Re: From the last MD&A (November 2013) - FYI
in response to
by
posted on
Dec 03, 2013 10:43PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
" The Company has advised the Ministry of Mines and Northern Development that it will maintain that any Order in Council that may be sought to exempt contiguous mineral claims from the requirement that their production be processed to final art in Canada, may only extend to mineral claims in which the Company has an interest."
This section of the MD&A is directly in lien with the following disposition of the Mining Act (Ontario). In short, Frank Smeenk says loud and clear to the Ontario Government: "Be aware Ontario, that not only Cliffs can't expropriate our surface rights for their 100% owned Black Thor, but if they want to ship direct to China or elsewhere and do seek your approval to do so, you can count on us to be a spoke in your wheel and make sure that this granting will apply to Big Daddy ore"
91. (1)All lands, claims or mining rights patented, leased or otherwise disposed of under this or any other Act or by any authority whatsoever are subject to the condition that all ores or minerals raised or removed therefrom shall be treated and refined in Canada so as to yield refined metal or other product suitable for direct use in the arts without further treatment, in default whereof the Lieutenant Governor in Council may declare the lease, patent or other form of title of such lands, claims or mining rights to be void, and the order in council so declaring shall be registered in the proper land registry office, or in the case of a licence of occupation, filed in the Minister’s office, whereupon such lands, claims or mining rights revert to and become vested in Her Majesty, Her heirs and successors, freed and discharged of any interest or claim of any other person. R.S.O. 1990, c. M.14, s. 91 (1).
(2) For the purposes of subsection (1), the Minister may determine the stage of refinement at which any mineral substance is refined metal or other product suitable for direct use in the arts without further treatment. R.S.O. 1990, c. M.14, s. 91 (2).
(3) The Lieutenant Governor in Council may exempt any lands, claims or mining rights from the operation of this section for such period of time as seems proper. R.S.O. 1990, c. M.14, s. 91 (3).
(4) Where there is any conflict between the provisions of this section and the provisions of any general or special Act, the provisions of this section prevail. R.S.O, 1990, c. M.14, s. 91 (4).
GLTA.