Alan Coutts floats concept of downstream nickel processing plant for the electric vehicle battery market
Even the spectre of Wyloo Metals’ takeover bid hanging over his head didn’t deter Noront Resources CEO Alan Coutts from talking like the future mining kingpin of the Ring of Fire.
In his June 9 webcall to investors for Noront’s annual regional meeting, Coutts addressed the Australian elephant in the room by methodically walking shareholders through the process of digesting Wyloo’s unsolicited $133-million bid to acquire the Toronto junior miner before delving into his company’s ambitious plans for 2021 and beyond.
Wyloo came aboard last December as Noront’s biggest shareholder at 23 per cent before announcing its intention to make an all-out bid to pick up all the common shares of Noront it does not currently own.
If there’s been one upside to the past pandemic year, Coutts said it’s been a bull market in base metals and the Elon Musk-generated excitement over all things to do with electric vehicles.
Noront is sitting on an uncalculated amount of high-grade nickel, copper and chromite in the James Bay region, 500 kilometres northeast of Thunder Bay, with a huge 156,000-hectare land package that could host multiple deposits lasting generations.
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