Toronto, Ontario–(Newsfile Corp. – March 26, 2018) – KWG Resources Inc. (“KWG”) (CSE: KWG.A) (CSE: KWG) (OTC: KWGBF) (FSE: KW6) announces that the reception sponsored by KWG and the Ring of Fire LP, will now be held at The Design Exchange on Monday June 18th, 2018 instead of April 5th, 2018.
The purpose of the event is to raise awareness of the present opportunities to accelerate development of the Ring of Fire and to fund the establishment of an association to compile and publish relevant research and data. The revised reception date will ensure that current international trade issues and prospects affecting this development do not interfere with the campaign of any person seeking election as a Member of Provincial Parliament.
Minerals critical to the USA:
On December 20, 2017 President Trump ordered his Secretary of the Interior to compile a list of critical minerals defined as (i) a non-fuel mineral or mineral material essential to the economic and national security of the United States, (ii) the supply chain of which is vulnerable to disruption, and (iii) that serves an essential function in the manufacturing of a product, the absence of which would have significant consequences for the U.S. economy or national security.
Chromium is on the list:
The list published by the Secretary on February 16, 2018 included Chromium. This provides a unique opportunity, as President Trump battles to right years of trade imbalance with other markets, for a significant trade alliance between Canada and USA. Doing so could dramatically accelerate development of the Ring of Fire, the globe’s largest undeveloped deposit of high-grade chromite.
A city in two countries:
Sault Ste. Marie is bisected by the canal that is the boundary between Michigan on the south and Ontario on the north. The Ontario side hosts the steelmaking facilities founded by the Algoma Iron, Nickel and Steel Company in 1901. It also built the Algoma Central Railway from there, due north to Hearst, Ontario.
Adding trade and security to both countries:
To make the USA secure in its chromium requirements it may be feasible to co-locate some part of the needed industrial works on the south side of the canal. This could tremendously enhance the viability of the steel works on the north side, by substantially growing and diversifying production there for many decades hence. Doing so could end once and for all the almost once-per-decade insolvency and financial restructuring that these works have recently experienced. As a former investment banker specialized in the steel industry, USA Secretary of Commerce and Trade Czar Wilbur Ross was renowned for such restructurings.
The Port Authority and Missinabie Cree territory:
Because the Algoma Central Railway traverses the traditional territory of the Missinabie Cree First Nation, its pro-development people have been proactive in seeking a commercially secure future for this invaluable transportation link. As an asset of a federal agency the Railway would be governed by the business and geographical communities that it serves. To make viable the exploitation of the Ring of Fire’s chromite deposits, that agency could then finance and construct an extension of the railroad from Hearst to the Ring of Fire. While the proposed expansion of the area’s road network is desirable for the linkage of its remote communities, trucking at ten times the cost of rail would render the chromite’s exploitation economically unfeasible.
Hon. Maxime Bernier support:
KWG had previously propounded a plan to Prime Minister Stephen Harper and his designated Ministers, for Canada’s participation in the development of the Ring of Fire by creation of a Port Authority under the provisions of the Marine Act. Their colleague, the Honorable Maxime Bernier, applauds that model in his current role as Opposition Critic for Innovation, Science and Economic Development.
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary, Muketi Metallurgical LP, is prosecuting two chromite-refining patent applications in Canada, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The national phase filings are under review in each of those jurisdictions, save that Canada and South Africa have notified that they will each grant a patent for the direct reduction method.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ [email protected]
Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein, including, without limitation, references to the proposed creation of an association to compile and publish relevant research and data are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and KWG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any securities that may be described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.