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KWG Resources ( (TSE:CACR) ) has issued an announcement.
The Canadian Chrome Company Inc. has expressed satisfaction with recent governmental and First Nations initiatives focusing on the Ring of Fire, a region rich in strategic minerals like chromite. The company endorses Conrad Black’s views on the potential of the Ring of Fire to transform Canada into a key player in the global supply chain for strategic minerals, particularly chromite, which is essential for stainless steel production. The introduction of a 30% tax credit for flow-through shares in chromium exploration in Canada’s federal budget is seen as a significant incentive for investors. The company plans a private placement of flow-through shares for its Black Horse Chromium occurrence, aiming to advance its exploration efforts and capitalize on the region’s potential.
More about KWG Resources
The Canadian Chrome Company Inc., formerly known as KWG Resources Inc., is an exploration stage company focused on identifying, acquiring, consolidating, exploring, developing, and evaluating large-scale deposits of minerals, including chromite, in the Ring of Fire region. The company also supports the development of transportation and electrification links to access remote areas where these deposits may be located.
Average Trading Volume: 1,905,942
Technical Sentiment Signal: Hold
Current Market Cap: C$21.1M
Learn more about CACR stock on TipRanks’ Stock Analysis page.