Fess up"The Company's mining and exploration activities are subject to laws and regulations governing the protection of First Nations' rights. These laws and regulations are continually changing and generally becoming more restrictive.
"At a meeting held in January 2012, Northern Gold and the Wahgoshig First Nation decided that, given the current state of exploration on the Golden Bear Project, the parties would begin
negotiations of an Exploration Agreement and subsequently an Impact Benefits Agreement."
That was 1 1/2 years ago. There has been no disclosure of an agreement to date. There is a problem here so it will be good for the company to continue with forthright disclosure on this subject as referred to in the Quarterly.
"Northern Gold continued its efforts regarding the submission of a Closure Plan for the Jonpol Project. A Consultation Plan was submitted to Ontario on February 8, 2013 and a public meeting was held with Wahgoshig First Nation (WFN) on March 8, 2013.
"NGM submitted a revised Consultation Plan to Ontario on March 28, 2013, and is awaiting a response to indicate when the Closure Plan document can be submitted for review.
"The Company's mining and exploration activities are subject to laws and regulations governing the protection of First Nations' rights. These laws and regulations are continually changing and generally becoming more restrictive.
"The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations."
NGM management and consulting fees increased by $1,627,678 in the year due to "adding valuable management and consultants.
"Included in these fees are severance payments of $542,000 to a Director and officer, who resigned as President and CEO and was subsequently re-appointed as President and CEO. In addition, severance payments of $79,000 to former officers and $50,000 to former Directors."
Answers to some of the questions arising from the above matters must come from management.