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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Nevada9999 who wrote (10346)	5/3/2006 11:09:54 AM
From: E. Charters	of 78419

The NDP policies in BC in the 1980's closed 138 mines in that province, large and small. Most will never re-open. This is the main reason why most BC prospects still sell at a discount to market. This is changing slowly. The Windy Craggy, in development by Geddes Resources, was whispered by the government as uneconomic, a scam. The NDP parked the area, after a long hearing where the company was denied compensation for the government actions, and gave administration of the park to an Indian band. That alone was an unusual step. Experts from the US stated during the hearing that all the stated government objections about environmental aspects could easily be overcome without any pollution of the Stikine system that would be harmful to fish. The Windy Craggy had 400 million tons proven of 1.2% copper. This deposit was Canada's richest, largest copper resource. There are several others in that area that remain unexplored, but are visible from the air as gossans. This valley mineral system rivals in some ways the Chilean copper areas. It winds up into the Wrangell Range in Alaska where it has been exploited for copper during the war by Kennecott. This sort of government confiscation was paralleled earlier with the Potash mines of Saskatchewan who spent millions to cut thru the sand formation of the Blairmore and were rewarded by a low-ball takeover for pennies on the dollar when they got into production. No compensation for loss of potential revenue. Why the government needed to be in the fertilizer business was never explained. The SK government did the same thing with Uranium producers once they had found their mines. They bought in cheap a 50% stake. At least they didn't boot the shareholders entirely. Canada has often treated mines shoddily. Special taxes on the oil industry were instituted by Trudeau's goverment with his National Energy Policy. Ceilings were put on prices which disallowed economic exploration for more resources when we needed them most. The government got world price with the oil they bought, the companies were forced to sell at the special CDN price. It was unrealistic and a vote buying, money grabbing sham. Really, the wheat board practices the same policy, as well as the various agricultural boards. Canada has few business areas that are allowed to practice free enterprise with impunity. The legacy of the NEP has denied western votes to the liberal party for decades. Fitting I would say. If it were not for Quebec the liberals would have been defeated soundly from 1867 until Chretien. Somehow Ontario was convinced to vote for them. With 38% of foreign exchange coming from mines and metals for 100 years or more, you would think a more effective lobby could be formed to get a fair shake for free mining in Canada. So far, so bad. EC<:-}

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