Re: First Nations given 1,000,000 shares of LBE
posted on
May 21, 2008 05:40AM
You cannot get around not making a deal with the First Nations. What is better, making no deal with the First Nations or getting the permit to advance McWatters and removing the hurdle in future development. They now have a vested interest in our company too. Go look at other companies as they get to our stage of development and you will see that the First Nations or the equiv get deals where they can get trained to work at the mine, there are scholarships offered, they own a % of the company. Whether it is in Mexico, Africa, Canada - this is a reality.
No company I know of is ever going into production from the simple 19 million shares they start out at. It takes money to explore, acquire properties, develop properties. I for one am glad that they did make an agreement and it is signed off. It is just one more hurdle that we had to handle.