KWG Resources Inc C.CACR

Now this is important!

[ETalien]

2022-11-03 07:33 ET - In the News

Also In the News (C-LITH) Lithium Chile Inc
Also In the News (C-ULT) Ultra Lithium Inc

The Globe and Mail reports in its Thursday edition that Ottawa is ordering Chinese state-owned companies to immediately divest their interests in three Canadian critical minerals companies. The Globe's Niall McGee and Steven Chase write that the government's order marks the second time in a week it has taken a more aggressive stand against China, after allowing it to acquire a Canadian critical minerals company earlier this year amid little scrutiny. Mining is one of the most capital-intensive industries on the planet, and historically it made sense for Canadian miners to turn to China as a source of financing, but in recent years China has emerged as a clear national security threat. The federal government said it made its decision after consulting the security and intelligence community saying Wednesday that Sinomine (Hong Kong) Rare Metals Resources Co., Ltd., Chengze Lithium International Ltd. and Zangge Mining Investment (Chengdu) Co., Ltd. must sell their stakes in Power Metals, Lithium Chile and Ultra Lithium, respectively. The Globe notes that the crackdown includes not only critical minerals mines that are located in Canada, but also projects held abroad by miners based in Canada. 

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[startenout]

Yes, i thought so to, even though it has nothing to do with KWG. ( except maybe thls old news https://www.northernminer.com/news/kwg-resources-turns-to-china-for-help-in-ring-of-fire/1003751315/ if this iron is anywhere near the fire anymore. Thats why i posted it yesterday ET.  But for face value news , I believe this is important for Canada. 

[ETalien]

Yes, I saw that. I'm surprised the big guns here on this board would have commented. Personally some of them can't be trusted! One has to wonder, they show up when KWG stock is being heavily traded and never when it's on idle mode!