I think its because the little guy (Rock) my very well get to "schtick" it to the big guy (BC GOV). I am in the minority on this thread, I actually want this to go to litigation! An arbritateur if appointed killed the BC Gov to the tune of 100% PENALTY for delaying the settlement! Some people feel that it will likely get settled for chump change. I think the exact opposite.
Rock was a great little company with very few shares outstanding, a couple of good properties (Amber) with "mineshafts" rolling stock, proven reserves, and a great potential to expand on the reserves. All of a sudden the grinch (BC Gov) comes in and expropriates the property for parkland. They stated then that they would expediate settlement with all claimants. Rock and Royal Oak were the only companies (that I am aware of) that had infrastructure on their properties! Royal Oak settled for $166,000,000. Rocks claim is still outstanding! Why you may ask? Well rock was preoccupied with finding a piece of property that would justify its existence as a miner! The BC gov. was drafting new "kinder gentler" policies after watching the effects of their stupidity take hold!
Rock now attempted the business like way of attempting a settlement. They had their property evaluated by an independant geologist at$21,000,000 they than asked the BC Gov. to discuss compensation. They followed it up with letter after letter after letter. Finally they decided to sue! As soon as they did, the BC Gov appointed a Public Servant to the Rock case. This is the point we are at now!!
Coiron Property
I am not sure if you are aware of gold/copper porphry systems in Chile but, this area now has two world class copper porphry mines within spitting distance of Rocks property. los Pelambres and the Luksic Group property. The two properties are on the same fault system as Rock. In a high percentage of the cases, a porphry can be two dimensionalized by its breccia cap. Rocks breccia is larger than any other in the area by 4 fold! this is why they are talking 12 billion tonnes of mineralization as a possible objective. The interesting thing about porphry systems is that impurities can occur. These impurities canbe either "gold or silver". Rocks property has "nasty "gold impurities.Not unlike Bema's Cerra Casale property.
Bema's property contains 16mm ozs of gold and 7.2 billion lbs of copper!!! Bema's property is in the snow belt at high altitude with no water!! Rocks is not in the snnow belt, is at low altittude and has surface water at the base of their property!!Is it possible this property is like Bema's.......maybe! An IP will certainly indicate the size of the anomaly below the breccia...so thats what we wait for...in the meantime we can run with the BC Gov thing!!
And the price of admission for this entertaining soap opera is 15c Canuck!!
the Chief |
