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Gold/Mining/Energy : Copper Fox
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To: Tap66 who wrote ()3/31/2016 12:33:15 PM
From: louel   of 10654
 
Long but I have dealt with the following as a resource company operator and it affects the whole area.

Nova Gold who is the operator of GCMC who owns the rights to the Galore Creek access road which provides the initial 65 km to connect to the Shaft Creek spur,
The Government in BC does not allow numerous roads to be built by separate companies into the same area when one major main road will suffice.
It is considered site or area degradation and is absolutely Taboo. Spur road off shoots from a main thru fare to service different enterprises is the way it is done. It is the Provincial environmental policy.

With out either having permission from GCMC (NG) Teck cannot on it's own simply decide to proceed with construction of the Galore road. It does not solely belong to Teck . No different than Romios Gold and many other claim holders along the way are being held up by lack of access. You just can't simply take over a road which some one else has invested funds to construct with out either buying them out or having their permission to do so. The road is company property no different than the mine site it's self.

Teck and NG may be partners in Galore. But that does not mean NG is going to allow Teck take over the road profit freely from the $50M NG has invested there. No different than Teck Teck saying they will pay the rest of the cost and NG can use it for free should they decide to proceed with Galore.

After the road is completed and in use the Government reimburses the company via a reduced stumpage or royalty program on the products delivered to market from their enterprise in the area. The access to the region then becomes property of the Province. That is why I said in an earlier post the BC Government may have to get more involved if they wish to move the numerous projects in the area forward.

So I see 3 to 5 years to EA app. 2 years to issue, two years of road building to bring in the mill and equipment , 5 years to production. In 15 years many of the folks invested here will be dead.

I done very well in CUU probably as well as anybody. I hold no shares in Copper Fox But I do have a considerable private investment in the area which at present there is no market for, and is dependent on access from the road. Now at 77 I doubt I will live to see it come to fruitation.

Fortunately for me it won't affect my lifestyle, and 2 of my seven children are professionals and can deal with it if and when the time comes. But for some they may be better off for a time in something which pays a 10% dividend or a solid growth stock for the next year or two.

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