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: Al Coutts interview with NNL
NNL Coutts interview -some comments:- The December 12th Alan Coutts interview/presentation has triggered the following comments which are made in the context of my AGO Nov14 th post; repeated (abridged version) below for your reference/convenience. In My Coutts conversation, Alan's action alternatives were (in no particular order): 1. "Do a CLF's". (Depart ROF) 2. "Go to media" (with NOT story); 3. "Legal action" (vs Ontario). To this list I would add :- 2(a), below: the "carving out" strategy, portion below from the nov14/14 posted Coutts conversation. "Coutts had private meeting with three key FN Chiefs scheduled in TB "next week" with the (ontario) minister suggested strategy of "carving out" the EN project and gaining Ea and permitting approval to enable EN winter road completion, materials movement and the announced new deep drilling program ........" It would appear that the "go to media- carving out" strategy has begun. Alan's recommended action is for Ontario to "get moving" by immediately releasing the necessary permits for the carved out Noront project as a "Test Case". Attendant with these "test case" permits would be a Noront-specific Regional Framework IBS. This Initial Benefit Statement would be specific to the Noront project and include Heath, water, shelter, environmental , revenue covenants etc etc, and backed by the earned integrity reputation ("stand on our reputation and track record") of Noront and the financial where-with -all of its major investors ( BAO and RCF). "Advance the project in spirit" and "share the benefits" while using this "test case" as the model solution for Mattawa, Attawapiskat, and xxxx can't spell it, sorry. This recommended way forward action approval:- (NOT permit and framework approval test case) would include the already approved "3 year body of work", and a NOT project-specific IBS. A polite warning (to Ontario) was made. Further delay may trigger major investors investing elsewhere in Canada, or rest of world. For background, (abridged for reference)..... (From my Nov. 14/14- 12:06am AGO Noront post: see below. I would add the today G&M article (see below) of this morning comment re investment alternatives to oil in Canada. I also note that the Coutts alternative #3 (legal action), has already started in PQ this week, with the law suite of PQ province by the uranium mining company. Saturday thinking. I think the carve- out is the last chance for Ontario, to save face, and it's financial bacon. Not to mention us retail types. Peter Nov 14/14 post:-- All three RoF Ont ministers have met with Mr Coutts often. In early mid October meetings all three in sedate meetings enthusiastically endorsed Noronts plan of action, and said they would attempt to assist Wynne gain some "backbone" {everything in "quotes" are Coutts words. Wynne refused because she said she feared the Potential FN disruptions. All ministers said they would take the fall, Wynne did nothing, repeatedly. Publicly, blame Harper for everything, .......... I asked Alan what his next steps might be. In summary, he said : 1. "Do a CLF" ie put project on hold/leave. 2. Go to media with story of work done/efforts to date,{$200+ spent to date; MoE/Doe led AE work completed, including all additional deliverables requested since the original submission submitted a year or so ago. This triggered the published Nolan interview and the action plan announcement of the builder team, winter deep drilling, and all"shovel" ready plans already underway, for a dec/14 EW road start. {not the road from Martin FallS. 3. Legal action. I promised I would not say/blog anything until October 15, and had my last Coutts call late October to check any new status. Wynne continued to ignore her ministers' and her chief of staff. Coutts had private meeting with three key FN Chiefs scheduled in TB "next week" with the minister suggested strategy of "carving out" the EN project and gaining Ea and permitting approval to enable EN winter road completion, materials movement and the announced new deep drilling program (known targets). I have many pages of notes, but am going with a memory summary for now. Alan asked me if I had any ideas. He took particular note of the following:-- go directly to the Feds to secured Fed ministerial commitment ( Rickford meeting was already scheduled) /funding /Ae approval/ permits. These in hopes of shaming Wynne into action. A potential winWin, (no pun intended). It was hoped that this might be scheduled for a already planned Ottawa mining conference. I don't know if this Rickford meeting happened, but there had been quite a few already, and Fed access is not a problem, particularly with the DOE-led /MoE already technically approved eApermit. One more thing. The permit to build the road from Matin Falls to EN was agreed to by the MF FN at least two -three weeks ago. MF would act as the permit proponent with MF Based contractors to would build the winter road, and NOT would provide the money. Prior to this , with great Wynne fanfare and pr's all 6+ Ontario ministers wre required to sign letters (posted here by BABJAK ), professing and ordering unfettered inter ministry coopereration to facilitate everything related to getting the RoF infastructure built. About a week or two after this photo op, Coutts told me that the min of environment had nixed the MF permit request because of another FN concern/objection due to interference with caribou travel. Everything stopped. I cannot print Coutts reaction / disappointment. Globe excerpt today:-- The oil slump is giving Canadians a long-awaited break at the pump, but is a worry for the country’s energy future. Since new oil sands projects are expected to have per-barrel costs of $80 or higher, they may no longer make sense, and the country may need to look to other sectors for new economic drivers. G&Mail dec 13/14 Peter Sent from my iPad
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