Wednesday, October 24, 2012

Copper Fox close the last PP

They let this pp run the full length of time and finaly closed it using a little over 1/2 the amount sought. A number of questions arose today surrounding why only 2.5 million dollars. Interesting to say the least. Ernesto could have ponied up the full amount but clearly it wasn't required. That's a hint folks. You see they state what it will be used for. A chunk of it is going to the enviro. What have I been telling people. The enviro just requires the waiting periods and is all but approved. Elmer (CEO) has made sure that all departments have had up to the day info. Nothing in it will be a surprise to anyone. So really, they just have to wait out the comment periods and it's a done deal. This is why they have spent so much time including First Nations.

Something else I want you guys to know. There's a lot of people talking about the Chinese interest in Teck and what that means for Canada. You're hearing an aweful lot about them these days. They buy our coal and bring the miners in and we get zip, zero, nada. Our politicos tell us we don't have the skill and there's a skill shortage in this area. What they are telling us is that we are too stupid to learn coal mining! They say we don't have the technology! Ask our coal miners down east about it. You may have followed this in the Vancouver Sun or other papers and might feel a little indignified about it. The jobs issues reported in the Terrace news paper cronicals Canadian miners being miss treated so as to favour more american workers. (Yes, they are stealing our jobs too. :>).   But have a listen to this: If you're not familiar with this you might want to google up the WTO papers on this subject. Or, maybe not.

Shocking isn't it? So here we have little Elmer sandwiched between a 20 billion dollar deposit and a chinese influenced Teck. And what can he do? Well, for starters he can weave a deal that sets a number of standards. He can put together the right mix of people to control the project and enshrine environmental standards we can be proud of. He can help make this a more acceptable multinational project. Don't be surprised if all levels of government are happy. I think the industry will get an example that sets the bar high and the public will be happy.

Closing the PP tells us that church and state needed to be seperated. Forward costs need to be seperated from the "applicable" costs. If another PP comes saying they are raising money for Arizona this should not be a surprise.  Should this be true then we can conclude that a deal has been struck. The alternative is that we would have taken the full 4 million and get busy in Arizona.

If I'm right there's a whole lot of people that just missed the boat.

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