Fort Hills just got less attractive since recently the Alberta government announced major news regarding the implementation of a new environmental plan to curb CO2 Emissions resulting in the Oil Sands development projects to be less profitable. The policy change will help bring Canada to global standards to help in the fight to reduce climate change. The New Carbon tax and other things will likely hurt capital investment in this sector.

On another note, Sunridge Gold got $85 million (Canadian) dollars for its small deposit in Africa by a Chinese corporation. Before the anouncement, the price offered was nearly 3 times more than the market capitalization. Deals are being made in this market environment.