Tuesday 11th August 2020

Resource Clips

Week in review

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Stretch responded, “These rules result in a total transfer of all natural resources to the control of hostile third-party governments. It is my opinion that Canadians must do everything possible to stop this ill-conceived race-based initiative.”

He repeated his remarks about “hostile third-party governments” at a November symposium of the Ontario Prospectors Association in Sudbury, according to Northern Ontario Business. He further angered native participants by displaying a “racist” cartoon. Two native chiefs denounced the OPA and an Ontario group called Miners United as “racist and radical.”

Solid Gold Resources

An Ontario judge granted Solid Gold Resources leave to appeal a court-imposed suspension
of drilling.

Northern Ontario Business quoted OPA executive director Garry Clark saying, “I wasn’t exactly happy with what [Stretch] was saying but it was his point of view.”

According to the March 27 Globe and Mail story, Clark said some native bands charge companies per drill hole, or per metre of drilling, in confidential deals that often surpass $100,000.

A November 23 Northern Ontario Business story said the Wahgoshig band has “three impact benefit agreements so far, with others to be finalized in the near future, and has 17 memorandums of understanding.”

The article quoted Wahgoshig chief David Babin, “We have other agreements with companies and we are workable. When companies work with First Nations, they start to understand the value of where we come from. We are not totally against development.”

Northern Ontario Business added, “Babin said if Solid Gold came under new ownership, his community would be willing to meet.”

Greenland open to foreign investment, foreign labour

Mining legislation passed by Greenland on Friday will make it easier for foreign companies to import workers for new mines in the semi-autonomous country, according to a Reuters story. The new law defines large-scale projects and sets a minimum wage for foreigners that critics say will undercut local rates.

Considered resource-rich but relatively unexplored, Greenland has attracted considerable global attention in recent years to its base metals and rare earths potential. About $100 million was spent on mineral exploration last year, Reuters stated.

One of the larger players prepared to take advantage of the new legislation is the British company London Mining, which has a $2.3-billion iron ore project near Nuuk, Greenland’s capital of 16,000 people on the southwest coast. London Mining hopes to attract Chinese investment, Chinese markets and Chinese workers—some 2,000 of them, which would increase the island’s 57,000 population by over 4%.

According to a November 5 Reuters dispatch, the country currently has just one operating mine, a gold producer.

They all say that

Energizer Resources TSX:EGZ pulled off two praiseworthy feats on Monday. The company released an impressive maiden resource for its Green Giant graphite project in Madagascar. And it refrained from its usual boast about the world’s largest deposit.

To give the company credit, statements were qualified with conditional words like “would be,” “anticipates,” and “looks to be” when referring to its Molo deposit as the largest-known graphite deposit in the world.

Energizer’s new-found humility may have resulted from Venture exchange newcomer Mason Graphite TSXV:LLG. On October 30 Mason corporate development officer Simon Marcotte told ResourceClips that the company’s upcoming resource estimates for Lac Guéret in Quebec will show “not only the highest grade of graphite in the world but also the biggest deposit by far—no two ways about that—by a very significant margin.”

Just as Energizer released its first graphite resource on Monday, Graphite One Resources TSXV:GPH did the same for its Graphite Creek project in Alaska. But Graphite One sounded a bit like the Energizer of old: “Based on the size of the resource, flake content and potential, we believe this to be the largest reported flake graphite deposit in the world,” said Graphite One’s news release.

Had enough bragging yet? Then skip over this October 11 statement from Ontario Graphite, which said the company is “well-positioned with the largest confirmed graphite mineral resource in North America.”

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