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: Re: Poll Results...Questions and Surmising
7
Sep 25, 2019 05:52PM

I have a question: If Noront does decide to choose Timmins, over Algoma, as the site for the FPF, will they be entitled to cancel the issuing of the 750,000 shares promised in the Algoma deal ?  Part of me is hoping Noront had established a clause in their agreement with them.  Whereby the leasing agreement will become null and void should the people of SSM refuse to allow the FPF to be built.  I know the SSM public are for the most part opposed to something they have yet to understand and appreciate, but in the same token our company should have expected this sort of opposition from the start.  I just hope Noront has factored this escape clause into their agreement with Algoma, and that they have an out in case the public overturns this decision. 

Part of me can't help but find it odd that not until now has this degree of opposition ever come to light. At least, I don't recall such opposition before having been published.  I would expect that both companies are fully aware that this deal of theirs could possibly fall threw due to the anxieties over chromium 6 and it's effects on  public health. Eventhough, I am sure they are equally ready to show the public the steps they will be taking at the FPF to ensure that it will not pose a risk to the public. Even so, if by educating the public they do manage to sway this public votes of opposition, I still think both companies should also be ready to tear up their contract if things go sour.

  But, again, will this mean forfeit of the shares given, or does the pre-arranged hold on the issuing of these shares give Noront the power to rescind them should the public quash the FPF? What would the most likely scenario be, since we are not privy to the deal.

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