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Interesting thanks Robert!
Monday, June 11, 2012
MONTREAL, QUEBEC--(Marketwire - June 11, 2012) - KWG Resources Inc. (TSX VENTURE:KWG) and Cliffs Natural Resources have now had an opportunity to consider the results of the smelting test conducted with part of the bulk sample recovered during last winter's drilling program at the Big Daddy deposit. The test confirmed that the sample can produce a marketable charge chrome grade of ferrochrome product with relatively low energy consumption. However, the test experienced less than ideal conditions in the newly installed pilot plant at the Xstrata Process Support Services facility at Falconbridge, Ontario. A large portion of the bulk sample, crushed to size, remains available for further testing. Options for such further testing will be discussed when the parties meet this month to evaluate plans for further programs for the Big Daddy partnership.
About KWG: KWG has a 30% interest in the Big Daddy deposit. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario where the Trans Canada line of the Canadian National Railway can be connected.
The real news from this announcement is that cliffs is sitting down with kwg this month. If they were not interested in kwg , or the votes or the mining of big daddy they would twist kwg in the wind for 40 years. Instead cliffs hired international lawyers 2 months ago and probably found out from them that kwg will win the easment dispute making cliff sit down with kwg this month and really negotiate. Expect big things to happen before the commisioner of mines deceides the matter . There is only one way in and one way out and cliffs may wait too long to acquire the corridor. The natives may take it and cliffs might get shut out and the chineese may come in and fund and consolidate the ring. Cliffs is sitting with kwg this month. Not just to talk furnace results on a mine they say is not in thier feasibility study. -WHY- !!! Cliffs time to step up or be pushed aside.
Kwg sent recent drillings away to update 43-101. This will increase resource estimates just as provincial government and federal governments will make announcements about infrastructure effecting share prices of kwg and all mines in the ring of fire area.
Cliffs has now moved the chromite project to feasibility. The provincial government is commiting to infrastructure. Cliffs states thier timeline for mine openning is on tract for 2015. Cliffs has commited to building thier smelter in sudbury ontario canada. Cliffs has said they are going to commit 3.3 BILLON DOLLARS to this chromite project. This stock is about to pop as soon as the commitments are sighned.
kwg now is a joint venture partner with cliffs on the big daddy project. As cliffs bought out the third partner spider, this gives cliffs the majority vote each year to establish themselves as operator of the project site ongoing.. More importantly right now is the fact that cliffs is late in reporting drillings that will probably at least double the resource holdings of big daddy ore body. Cliffs is also late and as yet withholding (real world furnace testing) of the big daddy ore body affirming earlier lab testing that proved big daddy ore as the best quality and cheapest to process in the world. These tests were done and finished in february of this year and reports of the same testing should have been completed within two weeks later by middle of march. KWG is activley waiting for cliffs as project operator to report to kwg these results at which time kwg will make suitable announcements on joint venture and all drillings and testings. Time is closing in on cliffs as they are legally responsible to report . Is cliffs withholding info as long as possible to see the outcome of thier court fillings on the corridor? Is cliffs withholding info to help keep kwg shareprice down while awating court deceisions to see if cliffs has to buyout kwg or come to agreement with kwg on the corridor and big daddy ore !!! How long will canadian law allow cliffs to withhold pertinent info that will effect a canadian companies shareprice that cliffs is actively involved with? What are the possible legal ramifacations if cliffs is found guilty of withholding pertinent information to actively control a canadian companies' shareprice? Under canadian law what can a canadian company expect if it can be proven a foriegen company is unlawfully effecting a canadian companies ability to do business?? Any lawyers opinions welcomed...
Here we go!!! Cliffs has shown thier hand finally about kwg corridor. They need it they want it!! Whithin a few weeks this will come before the canadian mining commissioner because kwg says NO to cliffs... Cliffs will then find out they will have to negotiate with kwg finally... This will happen because kwg feels very confident legally that they have the right to refuse cliffs. I have this from kwg direct. If cliffs wants to use our corridor they will have to mine big daddy and either buy us out or mine kwg ore under a joint venture. No ore moves without kwg corridor. Cliffs will have to move this to a conclusion very fast or they will have to push thier timelines back by years and have to explain that to thier shareholders and board. We are right in the middle of the games time and it can only mean our board is fighting for the shareholders. Give them our support, give them our vote...
The purpose of the voting is to create 3 different shares. The first is the regular shares we all own now. As we all know the price of these shares are undervalued and have quite possibly been kept low from manipulation. This is the reason to create the second type of share : the 50 to 1 share. As institutions and large funds or big brokers do not buy usually in penny stocks this 50 to 1 share is to be created to give these same investors room to invest in kwg . Doing this will create supply and demand from large investors probably moving this stock higher. Moving this stock higher will also move the regular share stock higher also because the possibility of converting them to the 50 to 1. There absolutely will be no dilution of the share structure because there will be no new stocks created outside of the existing stocks. Just more buyers that will want to buy kwg moving all the shares higher. Something cliffs does not want to happen. The other share called the SPECIAL share will be created for one reason and that will be to get the funding for the railroad moving forward after a joint venture is consumated april first. This special share will be issued through canada chrome corp that controls the railroad. Once the joint venture is done and the railroad funding starts the only way the share price of the regular and 50 to 1 shares will go is up, way up. Big investors in a guarenteed joint ownership and the rail to move the biggest and best chromite mine in the world.That will be a lock controlled by kwg insuring nobody moves chromite without kwg chromite being mined moving all our stocks up. As for surface rights on the corridor: kwg owns them under mining rights and cliffs would have to go to court to try and expropriate them to use as a road.Good luck, That is a court case lasting longer then it would take to build a railroad. Make no mistake, cliffs does not want this share structure in place because it will move the stock up out of thier control. They will have to pay more, fast , or lose 1/3 of the mine to big investors. Remember the railroad and canada chrome corp is owned by kwg. As the special shares move the rail forward the regular kwg shares move up with it. The special shares may give a divedend on some of the profit but the rest of the rail profit will go to kwg and thier shareholders moving the kwg shares up again. Moving head office to ontario is a no brainer because that will save kwg alot of money instead of holding two offices and reporting in french and english and all the costs that go with it. The canadian government 3ppp money of $496,000,000 is still avaliable but can only be released when the railroad is shovel ready. Again that is why the special shares will push the regular shares up because big instutions who invest in special shares know when the rail gets funded and moves forward the government is going to kick in big money. No dillution, instutional investors, moving the railroad forward, fast tracking the project all moving the regular stock up! --- Better vote for what kwg is saying in thier circular proxy. ---
Sounds like someone is ticked they didn,t buy.. They also haven't read these posts to see everyone is holding thier stock for a joint venture that is consumatted April first 2012.
If there ever was a DEAD STOCK, it's KWGBF. Zero interest and Zero Volume, Zero Profit.
Buyer Be Ware, this is a DEAD STOCK
:)
kwg has spun out debuet diamonds and those shares are now in everyone's accounts for free... Now we wait for kwg to be bought out by cliffs resourses or on april first cliffs and kwg are forced to joint venture . Either way kwg goes up big time. If you have friends tell them to load up on kwg for this.. I believe this will be a 4 to 8 times investment profit in either event.
Selling dd stock???
posted on Dec 13, 11 04:14PM Use the IP Check tool [?]
A double post but pertinant to kwg shareholders as well that may be thinking of selling dd stock!!Debeers Victor diamond mine is right next door to the diamond volcanic vents that debuet diamonds own and have found commercial sized diamonds in thier initial drilling cores. Debeers has told kwg that a bulk sample of these vents would be processed by debeers for debuet diamonds at cost. Debeers has stated that they need to find more vents to extend thier mine life.These vents owned by dd are right next to debeers. Debuet diamonds is going to drill a bulk sample this winter for debeers to process. If as expected the sample is good that means a joint venture between debuet diamonds and debeers. All mining equipment and processing equipment is allready at debeers site that is so close to debuet vents that a short delivery road is all that would be needed to carry on diamond mining. Permitting and enviromentals would be the same as the existing debeers mine.On completion of a joint venture within 2 years debuet stock would go from cents to dollars very quickly.. A BEAUTIFUL BUY AND HOLD.. Debuet diamonds has been listed on the canadian cnsx and will comence trading in a few days.
Blood diamonds are from africa not canada. You better read the posts here before you post without merit or a basis of fact. All the posters here are informed...
Debeers Victor diamond mine is right next door to the diamond volcanic vents that debuet diamonds own and have found commercial sized diamonds in thier initial drilling cores. Debeers has told kwg that a bulk sample of these vents would be processed by debeers for debuet diamonds at cost. Debeers has stated that they need to find more vents to extend thier mine life.These vents owned by dd are right next to debeers. Debuet diamonds is going to drill a bulk sample this winter for debeers to process. If as expected the sample is good that means a joint venture between debuet diamonds and debeers. All mining equipment and processing equipment is allready at debeers site that is so close to debuet vents that a half mile delivery road is all that would be needed to carry on diamond mining. Permitting and enviromentals would be the same as the existing debeers mine.On completion of a joint venture within 2 years debuet stock would go from cents to dollars very quickly.. A BEAUTIFUL BUY AND HOLD.. Debuet diamonds has been listed on the canadian cnsx and will comence trading in a few days.
Spinout of debuet diamonds complete. Free shares of 6 dd shares for every 100 shares of kwg owned. Too late now to get any more free shares.
Oh, oh, big mistake. Day of record is december 15th not november. Sorry for any inconvenience. Means there is still time to load up. Good luck to all.
Kwg today announced the day of record as november 15 this month to be eligable for free debuet diamond shares . On 15th 6 shares given as a divedend for every 100 shares of kwg owned. ddi shares will open around .35 cents a share. Still time to load up before the day of record on the 15th. good luck to all who read this. --- Robert ---
Robert,
Based upon your posts I am in with KWG. Thanks and I will likewise share d/d.
To Rodman:
Read the posts listed here and you will gain the knowledge you need. Then if you need more answers just ask and i will answers.
I'm new would that be a buyout of KWG you refer to? And by whom? Thx,
rod the newbie!
Guess who is drilling on big daddy minesite for metalurgy tests. Cliffs is! Showing thier hand that is. Buyout offer by january??
kwg announces listing of diamond company debuet diamonds and statement confirming free shares to kwg shareholders on day of record yet to be set in near future.For every 100 kwg shares a divedend of 6 free shares of debuet diamonds to be given.kwg is at .07 cents presently and debuet diamonds to be listed at .30 cents a share. Load up on kwg now and the profit from free shares is close to 25% for just a few weeks hold.A good deal to all who read this...
Yes you are, because i am just an investor that does good due dilligence. My posts are based in facts and have merit. Do yours??
Think I'll ask here what I asked on Stockhouse: Would any KWG pumpers care to identify themselves as members of the KWG board of directors? Aren't I a big silly to ask such a question?
Do your own dd!
So why is KWG .09?
every thing i have written about kwg is fact as you can see by my posts. Your postings on the other hand, have no merit or basis in fact. They are just rants. Here is more for you : Demathieu and Bart a construction company has just finished building 4, 20 megawatt dams in northern ontario. They are now building 4, 5 megawatt dams and are bidding on a 100 megawatt dam to start construction. Now we have the largest and best chromite ore body in the world, a railroad proposal and license for a shortline railroad applied to the canadian government and construction of at least 200 megawatt dams in the vicinity. A lot of government permissions and money (government and private)going into making this mining area of the ring of fire supporting at least 5 major world class mines. Cliffs home page site also confirms thier commitment to have thier mine producing there by 2015. Billons of dollars going in there to make this happen, but you allready know this ,so, i have to wonder at your motives . I read on other sites of stockhouse and agoracom and have found your posts there to be highly based on rants and not facts. You even post under many different avatars. Why?
Everything you write is highly speculative. I seriously doubt if CLF cares about the ROF now. imho CLF management is more interested in a possible buyout offer for CLF. If this proves out, then everything you've written about KWG will be proven wrong
Arguably one could say the nsr rights would be better protected going into debuet diamonds but we must remember we got six years of nsr money now, to use now. We do not have to wait 3 or four years for the mine to start giving us revenue that would take another 6 years to equal what we got now. A bird in the hand that can be used to increase share price above the 2 to 3 cents the nsr is worth right now before cliffs buys us out. Time will tell if we use this money to increase our share price before cliffs makes thier offer. Anyway two steps before cliffs makes thier offer is now complete. The rr is the next and i believe the final step which may be when the 3p application is formally excepted by the government, possible in sept. The flow through shares tax rulling has been resolved . This puts the rr in the last spot before a buyout. 18 millon for the nsr rights is a good bird in the hand that can make us much more money within the next nine years with joint venture partners even after cliffs buys our chromite. Good luck kwg longs.
Tarquin: Your rants only prove you unreliable without a bases in merit or fact.
Do not go to agoracom. It's been fined by the Ontario Securities Commission for its activities. Not a single post on it is trustworthy. Should have been forced to close down by the OSC imho. Anyone telling you to go there is suspect imho.
Robert:
There is over a 6,000 shareholder base at present and growing.Go to agoracom to read good due dilligence on this stock.
Avord KWG and KWGBF. Just scams imho
Hello this is Robert here,
I have got the newsletter from KWG Resources (KWGBF) and it seems to be profitable so i want to know is there anybody who have already invested in KWG Resources (KWGBF)....?????
No one pays me, airhead. I just think KWG is a really bad company. I even like URP, a 2 center in the JBL, better. But it's your money, go for it.
And just to top it off:
That may be : but that was before the biggest and best chromite find in the world has been found and comming to life under the hand of Frank Smeek. Debuet Diamonds two kimberlights that had initial core drillings found commercial sized diamonds in those cores. Very rare. Debeers victor mine is beside these diamond finds by kwg. Debeers has stated they need to find further diamond kimberlights by 2012 to insure thier own mine's life. I wonder how much they will pay kwg for the diamond kimberlights kwg has found? Debeers has already offered kwg to process a bulk sample from these kimberlights for cost. -- Interesting -- Think they might want to buy. If they are i wonder what the shares of debuet diamonds would be worth then. Or what will they pay kwg for these kimberlights if kwg monetizes them. A goodly sum which could be used to mine any of the other 32 kimberlights dd controls. DD will be drilling a core in each of these other 32 kimberlights this summer to see which will make a mine they can bring to life, if not the ones that allready show diamonds in thier cores.
Here is a six reason:
Tarquin: you have been on agoracom and stockhouse and have had all your answers more than fullfilled. You were run out of some blogs using some of your other basher id's like f16 hornet , insidapic, tarquin 1,2,3,and 4. Someone pays you to bash so new uninformed stockholders will get nervous from your rants and sell while someone big just vacumns them up. We are on to you...
Here is a fith reason:
KWG'S Canada Chrome Corp Files Registration As Shortline Railway Operator
July 7, 2011
Montreal, Canada, July 7, 2011 - KWG Resources Inc. (TSXV: KWG) subsidiary Canada Chrome Corporation received formal acknowledgement from the Registrar of Shortline Railways of receipt of its application for a licence to construct and operate a shortline railway under Ontario's Shortline Railways Act, legislation which governs provincial railways in Ontario.
"This is one small step in a long journey", said Canada Chrome Vice-President Bruce Hodgman, "but it is a seminal one and we look forward to working with Ontario and its railway regulators on moving forward our proposed Ring of Fire Railroad".
Here is a fourth reason:
Big Daddy Metallurgical Testing Completed
Montreal, Canada - June 10, 2011 - KWG Resources Inc. (TSXV: KWG) has received the final report from Xstrata Process Support on its Big Daddy chromite metallurgical testing. The report confirms that the samples collected from four bore holes of the Big Daddy chromite deposit are amenable to refining at relatively modest energy consumption resulting in high yields of refined ferro-chrome product. The report observes:
"The results indicate a material that is highly reducible considering its high chromium content and which, during smelting, produces a high grade alloy at high chromium recovery, providing essential operating parameters are satisfied.
Analysis of the smelting results indicates that a reductant requirement of at least 19.5% Carbon equivalent is required to ensure optimum chromium recovery. The smelting is somewhat less sensitive to the flux addition rate, but 9% CaO equivalent is considered the safe minimum. Smelting temperatures of 1625-1650°C appear optimum for best results.
Under conditions such as those summarised above, the Big Daddy ore can be expected to return chromium recoveries of 92-93% into a high carbon ferrochrome alloy grading around 58-60% Cr, with 6-8% C, 1% Si and the balance iron.
Smelting power requirements, while subject to issues such as operating conditions, furnace configuration and size and selection of process technology, are relatively modest considering the grade of alloy produced. Estimates in the range of 3.5 -3.8 MWh per ton of alloy produced result from the various models tested.
The metallurgical test work performed indicates that the Big Daddy chromite ore is highly suitable for the manufacture of high carbon ferrochromium or for use as a sweetener ore to blend with lower Cr: Fe chromite ores to manufacture charge chrome. The likely grade of alloy produced from this ore is 58-60% Cr. High Cr recoveries are obtained when smelting at normal FeCr furnace operating temperatures using burned lime as flux and suitable solid reductant. The reducibility of the ore is relatively high by comparison with previously tested ores of similar Cr: Fe ratio.
No issues were identified which would give cause for concern about the suitability of this ore as a high quality metallurgical feedstock for the manufacture of ferrochrome alloys. The ore can be marketed to prospective customers as being suitable for direct smelting in existing ferrochrome furnaces without any further beneficiation."
The company is also pleased to report the results of the two holes completed during its winter drilling program. Hole 63, drilled to a depth of 555m at minus 43 degrees, generated two chromite intercepts. The first through the Big Daddy Massive domain was from 489.6m to 525.0 (35.6m) (32m true width), at a vertical depth of 340-360m, assayed 41.08% Cr2O3. The second intercept from 535.5m to 546.0m (10.5m) assayed 32.75% Cr2O3. Drilling of this hole was terminated by the ending of KWGs operatorship of the project. Hole 64 drilled to a depth of 710m at minus 57 degrees, beneath hole 63, did not intercept chromite mineralization at the vertical depth target of 550-600m. The lack of mineralization at depth on this section coincides with a 150m segment within the 1 km gravity anomaly that defines the chromite deposit, where a weaker gravity indication is recorded.
M. J. (Moe) Lavigne, P. Geo., Vice-President, Exploration & Development of KWG, is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of this news release.
For further
Here is a third reason:
Press Release
Symbol on TSX-Venture : KWG.V
Shares issued and outstanding: 636,878,941
KWG REPORTS POSITIVE PRELIMINARY ECONOMIC ASSESSMENT OF BIG DADDY
Montreal, Canada – April 12, 2011 – A Preliminary Economic Assessment (PEA) study commissioned by KWG Resources Inc. (TSXV: KWG) on the Big Daddy Chromite deposit (Project) in the remote Ring of Fire area in the James Bay Lowlands of northern Ontario, recommends the Project be advanced to the Feasibility Study phase. KWG Resources Inc. owns a current 28% interest in the Project plus a 1% Net Smelter Royalty (NSR) on production from both the Project and the adjacent Black Thor and Black Label Chromite deposits, and has the option to increase its interest in the Project to 30%.
KWG President Frank Smeenk commented that, “The PEA results indicate the Big Daddy deposit, if developed, could provide compelling returns to the owners at present prices. The estimated undiscounted cash flow per presently outstanding KWG share over the life of the Project, from KWG’s interest alone, is $2.97 per share.” Please note, cash flow and NPV do not represent a fair market value of the project.
The Project as described in the PEA includes the development of a railway and power line to the site, an open pit mine and associated crushing plant and infrastructure. It is estimated that the pre-production construction would be completed over a 3 year time period and the open pit would produce a total of 25.35 million tonnes of indicated potentially mineable resource and 13.54 million tonnes of inferred potentially mineable resource of lump chromite mineralization, over a 16 year operating life. This scenario represents one of many development options for the Project. The PEA recommends that additional options be considered through marketing, transportation and mineralization processing studies to provide the preferred option for use in the definitive Feasibility Study. All dollar values unless otherwise stated are in Canadian Dollars and an exchange rate of $CDN:$US of 1.00 used.
Project Financial Analysis Results
KWG Interest (30%)
Total Project
Undiscounted Gross Revenue1
$3.79 billion
$12.64 billion
Undiscounted Cash flow – Pre-Tax
$1.89 billion
$ 6.30 billion
Pre-tax evaluation:
· NPV (8%)
$745 million
$ 2.48 billion
· NPV (10%)
$602 million
$ 2.01 billion
· IRR
42.0%
42.0%
· Payback Period
2.5 years
2.5 years
NSR Royalty(undiscounted)2
$126 million
1 This estimate was based on a price of US$325 per tonne of lump chromite mineralization
and an open pit shell produced using MineSight. A cut-off grade of 35% Cr2O3 was used.
2 NPV estimates for KWG interest do not include NSR Royalty paid to KWG.
Base Case Project Parameters
Potentially Mineable Resource (based on the estimate dated March 30, 2010 by Micon International Limited) after mining dilution & recovery
25.35 million tonnes Indicated Resources @ a grade of 38.02% Cr2O3 and 13.54 million tonnes Inferred Resources @ a grade of 37.03% Cr2O3
Overall Stripping Ratio
(waste tonnes: lump chromite mineralization)
27:1
Estimated Mining Dilution
10 percent @ 0% grade
Projected Mining Recovery
97 percent
Lump Chromite Mineralization Produced1
8000 tonnes per day typically
Pre-Production Capital Expenditures2
$784 million
Working Capital
$ 40 million
Total Sustaining Capital Expenditures
$438 million
Closure Cost
$ 10 million
Estimated Operating Costs ($/tonne ):
Mining
Product Preparation
General & Administration
Transportation to Customers
NSR Royalty
Total Operating Costs
$ 47.28
$ 1.96
$ 2.88
$ 75.00
$ 3.25
$130.37
Life of Mine (lump chromite mineralization)
16 Years
Here is second reason:
News Release
Symbol on TSX-Venture : KWG.V
Shares issued and outstanding: 636,878,941
KWG GROOMS DEBUT DIAMONDS INC WITH ACQUISITIONS AND FINANCINGS BEFORE DIVIDEND
Montreal, Canada, July 6, 2011 – KWG Resources Inc. (TSXV: KWG) is pleased to announce a number of initiatives by its subsidiary Debut Diamonds Inc. (“Debut”, formerly Debuts Diamonds Inc.) in preparation for the distribution by KWG of the Debut shares as a dividend to the holders of KWG shares at a record date to be determined.
• Debut to analyze glacial tills recovered from Canada Chrome claims along 330 kilometers
• New high-sensitivity-resolution airborne magnetic survey to be conducted on Victor area claims
• Option to acquire 70% interest in 33 new diamond targets near Nakina to see drilling
• KWG to exchange shares with Debut for $2.1 million
• Debut to complete $2.8 million flow-through private placement
Debut to JV with KWG to analyze Canada Chrome till samples
KWG agreed to provide access to the valuable geotechnical database covering a 330 kilometer north-south transect through the base-metal-rich and diamond-bearing area from the Ring of Fire to Nakina. The database was created as a result of a mechanized-auger soil sampling program conducted by Golder Associates that collected nearly 6000 soil samples from 811 borings on claims staked by KWG subsidiary Canada Chrome Corporation. Debut will process the glacial till horizons at its cost under a reciprocal joint venture agreement, to recover heavy and indicator minerals. Diamond discoveries following from the analysis of these samples will be the property of Debut while metal discoveries resulting from the work will be the property of KWG. The analysis is expected to be completed in the next number of months at a budget of $1 million.
New high-sensitivity-resolution magnetic survey to be completed at Victor area claims
Debut also contracted recently for completion of a new high-sensitivity/high-resolution airborne magnetic survey this summer over the entire MacFadyen area claim blocks, adjacent to the De Beers Victor Mine, at a budget of $1 million.
Option on 33 new diamond targets north of Nakina to be earned by drilling this summer
Debut has also agreed to acquire a 70% operating interest in a group of 28 claim blocks which each contain potential kimberlite pipe targets as determined by analysis of airborne magnetic data north of Nakina generated in 2010 by the Ontario Geological Survey. The area of the claim blocks straddles the Canada Chrome line of claims. Under an agreement with the vendors, Debut will issue 1.5 million shares, pay $30,000 plus 1.7 million KWG shares, and incur a total of $750,000 of exploration expenditures for an option to acquire the interest. Debut must pay $25,000 and issue 600,000 shares in each of the following two years to exercise the option. In order to complete the exploration expenditure a program is planned for later this summer to recover at least one drill core sample from each of 33 high priority targets to determine if they are kimberlites and diamondiferous.
KWG and Debut to exchange treasury units for $2.1 million
To acquire the KWG shares needed for the Nakina area option and increase its working capital, Debut will complete an exchange of treasury units with its parent KWG Resources Inc. under which Debut will issue 7 million treasury units valued at $0.30 each in exchange for 21 million KWG treasury units valued at $0.10 each. The Debut units will each comprise one new treasury share and one share purchase warrant; each Debut warrant may be exercised to acquire an additional Debut treasury share upon payment of $0.40 at any time within 5 years. The KWG units will each comprise one new treasury share and one share purchase warrant; each KWG warrant may be exercised to acquire an additional KWG treasury share upon payment of $0.15 at any time within 5 years. The transactions are subject to Board and regulatory approvals being first received.
Debut to complete $2.8 million flow-through private placement
To fund the exploration programs Debut agreed to complete private placements of 8 million flow-through units at $0.35 each. Each unit will comprise one new treasury share and one-half share purchase warrant; each whole warrant may be exercised to acquire an additional Debut treasury share upon payment of $0.45 at any time within 2 years.
KWG to set record date for distribution of Debut share dividend
As part of these transactions, Debut’s shares will be listed for trading on the Canadian National Stock Exchange under trading symbol DDI and the company will make application to the TSX Venture Exchange for the listing of its shares. When conditional listing approval has been received, KWG will establish a record date to determine its shareholders entitled to receive a dividend of some or all of the 38.5 million shares of Debuts then held by KWG. It is anticipated that these will be distributed to those KWG shareholders as a dividend of not less than one share of Debut for every 20 shares of KWG held.
For further information, please contact:
BRUCE HODGMAN
Here is one reason:
PC leader releases plan for Northern Ontario during local visitBy Jamie Smith, tbnewswatch.com
Jamie Smith, tbnewswatch.com
Ontario Progressive Conservative leader Tim Hudak speaks to Thunder Bay Chamber of Commerce members Thursday afternoon at the DaVinci Centre. Cutting costs is one thing Tim Hudak doesn’t want to do if he was Ontario’s premier, but says it has to be done.
Faced with a $16.7 billion deficit, Hudak said a Progressive Conservative government would cut two cents from every provincial dollar spent, outside of health and education, every year until the books were balanced.
"Yes we will have to find savings," Hudak said during a local visit Thursday after a luncheon with the Thunder Bay Chamber of Commerce. "It won’t be easy. I don’t look forward to it, but it must be done and it can be done smartly."
In Thunder Bay to highlight the Progressive Conservative’s Change Book North, Hudak said the focus is on job creation in this region. But the PCs aren’t going to make a special hydro rate for industry in this region – something industry in the Northwestern has been asking for. Instead, Hudak promised to lower the business tax rate to 10 per cent and cut red tape to attract business.
"If my cabinet doesn’t hit our goal to reduce red tape in the province, we’ll dock their pay and my pay as well," The PC leader said.
The region’s biggest potential for job creation, the Ring of Fire, needs to start being developed, Hudak added. Sharing tax revenues from new mines with First Nations communities and northern municipalities would go a long way to help spur economic development.
And a PC government would put responsibility for the Ring of Fire back in the hands of the minister of Northern Development, Mines and Forestry instead of a Ring of Fire co-ordinator, who Hudak calls a middle manager deep within the province’s bureaucracy.
"We’ve waited far too long, we’ve dithered and delayed under Dalton McGuinty,” he said. "That (revenue sharing) would line up the incentive to be pro-jobs and pro-development and get us out of the quagmire we have today."
But Minster of Northern Development, Mines and Forestry Michael Gravelle said Hudak’s plan shows a complete lack of understanding for the process of Ring of Fire development.
While the co-ordinator handles day-to-day dealings, the minister is ultimately responsible for the development.
"It makes no sense," Gravelle said when reached by phone on en route to Winnipeg, "and perhaps shows some ignorance…he’s just so completely wrong."
Having a Ring of Fire co-ordinator set up in Thunder Bay and Sudbury allows the provincial government to gather all development stakeholders, from mining companies to First Nations communties, together, Gravelle said.
Former Ontario NDP leader Howard Hampton (Kenora – Rainy River) said while it’s easy to criticize the Liberal government, what’s really needed for the region to grow economically is electricity pricing that ensures minerals taken from Northern Ontario are processed in Northern Ontario.
"Developing the Ring of Fire but then sending the minerals outside of the province to process them is not going to generate the kinds of jobs that we need here," Hampton said.
When asked whether a forthcoming NDP Northern Ontario platform includes a separate Northern Ontario industrial hydro rate, Hampton said he’ll leave the announcements to leader Andrea Horwath.
Hudak also plans to scrap the controversial Far North Act, which he said was created at the behest of special interest groups in southern Ontario rather than people in the North.
"Dalton McGuinty wants to turn vast parts of Northern Ontario into a museum, Rope them up so you can have a nice look but never do anything with it," Hudak said.
Land use planning in Northern Ontario needs to come from the North, not Queen’s Park where planning is made with the urban sprawl of the Greater Toronto Area in mind he added.
"I think that’s wrong. I think it’s time we start listening to Northern Ontario families and businesses for a change," he said.
Hampton said no one in Northern Ontario thinks the Far North Act is a good idea, but development is not going to happen without the consent of First Nations, something the PC platform fails to address.
While revenue sharing is important, job training and some control over environmental concerns is also needed.
"I think those are all reasonable things in my community I want to know what’s going to happen I want some control over environmental impacts," Hampton said.
The PCs also want to lower the business tax to 10 per cent in order to create jobs. Hampton said increasing those taxes would be the best way to save the province money instead.
"I think what we should be cutting are the corporate tax giveaways to Bay Street," Hampton said. "Why do banks and insurance companies need a tax break? They’re already raking in the dough."
Not a bad post for a long-time pumper. Answer me this though: If KWG is so wonderful why is its price lower today than it was one year ago? All these wonderful developments you reference and yet the share price is lower. KWG's $496 million railroad proposal is just that--a proposal. Seriously doubt it will go anywhere. There are really more like 850,000,000 shares outstanding--fully deluted. Who's going to trust management of a penny stock with that many shares? They don't call ceo Frank Smeenk "Five-Cent Frank" for nothing. Neither the Canadian or Ontario governments, nor the major developer of the Ring of Fire, Cliffs, is interested in making Frank a multi-millionaire. He's not even a geo and he had nothing to do with the ROF discovery. He's in the way and should accept an offer of .15-.25. I could go on but you get the true picture.
We must remember that the first partner frewest was bought for $1.00 a share. The second spider for low a belive 19 cents a share. Kwg has since defined the ore body much bigger , has done a bulk sample and sent the sample to be analized. This was done by xtsrata labs. xtsrata is the biggest seller of chromite in the world, almost 75% of the world chromite is sold annually by xtsrata. Thier testing was completed and concluded that kwg chromite proceesed cheaper than any other chromite in the world was the best quality in the world and even stated that other world mines could decrease thier processing costs by adding kwg chromite while processing thier own ore. The other bought out partners did not own any part of the railroad proposal. Kwg has that all to thier own. Kwg also has debuet diamonds all to thier own whose initial drill cores found commercial sized diamonds in the cores. Very rare happening. Kwg also owns jv and shares in other companies. Last year kwg had a valuation of kwg completed showing at that time kwg worth about i believe in one valuation about 36 cents a share. Since then no dilution has happened. In the valuation the railroad was given a low value of about 10 cents because it was not a reality, just a lower possible cost than an alternet route. Since then the kwg rr route has become the only route the canadian gov. will permit. Now the railroad is not just a thought, it with this $496,000,000 gov. p3 apllication is becoming a reality. also kwg has since almost finished thier enviromental datta for the railroad. What is the railroad worth now. Well with 636,000,000 shares outstanding in kwg and the rail itself going to have 496,000,000 millon supplied by the gov for a start, you do the math. Also i belive that within 3 years of mine start the railroad can start booking cartage contracts increaseing rr worth again. That means contracts could start by dec this year. All kwg longs will get shares in the rr and debuet diamonds probably 10 to one or 20 to one when kwg announces the spin out of these company subsiduaries. Buy now and be in for this when it happens. This will happen or a buyer of kwg will have to pay bigtime for all kwg and it's subsiduaries. I am sure xtsrata who is quite aware that kwg ore is the best and biggest does not want to lose thier world market share of 75% of the world market when kwg chromite comes to market. There is a shareholder base of over 6,000 shareholders in kwg. This is important as these shareholders can hold thier shares stopping anybody from taking over kwg cheap. This means a buyer will pay what it is worth or the joint venture agreement will kick in Aprill 1, 2012 and kwg will become a third owner of the biggesat chromite mine in the world and own transportation rights to the only rr to this mining site and all other mines in this area witch are fast becoming a reality. Kwg also has net smelter royalty rites ( nsr rights) exclusively to all the chromite mine . I believe that is 1% of the money made by the mine for total mine life. In the previous evaluation this rite was given only pennies a share because the whole mine was dependant on transportation of ore which kwg rr is now making a reality. So what is KWG worth??? Let no one unenlightened panic you into selling. Remember the kwg long shareholders of over 6,000 strong control enough shares them selves to insure a good buyout or a joint venture. I for one can see north of $1.00 a share buyout or if a joint venture is forced buy the shareholder base refusing to be bought out then in a joint venture situation kwg shares will climb to at least $10.00 a share within 5 years.
Oh no another ignorant KWG pumper as if there weren't enough of them on S/H and A/G. The Canadian government is not giving any money to any ROF mining companies. Nor is the Ontario government giving any money although there are discussions about the Ontario government providing funds for a railroad. These are just discussions. Nothing has firmed up and is unlikely to until after the next Provincial election. Your $496,000,000 is a total fabrication. The Chinese are not in KWG and Hudbay is not in KWG. The Chinese own some NOT and Hud Bay owns some BMK I believe. Debut Diamonds is a joke KWG management brings up when nothing else is going on. It's been an on-going joke for years and is meaningless. As are you
With kwg getting 496,000,000 millon dollars pumped into it by canadian government and other mines beside kwg being bought into by the chineese and hudbay minerals and the annoucement kwg is splitting off thier diamond findings and giving kwg shareholders free shares of thier diamond company, debuet diamonds as dividends to kwg holders of a date of record to be set within the next 2 weeks. This is just a few of the happenings going on right now. I would say your ignorance of not knowing true facts only is slightly surpassed by your IQ.
To all a good message long in comming! Kwg.v on the toronto canada venture exchange not desseminated for us info just announced a $(496,000,000) application to the canadian government for inforstructure for a rail line which will open up the biggest chromite mine in the world proven to be the best known quality and cheapeset processing in the world. This will open this mine to at least a 20 bagger plus four other mine ore bodies that are beautiful investments. If you need info e-mail me at goodheart-r@hotmail.com and or do your own dd. I am celibrating on this long weekend!!! Just want to share this to those fortunate to read this....
June 22 and 23 the canadian federal and provincial goverment will be announcing if they are putting inforstructure money into rail and road to these mines. This will tell the story of where this stock is going. Might be a good idea to buy ahead and if the news is bad then sell, but if the news is good, well, the sky will be the limit!
A state owned chinesse steel company much larger then cliffs just bought into the company next to kwg. This means two majors now into the ring of fire discoveries with plans for mines and inferstructure. World class ore deposits going for pennies right now will end up at major multiples as the mine feasibility studies progress for these mines.
The current drill cores that have just been taken off site will double ore body thus at least double economic value when recent cores are analized.
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KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chrome have been made recently in the Ring of Fire. Cliffs resources of the united states is a 2/3 partner with kwg oin the big daddy chromite find in canada. Chromite is on the united states ( essential minerals list)
Cliffs completes Freewest acquisition
By: Liezel Hill
27th January 2010
TEXT SIZE TORONTO (miningweekly.com) - US-based Clifs Natural Resources has completed its acquisition of junior Freewest Resources Canada, the companies announced.
The transaction, in which Cliffs paid 0,02016 of its shares for each Freewest share, was approved on Monday by Freewest shareholders and the Ontario Superior Court of Justice gave its final order of approval on Tuesday.
Freewest shares will likely be delisted from the TSX Venture Exchange later this week, the companies said.
Freewest's main assets are large chromite deposits that it has discovered in the Ring of Fire district in the James Bay Lowlands of Ontario, Canada.
It owns the Black Thor and Black Label projects, as well as 50% in the adjacent Big Daddy joint venture.
The company was the subject of a hostile bid last year from fellow Ring of Fire explorer Noront Resources, but Cliffs stepped in as a white knight after Noront's initial unsolicited offer was announced in October.
Noront raised its offer once, in an attempt to woo shareholders away from the Cliffs deal, but Cliffs increased the price of its offer twice, eventually to the share equivalent of C$1,00 a share
Noront announced on December 14 it would not extend the deadline for its offer, after just 4,5% of Freewest's shares were tendered by the expiry date.
Cliffs, which mines iron-ore and coal, has said it plans to start producing ferrochrome from the Ring of Fire deposits by 2015.
It will build chromite mines and electric arc furnace smelter facilities producing between 400 000 t/y and 800 000 t/y of ferrochrome, CEO Joseph Carrabba said in November.
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