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: Eagles Nest

Noront Resources

almost 9 years ago

in response to Edgy's message

Hi Edgy. Here is the reasoning to my thinking.:

To finance the transaction, Noront returned to its backer, Franco-Nevada, for an amended loan of US$25 million for a five-year period at 7 per cent interest rate. In return, Franco-Nevada receives a 3 per cent royalty over the Black Thor and a 2 per cent royalty over the rest of the properties, except for Eagle’s Nest, Noront’s wholly-owned nickel, copper and base metal deposit. Noront also receives $3.5 million from Franco-Nevada as part of the royalty agreement.

I bolded for reference. Franco-Nevada is in this for the Royalties on Chromite. Eagles Nest doesn't make them any money, and frankly the idea that Chromite is not a priority right now is a political smokescreen intended on squeezing out the little noisy neighbour, KWG. News of KWG partnering with the Chinese to build rail (or at least assess the idea) and including affected first nations in the process, most definitely has put a wrench in the Libs plans to stall this project.

Hey, its just speculation on my part of course, i could be wrong.