VANCOUVER — Noront Resources (TSXV: NOT; US-OTC: NOSOF) has emerged as a leader across the Ring of Fire region in the James Bay Lowlands of Northern Ontario, and it has a long term plan in the works it hopes will establish a world-class nickel sulphide and chromite camp in the region.
The company is knows it won’t be a quick process, but a commitment to social license and First Nation partnerships could lead to successes where larger companies have failed.
Noront made headlines in late March when it acquired 103 claims in the Ring of Fire from beleaguered U.S. base metal miner Cliffs Natural Resources (NYSE: CLF) for US$20 million. The deal was financed via a US$22.5-million loan agreement that saw Franco-Nevada (TSX: FNV; NYSE: FNV) pick up a 3% royalty on the Black Thor chromite deposit and a 2% royalty on Noront’s properties in the region with the exception of its advanced stage Eagle’s Nest nickel platinum group metals project.
Read the complete article at NorthernMiner.com/news/noront-ceo