take the lead, they will initiate the environmental impact assessments and lead consultations with the other FNs.  Then they will negotiate a rev share with the province / municipal taxes and a share of the mine revenue with Noront.  How they split it will either be based on headcount or land size and based on a formula to divide the spoils between the 9 FNs.

Once there is an agreement in principle, then Noront/RCF can start to raise funds for the mine build while the EA is underway.  once the road building starts, then the mine building can also start at the same time.

The reason why I think this will work is you have FNs negotiating with FNs.  once the people see that there will be employment and rev share for the communities, and they can participate and influence mine and road design to minimize impact on their land, people will support this.  The road to the first bar of platinum/palladium is going to be long and challenging (literally), but it will be built if led by the FNs.

Looking forward to higher SPs once the market recovers and looking forward to prosperity that will be shared by all people of Ontario.

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