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: Essar Steel Algoma new owner finalizing new agreement
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Translated from french......

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http://ici.radio-canada.ca/nouvelle/1036512/lacierie-essar-steel-algoma-change-de-nom

Essar Steel Algoma plant changes its name

PUBLISHED TODAY AT 3:12 PM
Essar Steel engraved in a rock at the entrance of the plant in Sault Ste. Marie. Photo: CBC / Natacha Lavigne

Since Monday, Essar Steel Algoma is now called Algoma. The company that went under the Companies' Creditors Arrangement Act in 2015 is undergoing a process of restructuring, hence the name change.

According to communications officer Brenda Stenta, a new owner is finalizing the terms of a new agreement.

This is the American company Monitor which specializes in the construction of steel infrastructure.

The new image aims to give a new lease of life to the company.

The Essar Steel Algoma plant in Sault Ste. Marie, Ontario Photo: Radio-Canada / Natacha Lavigne

"Algoma has always been part of the name of this steel company since 1901, in various forms. And it's perfectly acceptable to maintain this relationship with the community and the region that bears that name, "says Ms. Stenta.

Algoma has more than 2,700 workers in Sault Ste. Marie.

Until the restructuring has been completed, the steel plant will be called Essar Steel Algoma, for legal and financial reasons, says Stenta.

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