HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Changes to OLG will cost city $73K: mayor

By STAR STAFF

Posted 9 hours ago

Greater Sudbury is among 18 municipalities fighting changes to the Ontario Lottery and Gaming Association's accounting system.

The changes will cost them money, the municipalities said in a statement issued Wednesday.

"This change will impact the City of Greater Sudbury," said Mayor Matichuk. "We can expect a loss of approximately $73,000 each year.

"It is important that we work with the OLG and other affected municipalities to find creative solutions to recover this loss."

Led by Sarnia Mayor Mike Bradley, municipal officials met with the Ontario Lottery and Gaming Association to discuss the changes to the agency's accounting system.

What this means for Greater Sudbury is that the city will be losing a significant amount of revenue that is received through the Sudbury Downs Slot Machine Program.

Since 1999, the agreement between the City of Greater Sudbury and the OLG has gar-n ered annual revenue that started at about $1.9 million and has since increased to $2.5 million.

The money has been spent on city projects, such as the widening of Municipal Road 35 in Rayside Balfour.

The contributions from the OLG have also played a significant role in relieving the tax burden incurred by Greater Sudbury residents, the city said.

Also this week in London, during the annual meeting of the Association of Municipalities of Ontario, Matichuk and councillors David Kilgour, Fabio Belli and Andre Rivest met with provincial politicians.

They talked about the need for infrastructure money, financial support for the Maley Drive project and the importance of keeping our energy costs low to attract businesses to Greater Sudbury.

"I'm encouraged by the positive responses we have received from elected officials, including (Sudbury Liberal MPP) Rick Bartolucci," Matichuk said.

" The promise to ensure increased and sustainable funding for our crumbling infrastructure is a positive step to help us deliver better services to our citizens."

Ontario will go to the polls in October to election a new provincial government. The AMO conference has allowed the government and opposition parties a chance to hear from municipal leaders and share their policy platforms in a large forum.

"We heard directly from all three parties that they are committed to keeping the Ring of Fire refinery jobs in Northern Ontario," said Kilgour. "This is welcoming news as these jobs are imperative for the growth of our community."

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