Firm gung-ho on Ring of Fire – The Chronicle Journal
June 5, 2015
Noront Resources says it expects to have a strategic plan and a preliminary economic assessment regarding its recently acquired chromite deposits in the Ring of Fire by early next year.
The Toronto-based mining company announced Wednesday it will borrow an additional US$2 million to advance exploration on its RoF properties, including its proposed Eagle’s Nest nickel mine.
The loan is with Denver-based Resources Capital Fund (RCF), the same investment firm that earlier loaned Noront $15 million for work in the RoF.
“Noront is pleased that its largest shareholder (RCF) is supportive of its ongoing work plans, said a Noront news release.
