27th January 2015

NEWS RELEASE: KWG Subsidiary Canada Chrome Corporation Wins Leave to Appeal Decision That Consent Not Required for Use of the Claims Accessing Its Ring of Fire Deposits

TORONTO, ONTARIO–(Marketwired – Jan. 27, 2015) - KWG Resources Inc. (TSX VENTURE:KWG)(FRANKFURT:KW6) subsidiary Canada Chrome Corporation has received an Order of the Court of Appeal of Ontario granting leave to appeal the decision of the Divisional Court of the Ontario Superior Court of Justice released July 30, 2014. As reported on August 1, 2014, the Divisional Court decision ruled that CCC’s consent should be waived in an application for an easement to build a road over its mining claims.

Canada Chrome Corporation may now file its Notice of Appeal on or before January 30, 2015 and perfect its appeal thirty days thereafter, on or before March 2, 2015. The respondent, a Cliffs Natural Resources Inc. subsidiary, may then file its responding factum and compendium sixty days thereafter. A date for the hearing of the Appeal, by a three-judge panel of the Court of Appeal for Ontario, will then be assigned. The hearing date is expected to be fixed for early summer.

“We are very gratified that this issue will be revisited by the Ontario Court of Appeal”, said KWG President Frank Smeenk. “Many of our exploration industry professionals were left wondering how to protect their investors’ interests if claim-staking was no longer to be available for the exclusive exploitation of a discovery. We look forward to the Court of Appeal clarifying this issue, which goes to the root of Canada’s world-renowned mining laws and exploration industry leadership.”

About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG has also acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. Read the rest of this entry »

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26th January 2015

Acquisitions are vital for survival, Goldcorp chairman says – by Rachelle Younglai (Globe and Mail – January 26, 2015)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Goldcorp Inc.’s quest for new mines is a matter of survival, according to the company’s chairman. “The only way mining companies can grow is through acquisitions and the only way they can survive is through acquisitions. Sometimes, I’m not sure people outside the mining business appreciate that,” Ian Telfer said in a recent interview.

“You have to keep buying stuff or you shrink … When you get to the size that we are, you have to buy things that are considerable sized and the opportunities are limited,” he said.

Last week, the Vancouver-based company made a half-a-billion dollar all-stock offer for Probe Mines Ltd. for its gold property in Ontario. The site is near Goldcorp’s mine in Timmins, Ont., which will allow the company to use its existing operations to develop the mine.

Finding cheaper ways to dig up metal has become every miner’s mission amid persistently weak commodity prices. Goldcorp enjoys the status of being the biggest gold miner by market capitalization, while producing less than the world’s two biggest producers, Barrick Gold Corp. and Newmont Mining Corp. It has a healthy balance sheet and is one of the few gold miners that can use its shares for acquisitions. Read the rest of this entry »

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26th January 2015

News Release: Temagami First Nation and Pacific North West Capital Corp. Sign Memorandum Of Understanding For River Valley PGM Project, Sudbury

January 26, 2015 - Vancouver, BC; Pacific North West Capital Corp. (“PFN” and the “Company”) (TSX.V: PFN; Frankfurt: P7J.F; OTC Pink: PAWEF) is pleased to announce that the Company and the Temagami First Nation have entered into a Memorandum of Understanding (MOU) dated December 5, 2014 in relation to PFN’s River Valley platinum metal project, located 100 road-km east of Sudbury, Ontario.

The MOU is designed to promote communication and foster a mutually respectful relationship, whereby Temagami First Nation are adequately informed and can provide input on PFN’s plans for exploration and development activities to be carried out on River Valley. The MOU provides a framework for how the two parties will work together to address potential impacts on Temagami First Nation rights and interests and confirms Temagami First Nation support for the Project.

Chief Arnold Paul of Temagami First Nation commented by stating “Mining in n’ Daki Menan has entered a new phase, The MOU recognizes that Temagami First Nation must be involved in a meaningful way in resource development projects. We look forward to a mutually beneficial relationship with Pacific North West Capital Corp.”

Harry Barr, Chairman and CEO of Pacific North West Capital Corp. expressed the Company’s appreciation for the support and cooperation demonstrated by everyone involved. “We look forward to working with Temagami First Nation to ensure that the River Valley Project is advanced in the spirit of continued partnership, mutual respect and good faith.” Read the rest of this entry »

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26th January 2015

Liberals ‘on top’ of Ring of Fire, mines minister says – by Carol Mulligan (Sudbury Star – January 24, 2015)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

When it comes to working with first nations to develop framework agreements for developing the Ring of Fire and approving environmental assessments for projects there, the Liberal government is “absolutely on top of it,” says Ontario’s mines minister.

Northern Development and Mines Minister Michael Gravelle said the province is continuing its “good work” on framework agreements and advancing the development corporation established to design and build infrastructure for the Ring of Fire.

The interim part of the development corporation is in place, Gravelle said in Sudbury on Friday, during a visit to boost the campaign of Liberal byelection candidate Glenn Thibeault.

The next stage is bringing the province’s full partners on board, including companies with holdings in the Ring of Fire, 540 kilometres northeast of Thunder Bay.

Gravelle said he’s also looking forward to having more formal discussions with FedNor and Natural Resources Minister Greg Rickford about the federal government’s “full engagement, if not matching dollars related to the project.” Read the rest of this entry »

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21st January 2015

NOACC NORTHWESTERN ONTARIO ASSOCIATED CHAMBERS OF COMMERCE (NOACC) SUBMISSION TO STANDING COMMITTEE ON FINANCE & ECONOMIC AFFAIRS PRE-BUDGET CONSULTATION (January 20, 2015)

http://www.noacc.ca/

The Northwestern Ontario Associated Chambers of Commerce (NOACC) is the “voice of business” representing the interests of nearly 2,000 members from Kenora and Rainy River in the West to Marathon and Greenstone in the East. We appreciate this opportunity to outline our concerns on a number of topics.

Skills Gap

The Province needs to address the skills gap. Two major trends are creating skills shortages. The first is the aging of the population and the departure of baby boomers from the workforce. The Conference Board of Canada’s long-term economic outlook projects that by 2025, one in five Canadians will be 65 or older. The second trend is that jobs are becoming increasingly specialized, which in turn demands more educated and skilled workers. The evidence is clear that the rising shortfall of skilled workers and the growing mismatch between the skills required and those available has evolved into a skills crisis affecting both the Ontario and the Canadian economy. Funding is vitally important to address the training and skills needs of Ontarians in all sectors.

One area that needs further attention is the apprenticeship system – the Ontario system uncompetitive with other resource-based Provinces. Many skilled trades require 4 journeypersons to train 2 apprentices, which leaves both small companies and rural communities at a disadvantage and does little to address the growing shortage of skilled trades. We believe that the current ratios are too high and should instead be comparative to Alberta and Saskatchewan levels of 1 journeyman to 3 apprentices. Read the rest of this entry »

posted in Northern Ontario Politics, Northern Ontario Separation and Alienation, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 0 Comments

21st January 2015

Ring of Fire bogged down in bickering – by Len Gillis (Timmins Daily Press – January 21, 2015)

The Daily Press is the city of Timmins broadsheet newspaper.

TIMMINS – The much vaunted Ring Of Fire mining development is bogged down in bureaucratic studies along with bickering over where to build a new road, or rail link, to what is clearly the newest, richest and most promising mining development in Ontario so far this century.

That was part of the assessment offered in Timmins this week at an impromptu news scrum with federal Natural Resources Minister Greg Rickford, the MP for Kenora and the minister for FedNor. But Rickford also said he is still hopeful the project will blossom.

The Ring Of Fire refers to a massive deposit of chromite and other precious minerals located in the McFauld’s Lake and Webequie area, about 600 kilometres northwest of Timmins. Chromite is an important element in manufacturing stainless steel. The Ring of Fire area could become the largest chromite mining site in North America, a venture measured in the tens of billions of dollars.

The project involves KWG Resources Inc., which has about 30% of the Big Daddy property, and Noront Resources, which has the Eagle’s Nest project. They are the two major players involved. Both are Canadian. Another large company, Cliff’s Natural Resources, an American company, was supposed to be the big player in the development, but it pulled out last year, saying it could not get rights to build a transportation link, nor could it get infrastructure concessions from Queen’s Park. Read the rest of this entry »

posted in Northern Ontario/Canada Regional Media, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 1 Comment

20th January 2015

Industries urged to build trust with First Nations – by Len Gillis (Timmins Daily Press – January 20, 2015)

http://www.timminspress.com/

TIMMINS – One of the most respected legal minds in Canada told an audience in Timmins Monday that it is about time for mainstream Canadians to start showing more trust and respect to the Aboriginal community.

The Honourable Frank Iacobucci, former chief justice of the Federal Court of Canada and a former member of the Supreme Court of Canada, was speaking at a special lunch sponsored by the Misiway Milopemahtesewin Community Health Centre on Monday.

“I think it is the No. 1 societal issue facing our country, and that is the plight of our indigenous people,” he told the audience. Aside from being a renowned author, speaker and jurist, Iacobucci is also the man representing the Government of Ontario for negotiating with the Matawa First Nation tribal council for the Ring Of Fire project.

He spoke on the Ring Of Fire project only in passing, but he said it will have to be an example of the non-Aboriginal segment of our society treating First Nations and individual Aboriginals with more trust and respect.

At one point in his speech, he told the Timmins audience that resource companies need to include consultation and accommodating with First Nations. Read the rest of this entry »

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20th January 2015

Goldcorp buys Probe Mines’ promising gold project – by Lisa Wright (Toronto Star – January 20, 2015)

The Toronto Star has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

‘Feels like a new gold market,’ says analyst of the $526 million deal

Amid a struggling metals market, Goldcorp Inc. has struck an all-stock deal valued at $526 million to buy Toronto’s Probe Mines Ltd. and scoop up one of Canada’s most promising new gold discoveries in northern Ontario.

The friendly takeover gives the Vancouver bullion giant control of the highly-touted Borden gold project near Chapleau, Ont., about 160 kilometres west of Goldcorp’s century-old Porcupine mine in Timmins.

Shares in the Toronto-based junior explorer jumped 49 per cent after the Goldcorp announcement Monday that analysts say, among other recent industry acquisitions, signals new interest in the depressed gold mining sector.

“It feels like we are in a new gold market,” said analyst Barry Allan of Research Capital Corp. “It means we should see a lift on other gold assets if they are also well-located and high quality,” he said.

The price of gold has jumped 10 per cent so far this year after limping through a bear market that has rocked the cyclical industry since the heady days of its all-time high of $1,921 U.S. an ounce in September, 2011. Read the rest of this entry »

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19th January 2015

Goldcorp to Buy Ontario Mining Company Probe for $440 Million – by Judy McKinnon (Wall Street Journal – January 19, 2015)

http://online.wsj.com/home-page

Goldcorp Inc. said Monday it has agreed to buy junior mining company Probe Mines Ltd. in a friendly, all-stock deal valued at about 526 million Canadian dollars (US$440 million), expanding the Vancouver company’s presence in one of its core districts in Northern Ontario.

“This transaction is consistent with Goldcorp’s long-standing strategy of securing growth opportunities in and around our existing districts with a focus on low-cost, high-quality gold production,” Chuck Jeannes, Goldcorp’s chief executive, said in a statement.

Toronto-based Probe Mines’ key asset is the Borden Gold project, a deposit minable through conventional underground methods and located west of Goldcorp’s Porcupine mine in Timmins, Ontario.

In an interview last week, Goldcorp Chairman Ian Telfer said the company is constantly looking for mergers and acquisitions. Unlike many other industries, mining companies need to grow through acquisitions because their assets are constantly being depleted and gold mines in particular tend to have shorter lives than other types of mines.

Companies the size of Goldcorp can’t rely on exploration to replace all their assets; larger mining concerns have a patchy record with exploration. Read the rest of this entry »

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19th January 2015

NEWS RELEASE: Goldcorp expands Porcupine district with acquisition of Probe Mines Limited

VANCOUVER, Jan. 19, 2015 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) and Probe Mines Limited (“Probe”) (TSX-V: PRB) today announced an agreement whereby Goldcorp will acquire, through a friendly plan of arrangement (the “Arrangement”), all the outstanding shares of Probe. The total consideration for the purchase is approximately C$526 million.

Under the Arrangement, each common share of Probe not owned by Goldcorp will be exchanged for 0.1755 common shares of Goldcorp. Goldcorp currently owns 8.4 million shares of Probe representing 9.3% of the basic shares outstanding. Based on the closing price of Goldcorp’s common shares on the TSX on January 16, 2015, the transaction values each Probe share at C$5.00. The consideration received by Probe shareholders represents a 49% premium to the closing price of Probe on January 16, 2015. The number of Goldcorp shares to be issued will be approximately 17 million based on the issued and outstanding shares as of the announcement date, but will be subject to adjustment depending on the number of options and warrants exercised under the Arrangement. The transaction is expected to close in late March, 2015.

In addition to the Goldcorp shares, shareholders of Probe will receive an interest in a new exploration company (“New Probe”) containing Probe’s mineral properties in the Ring of Fire in Northern Ontario, as well as C$15 million in cash and certain other assets currently owned by Probe. Goldcorp will own approximately 9.3% of New Probe following completion of the transaction and looks forward to supporting New Probe in the execution of its business plan. Read the rest of this entry »

posted in Gold and Silver, Goldcorp Inc., Ontario Mining | 0 Comments

19th January 2015

Noront eager to mine Ring of Fire ore – by Carol Mulligan (Sudbury Star – January 19, 2015)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

The head of Noront Resources is appealing to the provincial government to allow it to begin work developing its Eagle’s Nest nickel mine in the Ring of Fire while a plan to share resources with First Nations over the long term is developed.

Alan Coutts wants the province to give Noront the environmental approval it needs to start on its mine and all-weather road while an “over-arching” framework agreement is being negotiated with First Nations about resource sharing and related issues.

Noront isn’t asking for special treatment, said its president and chief executive officer during a visit to Sudbury.

It just wants the province to approve Noront’s terms of reference for the environmental assessment it submitted 2 1/2 years ago so it can keep and attract investors, reach impact benefit agreements with three First Nations near Eagle’s Nest and start mining ore.

Coutts was in Sudbury at the invitation of the Greater Sudbury Chamber of Commerce Ring of Fire Task Force to talk about the status of Noront’s project, why it is stalled and what he believes must be done to move it forward. Read the rest of this entry »

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6th January 2015

Mining: Tragedy, safety and Ring of Fire mark 2014 – by Staff (Sudbury Northern Life – December 31, 2014)

http://www.northernlife.ca/

The spring of 2014 was a sombre time for Sudbury’s mining community, marked by three tragic deaths. In April, Vale millwright Paul Rochette was killed by severe head trauma from a malfunction with an ore crusher.

The next month, two drilling contractors, Marc Methe, 34, and Norm Bissaillon, 49, were killed by a fall of material in First Nickel’s Lockerby Mine. Both men worked for Taurus Drilling Services.

The deaths highlighted the importance of province’s ongoing review of mining health and safety, which reached a high point in September with the release of progress report that made several recommendations.

Those included guidelines for bright and reflective clothing for workers underground, and health and safety training that focuses on six of the most common hazards miners face.

The Mining, Health, Safety and Prevention Review committee is expected to release its final report in the New Year. The ongoing standstill in the Ring of Fire was also a dominant mining story in 2014. Read the rest of this entry »

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19th December 2014

Natural Resources Minister Greg Rickford says Ring of Fire oversight body needs overhaul – by Peter Koven (National Post – December 19, 2014)

The National Post is Canada’s second largest national paper.

TORONTO – The Ontario government wants Ottawa to pony up $1 billion for the massive “Ring of Fire” mineral belt, but the federal natural resources minister is warning that key structural challenges still need to be overcome.

Foremost among these is the fact Ontario has stacked the four board seats of the Ring of Fire’s development corporation with nothing but provincial bureaucrats. They are responsible for overseeing infrastructure development in the region.

“We’ve got a problem with that,” Greg Rickford said in an interview. “That’s not a responsible way to deal with taxpayers’ money.”

The Ring of Fire, named after the famous Johnny Cash song, is a vast but very remote mineral belt located in Ontario’s James Bay Lowlands. The region is thought to hold about $60-billion worth of metals, but the federal and provincial governments need to overcome enormous infrastructure challenges to draw investment from the mining sector, especially in an environment of falling commodity prices.

Queen’s Park committed $1 billion to building infrastructure, and has waged a very public campaign asking Ottawa to match it through the federal Building Canada infrastructure fund.

“Your commitment to providing matching federal funding is key to strengthening investor confidence for development of the [Ring],” Ontario mining minister Michael Gravelle said last week in a letter to Mr. Rickford. Read the rest of this entry »

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17th December 2014

Funds available for grassroots exploration projects – by Ian Ross (Northern Ontario Business – December 17, 2014)

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business ianross@nob.on.ca.

It’s a grim market reality for mineral explorationists trying to raise capital for their projects. But there’s one tool available to help prospectors at the grassroots levels with their costs in working their claims.

The Ontario Exploration Corporation (OEC) is a for-profit entity overseen by the Ontario Prospectors Association that allows successful applicants to access as much as $85,000 to fuel their work.

The OEC was established in 2002 to invest in mining lands that may produce prospects with high economic potential. The three-phase program delivers financial assistance in exchange for a royalty on the lands, up to 1.5 per cent net smelter return, which prospectors can buy back up to 11 years after receiving the funds.

The net smelter return (NSR) refers to revenues expected from the mill feed, taking into consideration mill recoveries, transport costs of the concentrate to the smelter, treatment and refining charges, and other deductions at the smelter.

That hitch isn’t always popular in the prospecting community, said Garry Clark, executive director of the Ontario Prospectors Association (OPA), who admits the program is underutilized. Read the rest of this entry »

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17th December 2014

Ring of Fire Bogging Down? – by James Murray (Netnewsledger.com – December 17, 2014)

http://www.netnewsledger.com/

Ring of Fire Being Frozen in Ontario Ottawa Ice Storm?

THUNDER BAY – BUSINESS – The Ring of Fire is a major mining project that has the potential to make a massive impact across Northwestern Ontario. That potential has taken a number of hits over the past several years. Initially, Cliffs Natural Resourses, KWG Resources, and Noront Resources were the large players in the region. The Ring of Fire often is discussed for its huge chromite deposit potential. There are of course other minerals in the Ring of Fire, nickel being one of those minerals.

Last January, Cliffs Natural Resources pulled their camps out and left the Ring of Fire in a physical presence. More recently, Cliffs is stating that they don’t think it is possible for the project to actually happen in the next half century.

The Ring of Fire presents an opportunity for Canada, for Ontario, and for First Nations. Right now that project is in effect moving far slower than business would like it to move.

Relations Between Ontario and Ottawa Chilly at Best

Part of this appears to be an ongoing impasse between Prime Minister Stephen Harper and Ontario Premier Kathleen Wynne. A few weeks ago, the Premier wrote the Prime Minister expressing that December 5th marked the one year anniversary of their last meeting. There appears to be a level of ice in the relationship between the PM and the Premier thick enough to safely drive a transport truck over. Read the rest of this entry »

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