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Gold/Mining/Energy : Donner Minerals (DML.V)
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To: Sam who wrote (4207)4/24/1998 12:55:00 AM
From: Tommy D  Read Replies (1) of 11676
 
Discovery at SVB would be great for VB and NFLD but don't count on Inco caving to NFLD. The uncertainty in VB will also apply to SVB at some point in time. The unresolved rights and the position of the Inuits coupled with a tough bargaining position of NFLD and a depressed nickel market make it much easier for Inco to sit back and wait. The other interesting thing is the position of the Province of NFLDS if the Inuits establish that they have the mineral rights to the land. What are the consequences of a person registering their interest or right in some land in the local provincial registry and based on the understanding and representation of the province that they have the right to explore the land, expending large sums of money to develop the land. Should the company that relied on the government not have some recourse against the province. How can our economic system work if these native rights take priority over our existing land titles/mineral or natural resources registry systems. If the inuits have a claim, is it not against the province, not the company(in this instance Inco). If the rights of the natives take precedence, how can any piece of land in Canada be said to be exempt and without certainty how can anyone invest in our country. This issue of the priority of rights is very critical, not just in Labrador but thru out Canada. I am not saying the natives do not have any rights but I question whether their recourse should be against the current owners who acquired the property in good faith. Sorry to ramble but this issue is somewhat scary as it relates to capital investment in Canada over the long term. A settlement with the Inuit and Inco at VB will unfortunately not necessarily settle the broader issue.

TommyD
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