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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (54837)	1/2/2008 8:20:06 PM
From: onepath	Read Replies (2) \| Respond to of 78419

Not much new but this local article is worth posting.Have more to follow later when I have a little time. Exploration accelerated in Northern B.C. (0) [Back]< Prev \| Next > (News) Monday, 31 December 2007, 00:01 PST GORDON HOEKSTRA, Citizen staff Mining exploration continued to heat up in northern B.C. in 2007, but the start-up of a new metal mine proved elusive. Although provincial and federal environmental approval was awarded to the $2-billion Galore Creek project in northwest B.C., the two companies announced they were pulling the plug on the copper mine just months after construction was started, noting a review showed the costs more than doubling to $5 billion. NovaGold and Teck Cominco said the review and completion of the first season of construction, coupled with reduced operating margins as a result of a stronger Canadian dollar, would make the project uneconomic at the expected long-term price for copper. The new mine, expected to be complete in 2012, had been hailed by the B.C. mining community as a confidence booster as it was the first new metal mine to start construction in a decade in the province. The halt to the Galore Creek project has also put a hold on a proposed $400-million power line that would have extended transmission 335 kilometres along Highway 37 to feed mining projects. That's because Galore Creek mines was to contribute $158 million to the transmission line. In another significant development, a joint provincial and federal panel delivered its long awaited report on Northgate Mineral's proposed $200-million Kemess North gold and copper mine, recommending it should not go ahead. The panel said the economic and social benefits provided by the project, on balance, are outweighed by the risks of significant adverse environmental, social and cultural effects, some of which may not emerge until many years after mining operations cease. The rejection was considered rare, as most provincial and federal environmental review processes give the green light to resource developments, although sometimes with conditions. The decision was lauded by First Nations who have been fighting Northgate's proposal to use six-kilometre Duncan Lake, called Amazay in the native language, to store mine waste. But Northgate, and the larger mining community, reacted strongly to the panel's decision. Northgate president and CEO Ken Stowe said First Nations had won a "veto" over mining projects in British Columbia with the panel's decision. "I think this project, in a way, has been sacrificed on the alter of unresolved land claims in British Columbia," said Stowe. Ottawa and Victoria's response to the panel's decision is expected early this year. Another northern B.C. project continues to move ahead. Terrane Metals' proposed $827-million Mt. Milligan gold and copper mine is moving through the environmental assessment process. It is the closest proposed mining project to Prince George, located about 155 kilometres northwest of the city. The project is expected to create about 350 permanent jobs and another 600 construction jobs if it goes ahead. Existing metal mines in northern B.C. are beginng to wind down. Barrick Gold's Eskay Creek silver mine is slated to shut down this year, while Huckleberry gold and copper mine, owned by Imperial Metals and a consortium of Japanese companies, is projected to close in 2010. Northgate's Kemess South project, just south of its proposed Kemess North project, is expected to wind down by 2010 as well. However, the Endako molybdenum mine, recently updated its reserves to 27 years, a jump of 20 years. The mine in Fraser Lake, 160 kilometres west of Prince George, has already operated for 40 years. On the exploration side, 2007 is expected to be another record year in B.C., much of that taking place in northern B.C. Junior mining minister Kevin Krueger has already said he expects that exploration spending would top $300 million this year in B.C., beating last year's record of $265 million. One of the highlights of exploration this year, was Serengeti Resources new gold and copper discovery north of Fort St. James. The Kwanika discovery -- about 250 kilometres northwest of Prince George -- set Serengeti's stock soaring, and enabled the company to raise $25 million to carry out more exploration. The company is still in the early stages of setting out exactly what kind of discovery it has made -- including how big it is and whether it is the type of deposit that could economically be turned into a mine. Other known landholders in north-central B.C., include Xstrata PLC (formerly Falconbridge), Rimfire Minerals Corp., Geoinformatics Exploration, Decoors Mining and Peak Geological.

To: marcos who wrote (54837)	1/3/2008 2:45:49 AM
From: onepath	Respond to of 78419

A few years back I was up at Rainbow lodge on Takla lake(we where actually looking to buy the place until the reality of the money and work involved made me come to my senses).The rail line ends just past there.At the time workers where upgrading what is appropriately called the end of the line and hopes where high at the lodge that the rail line was going to get pushed thru to Dease lake.No way as it turned out.Beautiful canoe trip down Takla into the Middle river then thru Trembleur Lake and down the Tachie R. into Stuart lake.Then it is down the Stuart R. to the junction of the Nechako R.(site of one of the biggest known Native Indian battles in the area).From here another 6 hours and you are at the junction of the Nechako R. with the Fraser R.(Prince George)Fantastic and easy enough trip to do and part of the reason we where looking at buying Rainbow lodge.(to run tours) TUO.v... yes and ETF/LYM.v ...yes again.Sold them down a little as well as all my RG.v and CUU.v and most of the proceeds went into NG.t but I plan to divert part of it back soon.NG.t buying opp. just could not be passed up.TUO and ETF/LYM I never completely sell....never gonna give up...their time is coming.<g> TSX and TSX venture full blown green in a world of red stock markets today.