SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Major General--MGJ

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Steve Joy who wrote (1513)12/11/1999 2:49:00 PM
From: George J. Tromp  Read Replies (2) of 1707
 
When the Mayor talks people listen:

Putting rumours to rest
King's Point mayor address exploration activity

By STEVEN SMITH, the nor'wester

KING'S POINT -The mayor of King's Point and chair of the King's Point mining and development committee, Baxter Newman, is quite optimistic about the possibility of a new mine near King's Point. Nevertheless, he is concerned about some of the rumours that have been circulating around concerning the proposed development.

"People need to realize that there is quite a bit of homework that needs to be done before a mine can be established. For instance there is the environmental issue, the cost issue and the price of gold issue," said Mr. Newman.

"What has happened in the past in Canada is that prospective company's have completed the 120 days of due diligence, they have done down drilling, and they have even done an underground sample, but yet the mine was never established. A lot of people had their hopes up that something was going to happen to boost their economy and get a few jobs on the go but nothing came out of it."

"I have been speaking with company officials and they told me the best time to be coming out with anything factual would be the middle of March or April. This would give the Quebec company Abiting Inc. time to complete the time of due diligence. Right now Abiting Inc. only has a letter of intent from Major General Resources of Vancouver."

"After the 120 days of due diligence are completed it is up to Abiting Inc. to complete the deal if they are satisfied with what they are finding."

Mayor Newman said he is hopeful the company will carry through with it's proposal to develop a full-fledged mine in the area. Many people are asking if there will be a mill set up in the area. According to Mayor Newman, Abiting Inc. are not willing to give a definite answer to that question at this time.

What the company officials are telling him is that there is a lot of environmental work left to be done, and the work is going to be very costly.

As chairperson of the Mining and Development Committee Mr. Newman said, if new jobs are created the mill might be a viable option. "But" he added, "we have a beautiful valley at the base of this mine site and to put holding stations here, is definitely an environmental concern."

"It is only a couple of kilometers out the valley to where the town gets their water supply. So it might be of interest to the town to monitor that situation. But again ,we are not saying whether or not we are supporting the mill."

This March the King's Point Mining and Development Committee holding public meetings to let the people of the town know exactly what their plans are for the area. These meetings will be attended by designated company officials.

"We as a committee are elected officials. Therefore we are going to decide according to the wishes of the people," said Mr. Newman.

"Mostly what is taking place on the site right now is some exploration and down drilling. People need to realize that a mine is not a mine until all exploration work has been completed."

"Even though they are finding good prospects so far, it is still possible the company may decide it is not feasible for them to come in and do the work."

The main point Mr. Baxter wants to get across to people is that they should keep their hopes up but they shouldn't speculate beyond reason.

Mr. Newman said, "We as a town are optimistic that something will come out of it. We are hoping to get some recognition for the town of King's Point so that other spin off companies would be encouraged to come in and set up shop in our town."

Mr. Newman also wants to make sure that any jobs arising out of the proposed development will stay in the area.


Regards
George
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext