RE: RE: RE: RE: Cliffs endorses RRThis article certainly has a nice "warm & fuzzy" feel to it, particularly that Cliff's and KWG appear to be realigning their interests again. But there were a few points made that I thought were not so positive.
KWG and Greenstone jointly submitted their project plans just under the wire of the funding agency's June 30 deadline, its third annual proposal call.
Lisa Mitchell, a spokeswoman for P3, said it's difficult to give a timeframe on how long it takes from the application to the formal announcement stage given the paperwork involved.
All three projects that have received funding so far came from the first round of proposals. “We hope to be making Round 2 announcements in the coming months.”
This would seem to indicate KWG can expect to wait over a year for an answer?
But KWG is not putting all its eggs on one basket.Lavigne said the biggest chunk of change will come through Revenue Canada where KWG is working to obtain an advance ruling to raise railroad money from flow-through shares.
“We think we can raise three-quarters of a billion dollars.”
Really? WOW!
Initially, First Nations would have partially ownership, but eventually the corporation would be theirs to run.
“We're serious about giving the First Nations control over the logistics delivery to the Ring of Fire,” said Lavigne. “But it takes a long time for the First Nations to wrap their minds around it, that there's a big gift sitting there for them.”
Is he saying they're eventually going to GIVE the First Nations CCC?
Comments?
TW