The governments denial is just another spike in the coffin of legitimate investors and the future growth of the NWT.
The decision however was not unexpected. Expect the same treatment in any NWT exploration company that deals with these pack of cutthroats. If shareholders in other companies doing business in the area think they are exempt, remember this small statement in the media made by the First Nations. NO NEW MINE DEVELOPMENT. If investors think because one diamond mine has been approved that the "forces" will just roll over, be advised, Markets will always mark down enviromental and development risk, and the proof is in the current shareprice of all concerned in the area. It is a tragic day when a corporation compiles a 292 page CSR report, and the opponents still claim it isnt enough. In regards to Ekati, as has been stated on several occasions over the last few years, intrinsic claims were built into the project. The premier and the cabinet should resign. His statement two years ago was to expedite the permitting program. He has failed, he should resign. A suit ought to be entered immediately seeking repatriation of all monies spent to date by Aber Resources, and any future exploration company should GUARANTEE that money invested today will result in expeditious development. If the company cant provide a written document backing their claims of clear title and free of encumberances, I wouldnt own the stock, plain and simple. If one wants to let his monies become hostage to political witchhunts and special interests groups, then they are fools. The trend and signals were present early this year and they were brought to investors attention, at least the ones I converse with on a regular basis.
The bastards that run the politics wont find a hole deep enough to hide in before this is through. I would suggest that when the last Gold Mine closes in the NWT, that it will be too late to reverse this precedent. For those taking pleasure in this outcome, remember one thing, this fiasco along with Inco will leave the future of Canadian Mining in the forgotten tundras of the North, and the lights will be shut down, investors dollars will blow to the areas of least resistance. BTW the proof was and is being confirmed, please check the share price of non Canadian Diamond companies. I think my point has been confirmed.
I dont plan on waiting for these pricks to massage their egos at the expense of investors, good by. |
