Question: If Wyloo Metals successfully takes Noront private they would be the only foreign entity to hold a monopoly on all known chrome reserves in North America. Does this not pose a threat to not just Canada,  but the US as well, if they as a private company do not have to report their business activity to the public. I mean nickel and PGEs is one thing, there are other mines, but when a company holds the exclusive rights to a specific mineral on a critical minerals list should that not send up red flags, and force Wyloo to be more transparent (publicly traded)...???? Besides this, where is the competition...Of yeah...There is no domestic competition in the chromite space, because up until the past 10-15 years Canada never had one...So all the more reason to keep this public, or even partially government owned..So what? Ten years from now Wyloo Metals takes Canada's, or rather North America's, chromite and ships it raw internationally, holds it randsome till their demands are met by taxpayers, keeps everything secret while cutting FN deals under the table against public best interests while the public taxpayer supports the FNs deals....The list goes on...If our governments fail to see this problem then one really has to question their ethics and honesty, because from where I sit the whole thing does not look on the up and up but rather down and low.

One of my main concerns as a shareholder is what may be perceived as direct negotiations with specific First Nations ahead of the deal to buy Noront privately before the legal approvals. This does not sit well with me, and I would think that many of my fellow shareholders feel the same. There seems to be this concerted effort to remove us retail shareholders, and the general public, completely from the picture...Now I may be wrong here, but every move made by Wyloo seems to avoid certain aspects of public disclosure (media blackout), which has me worried as a Canadian. YES...It's  business as usual, but somehow there is more to this hush, hush. I just hope the hush, hush is because Canada is doing it's best to protect itself from being taken advantage of.

TM.

All credit to this website below:

https://www.google.com/amp/s/iclg.com/practice-areas/mining-laws-and-regulations/canada/amp

....The federal Extractive Sector Transparency Measures Act creates stringent reporting standards for Canadian oil, gas and mining companies, in order to implement Canada’s international commitments in combatting domestic and foreign corruption.  All: (i) entities that are listed on a stock exchange in Canada; and (ii) entities that have a place of business in Canada, do business in Canada or have assets in Canada and that meet certain thresholds must report payments including taxes, royalties, fees, production entitlements, bonuses, dividends and infrastructure improvement payments of 100,000 Canadian dollars or more, in the aggregate, to local and foreign governments; as of 2017, this includes sums paid to Aboriginal governments......

...The provinces and territories (other than Nunavut) own the majority of the mineral rights in Canada, though mineral rights may also be held by private entities, by Aboriginal groups and by the federal government.  In Nunavut, mineral rights are owned by the federal government, by Aboriginal groups or by private entities.

Federal government involvement in the regulation of mining operations is limited to those undertakings that fall within federal jurisdiction.  These specific undertakings include uranium in the context of the nuclear fuel cycle (i.e., from exploration through to the final disposal of reactor and mine waste), mineral activities related to federal Crown corporations, and mineral activities on federal lands and in offshore areas.  The manufacture, sale, use, storage and transportation of explosives used in exploration and mining also all fall within federal jurisdiction.  These are regulated under the Explosives Act (Canada).  Federal jurisdiction also covers the export, import and transit across Canada of rough diamonds, which is regulated under the Export and Import of Rough Diamonds Act.  The Federal Extractive Sector Transparency Measures Act creates stringent reporting standards for Canadian oil, gas and mining companies, in order to implement Canada’s international commitments in combatting domestic and foreign corruption.  All: (i) entities that are listed on a stock exchange in Canada; and (ii) entities that have a place of business in Canada, do business in Canada or have assets in Canada and that meet certain thresholds must report payments including taxes, royalties, fees, production entitlements, bonuses, dividends and infrastructure improvement payments of 100,000 Canadian dollars or more, in the aggregate, to local and foreign governments; as of 2017, this includes sums paid to Aboriginal governments.

Any mining disclosure (whether oral or written, and including presentations to investors and disclosure on a mining company’s website) made available to the public in Canada is governed by National Instrument 43-101, Standards for Disclosure in Mineral Projects.  This instrument was developed by the Canadian Securities Administrators and is administered by the relevant provincial and territorial securities commissions....

....In March 2021, the ICA guidelines were updated to identify additional issues that could present foreign investment national security concerns, including the potential impact of the investment on critical minerals and critical mineral supply chains.....

....4.3        Are there any change of control restrictions applicable?

The “net benefit review” and “national security review” rules discussed in question 4.2 apply in all instances where a non-Canadian acquires control, directly or indirectly, of a Canadian business.

In addition, proposed foreign investment may be subject to review by the Canadian Competition Bureau under the federal Competition Act.  Where each of certain thresholds are met, a proposed investment requires pre-merger notification and either approval or expiry of a statutory waiting period before the transaction may go forward.  The Canadian Competition Bureau also has jurisdiction to review and challenge all mergers within one year of completion on the grounds that the transaction will result in a substantial lessening or prevention of competition.....

TM.

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