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: Reigniting the Ring of Fire

Do you see the cost of native demands in the feasability study anywhere? The assumption is that the government will pay for the native demands but what if they won't? then Noront will have to if they expect to be allowed to mine. If that gets calculated in, it will render the deposit uneconomical. The feasability study also assumes the government will pay for a road most of the way to the ROF, if Noront had to pay for the road that alone would render the project uneconomical. So my point is that the private sector cannot develop the ROF without government assistance or with all the strings the natives have attached to any development.

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