Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Re: MOU

Noront Resources

about 15 years ago

Most of these MOUs are not onerous on the companies and especially not for those at the exploration stage. Most of these agreements outline that the company has a responsibility in the area of using the local First nations as contractors where possible (line cutting, logistics, catering etc), as employees, a duty to consult and binding requirements on the environmental side. As projects go to production the agreements almost always specify participation in employment, development, and training (usually jointly with the government), representation in decision making and clear development and reclamation parameters.

First Nations would love to see a royalty type agreement but to date I haven't seen that except on reserve lands.

Bottom line is that anyone that works in the resource sectors knows that First Nations have significant rights and controls and need to be dealt with and managed as with any other party. It's a fact of life. Hence NOT being proactive should be viewed as a positive step.

... Been There