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)
Message: ROF budget funding....more confusion ??
Sorry if this has already been posted and/or debated (It is an article that was released Yesterday at 6:00 PM)
Budget concern
By Leith Dunick, tbnewswatch.com
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Mayor Keith Hobbs says making Ring of Fire infrastructure money contingent on a matching federal partnership is concerning for the future of the mining development.
Mayor Keith Hobbs has deep concerns that $1 billion earmarked for Ring of Fire infrastructure now appears to be contingent on matching federal funds.
Hobbs, who watched the budget being delivered on television at his city hall office Thursday, said his government sources have told him that means the money will have to be drawn from the $14-billion Building Canada fund.
When announcing the $1 billion investment last week, a trio of provincial ministers made no mention of the money being contingent on federal participation, and vehemently said they wanted Ottawa to fund its share of the estimated $2.2 billion project as a standalone entity as they’ve done elsewhere in Canada.
“It is a bit of a concern after speaking to some people in the federal government yesterday,” Hobbs said. “Apparently their stance is they’ve already contributed $14 billion, or earmarked $14 billion ... with the Build Canada fund and the provincial government has to take out of that fund for matching dollars.”
However, Liberal Minister of Housing and Municipal Affairs Bill Mauro was adamant the money is not contingent on the federal government stepping up to the table, despite the word being used in budget documents.
“Our money is not at peril. Our money is there,” said Mauro, reiterating the province needs help.
“Yes, we need the federal government to be a part of this.”
Hobbs said looks like political gamesmanship being played between Ottawa and Toronto. But it’s Northern Ontario communities that are getting caught in the crosshair.
Hobbs said forcing Ontarians to draw from the Building Canada fund would have trickle-down effects elsewhere.
“We in the north still have a crumbling infrastructure, probably worse than southern Ontario communities. It’s just going to be a matter of wait and see to see where those dollars are spent,” the mayor said....
Hobbs, who watched the budget being delivered on television at his city hall office Thursday, said his government sources have told him that means the money will have to be drawn from the $14-billion Building Canada fund.
When announcing the $1 billion investment last week, a trio of provincial ministers made no mention of the money being contingent on federal participation, and vehemently said they wanted Ottawa to fund its share of the estimated $2.2 billion project as a standalone entity as they’ve done elsewhere in Canada.
“It is a bit of a concern after speaking to some people in the federal government yesterday,” Hobbs said. “Apparently their stance is they’ve already contributed $14 billion, or earmarked $14 billion ... with the Build Canada fund and the provincial government has to take out of that fund for matching dollars.”
However, Liberal Minister of Housing and Municipal Affairs Bill Mauro was adamant the money is not contingent on the federal government stepping up to the table, despite the word being used in budget documents.
“Our money is not at peril. Our money is there,” said Mauro, reiterating the province needs help.
“Yes, we need the federal government to be a part of this.”
Hobbs said looks like political gamesmanship being played between Ottawa and Toronto. But it’s Northern Ontario communities that are getting caught in the crosshair.
Hobbs said forcing Ontarians to draw from the Building Canada fund would have trickle-down effects elsewhere.
“We in the north still have a crumbling infrastructure, probably worse than southern Ontario communities. It’s just going to be a matter of wait and see to see where those dollars are spent,” the mayor said....
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