Re: NEWS!!! (advertisement, this msg contained miners talk)
posted on
Apr 08, 2015 10:07PM
I know some here really don't like to read those types of (not factual stuffs from an official News release) And I respect your choice. So please rate me a 1 Star and move to the next msg!
To answer deeppoket83 in all respect. I'm not that obtimistic as you are with the Galore developpement..
I still hear (today again ) some pretty pessimist comments from the miner managers that know the area very good, (Lived in Stewart and worked at BruceJack many years, he also knew the previous owner of Galore Creek Claims who got killed) --Galore Creek won't be mined-- (to his opinion) I now heard this from 3 different Highly qualified workers that worked on the field at Galore.(Old Servey guy, Miners manager, and Jumbo man) ...Are they all stupid...? who knows..?
But what we do know is that it seems like it's not only the miner's opinion.. It's also Nova Gold's opinion..as they try to sell their 50% without succes. I would be curious to know the price that Nova Gold paid for their 50% VS the price they are trying to escape with (anybody have those numbers please?)
You just gotta ask yourself a question, Why would a company like NG would STOP drilling, Shut down the whole project and try to run away right after not even a few hundred meter done of the tunnel....?
Who would be willing enough to jump in that train and take the Nova Gold's 50% + pay for all infrastructures. I can't confirm those numbers, but I've been told that they stoped the project after 10 months realizing that they spent hundreds of millions in that very short period.. And yet.. this was just the beganing. (Only a hundred meters done out of almost 14 KM) Adding to the fact that everything was rusting within a finger clap, due to high level of acidity (So count all the equipment extra costs along the way) and that's only for the Access cost. it would of been the First world wide tunnel ever drilled into a glacier. Miners had to stoped and getting evacuate many times per day due to the dangerous avalanches zone their were in. (again....it's an amazing cost to stop production everytime) Here it's a small tunnel I'm doing right now. and they loose around 20k every round they failed to complete on time. Now Count that they need to do 2 rounds per day.
I don't think Teck invest in Shaft Creek (only to lower Galore Creek Cost)
I think they invest in us because we are a very profitable project that will Enhance TECK Shareholders Value for many years.
They made the mistake once. I Highly doubt that they would/can make the same huge mistake twice within the same safe and promising area, provided by Hydro lines and Port facility.. The dreamed project!
So it makes me very confident to know they backed in for 75% and keep puting money on SC right after the Galore Creek Flop!
On a happier note, I asked the manager if he knew about Shaft Creek project, and he said with a smile (Of course.. That's exactly 2 of the good projects in the area, Brucejack and Shaft Creek) Only that made my day ;)