RING OF FIRE Electrical Infrastructure Capex Study Finds Electrification of Marten Falls, Webequie, Eabematoong, Neskantaga and Nibinamik First Nations Economically Feasible with Rail-Veyor Tramway Installation
Toronto, Ontario--(Newsfile Corp. - January 4, 2022) - KWG Resources Inc. (CSE: KWG) (CSE: KWG.A) (FSE: KW61) ("KWG" or the "Company") and Canada Chrome Corporation ("CCC") are pleased to announce their receipt of an Electrical Infrastructure Capex Report from OneLine Engineering, Engineering Branch of EPTCON Ltd., a Cormorant Utility Services Company (the "Electrification Plan").
The report notes that previous project financings of such infrastructure capital cost were based on 30-year amortization for debt at an interest rate of 5% per year in 2012, when the Bank of Canada overnight rate was 1% per year. The current overnight rate of ¼% per year and the extent of resources in the Ring of Fire can be expected to contribute positively to the economic feasibility of the Electrification Plan so that user rates can be maintained at very attractive levels over the economic life of the infrastructure assets and the resources that may thus be developed in the Ring of Fire.
