Gold has traded between $1,142 and $1,156 so far today…as of 9:00 am Pacific, bullion is down $10 an ounce at $1,145 after some bearishly interpreted remarks this morning from Fed Chair Janet Yellen…Silver is off 35 cents to $15.02…Copper is flat at $2.51…Crude Oil is 89 cents lower at $52.15 while the U.S. Dollar Index has added half a point to 97.12…
Gold came under mild pressure immediately following the release of a prepared text for Yellen’s speech to Congress as she begins 2 days of testimony before lawmakers, initially before the House Financial Services Committee (started at 7:00 am Pacific) and then tomorrow afternoon before the Senate Banking Committee…
Yellen said the U.S. central bank was on a path to raise short-term U.S. interest rates this year as the domestic economy improves even against a backdrop of global threats, largely sticking to a script she laid out in a speech last week…
“If the economy evolves as we expect (our emphasis), economic conditions likely (our emphasis) would make it appropriate at some point this year to raise the federal-funds rate target, thereby beginning to normalize the stance of monetary policy,” Yellen said in a prepared text for her semi-annual testimony to Congress. “Indeed,” she added, “most participants in June projected that an increase in the federal funds target range would likely become appropriate before year-end.”
We’ll see if the Fed actually has the courage later this year to hike rates for the 1st time since 2006 – we doubt it has the will, especially given uncertainty in the global economy and the negative affects of a strong dollar…ironically, the higher the dollar climbs on speculation of a rate hike, the less likely a near-term rate hike becomes…
Did China Inflate Growth Figures?
China’s economy allegedly grew 7% on year in the April-June period, unchanged from the previous quarter but slightly better than estimates from Reuters for a 6.9% rise…a spokesperson for the country’s statistics bureau insisted that the figure was accurate (of course), denying accusations that it was inflated, Reuters reported…other data released today showed June industrial output and retail sales also beating forecasts…we know the Chinese government is manipulating equity markets in that country…why should we not expect that they are also manipulating economic growth figures, especially at this sensitive time?…
Today’s Equity Markets
Asia
China’s Shanghai Composite slipped 119 points overnight to close at 3806 despite news yesterday that 2 Chinese funds – China Asset Management and Harvest Fund Management – are ready to buy stocks after raising $6.4 billion each sparked speculation that the money might be from government-backed institutions, Reuters reported…
Japan’s Nikkei added 78 points to close at 20463…
The Bank of Japan today slashed its outlooks for country’s economic growth and inflation, reflecting slowing exports and output amid a tepid overseas economic recovery, while maintaining its large-scale monetary easing policy…the BOJ said after the end of a 2-day monetary policy meeting that it now expects the economy to grow 1.7% in this fiscal year, down from the 2% forecast in late April, and consumer prices to rise 0.7% and 1.9% in fiscal 2015 and 2016, respectively, below the bank’s target of achieving 2% inflation in the first half of fiscal 2016…
Europe
European markets were up slightly today…
Amid a fractious political environment in Greece, Prime Minister Alexis Tsipras has defended the 86 billion euro ($95.2 billion U.S.) bailout deal, saying the deal he struck with lenders at the weekend was necessary to avoid exiting the euro…legislation on widespread reforms and spending cuts must be passed by the Greek parliament by tonight for Greece to secure its 3rd bailout…hardliners in Tsipras’ Syriza party who oppose more cuts are expected to defect during the vote…
North America
The Dow is up 7 points as of 9:00 am Pacific…the manufacturing sector in the New York region appearst to be finding some momentum in July as it managed to reversing the losses seen last month, slightly beating expectations, according to the latest data from the New York Federal Reserve…the general business conditions index in the Empire State manufacturing survey rose to to a reading of 3.9 in July, compared to June’s reading of negative 2%..
Bank of Canada Rate Cut
In Toronto, the TSX has climbed 73 points while the Venture is flat at 645…NexGen Energy (NXE, TSX-V) is up a penny at 86 cents, and has confirmed a breakout (re: John’s chart Monday) above Fib. resistance at 83 cents…
Bank of Canada governor Stephen Poloz cut the central bank’s trendsetting interest rate today by 25 basis points to 0.50%, a move that was generally expected among forecasters…Poloz also joined most analysts in predicting the economy fell back into a recession in the first 2 quarters of 2015 – the first time that has happened, “technically” at least, in 6 years…
NASDAQ 1-Year Weekly Chart
The NASDAQ is currently 11 points higher at 5116 and is looking increasingly bullish as it flirts with Fib. resistance at 5131…appears a breakout above this level is in the works…
Doubleview Capital Corp. (DBV, TSX-V) Update
We expect to have a fresh update by tomorrow on our continuing research into the Sheslay district situation after last week’s blockade and interruption of drilling at Doubleview Capital’s (DBV, TSX-V) Hat Project…as DBV stated, it’s reviewing all of its options to resume drilling as quickly as possible…armed with multi-year exploration and drilling permit MX-1-872, DBV has the full legal authority to resume drilling and BMR has confirmed this through government sources…
Public statements by Tahltan Central Council President Chad Day are inconsistent with many facts as we have already laid out, which is actually a disservice to his own Tahltan Nation…in our view, he is clearly using one of Canada’s premier exploration hotspots to strong-arm the province into a deal with the Tahltan Nation on a broad land use agreement covering all of Tahltan territory…this puts an even greater stamp of value on the prolific Sheslay district, a fact that Doubleview and Garibaldi Resources Corp. (GGI, TSX-V) shareholders need to appreciate…
We fully support the Tahltan Nation’s right to a sustainable future in their traditional territory…we have met many wonderful Tahltan people during our 2 years of coverage of the Sheslay district and its potential to become a new world class mining camp to the benefit of both the Tahltan and all British Columbians…
However, we have deep concerns over Chad Day’s militant actions (as even a growing number of Tahltan do), and if you share those concerns we strongly suggest you contact the following (our readers can make a difference here…we encourage you to pick up the phone and contact the B.C. government departments listed below – they do like to hear from the public – and lend your support to both Doubleview and Garibaldi, and district landholders in general)…
Kate Mussgrove – Executive Administrative Asst. For Mines & Mineral Resource Division: 1.250-952-0470
In addition, MARR (B.C. Ministry of Aboriginal Relations and Reconciliation): 1.250-847-9289
Below is an updated 2-year weekly DBV chart…strong technical support has been underpinning DBV since last week’s blockade news…note the horizontal channel in place since the beginning of the year…
DBV is unchanged at 13 cents as of 9:00 am Pacific…
Richmont Mines Inc. (RIC, TSX) Update
Richmont Mines (RIC, TSX) is holding steady this morning…of course there is some weakness in Gold in U.S. dollars but not Canadian, and that’s important regarding Richmont – exceptionally strong fundamentals and technicals with this exclusively Canadian producer…
On Monday, Richmont reported record quarterly performance metrics at its Island Gold mine (northern Ontario) of 14,997 ounces of Gold produced and an average daily mill throughput of 787 tonnes per day during the 2nd quarter of 2015…on a consolidated basis, the corporation’s second quarter 2015 Gold production totaled 26,314 ounces and Gold sales attained 27,566 ounces…this generated consolidated revenues of $40.6-million during the 3-month period, a new quarterly record for the corporation…
Richmont’s Island Gold mine operation in northern Ontario.
Richmont has a very healthy balance sheet including a cash balance of approximately $78 million as of June 30th, compared with $70.7 million at the end of March…
Technically, it appears RIC is poised to gain traction above a bullish downsloping flag as you can see on this 4-year weekly chart…
RIC is off 2 pennies at $4.09 as of 9:00 am Pacific…
Klondex Mines Ltd. (KDX, TSX) Update
Klondex Mines (KDX, TSX) has been another strong performer in the weak Gold price environment over the last year, given its high-grade operation in Nevada, and many analysts jumped all over this one to the point where overbought technical conditions emerged during Q2 as KDX surged to a multi-year high of $3.50 last month…a healthy pullback has been underway since then…a retreat to the nearest Fib. support level could occur, or at least a test of the rising 100-day moving average (SMA) around $3.00…
KDX is unchanged at $3.25 as of 9:00 am Pacific…
Cannabix Technologies Inc. (BLO, CSE, BLOZF, OTC) Update
The company that stands to benefit enormously from the growing social acceptance of marijuana is Cannabix Technologies (BLO, CSE) which has been extremely volatile since debuting on the CSE early last summer…development of BLO’s groundbreaking technology – a marijuana breathalyzer – is proceeding methodically (though never quickly enough for investors) with an alpha protoype recently unveiled…the company continues to work toward a beta version acceptable for 3rd party testing to assess the operability and measurement precision of the device for use by law enforcement…
BLO raced from a low of a nickel late last year to a high of 77 cents in February…it plunged to strong support in the mid-teens in late June and then put in a bullish engulfing reversal pattern, as John demonstrated, after an intra-day low of 13 cents June 24 followed by a strong close at 17 cents…
What’s encouraging about this updated chart (based on U.S. currency, OTC listing) is the move above resistance at the bottom of the flag…the key with BLO has been to take advantage of the high volatility in this play, and accumulate during periods of weakness and oversold conditions…
BLO is up a penny on the CSE at 21 cents as of 9:00 am Pacific…
Note: John and Jon both hold share positions in DBV and GGI. Jon holds a share position in BLO.
I’m surprise that Regoci and Bernier don’t put a news about Sheslay !
Comment by Guy Delisle — July 15, 2015 @ 8:32 am
I’m sure, Guy, we’ll be hearing from Regoci, at least, rather soon.
Comment by Jon - BMR — July 15, 2015 @ 8:51 am
And as expected, the BOC continues to be trailing from behind. And if I remember correctly, the BOC had stated earlier in the year that the economy was beginning to rebound. Makes me feel confident having them at the helm. Now, back to the nitty-gritty. If I remember correctly, next line of support for the CAD is 0.72, and if that fails it’s going down to the 0.60 range. Yes, yes, yes. Fun times ahead for Canadians. Buckle up boys and girls because we are about to hit some nasty turbulence.
Guy, I think it’s best for GGI and PGX to lay low for a little while until the issue(s) is resolved. That would be my strategy.
Comment by chris — July 15, 2015 @ 8:57 am
However gold is up $14Cdn to $1480 on the weaker Cdn$, great for Cdn. producers.
Comment by Bob — July 15, 2015 @ 9:04 am
Bob, you’re right. But let me be blunt, the price of gold doesn’t matter to people who have/or about to lose their jobs because bad economic policies.
Comment by chris — July 15, 2015 @ 9:08 am
I think Farshad knew Chad Day stop drilling if he started but he did not know when!
Chris it’s a chicken strategy !
Comment by Guy Delisle — July 15, 2015 @ 9:10 am
Prosper Gold was conducting soil geochemical magnetometer surveys over the target areas but no drilling.
Comment by Robert — July 15, 2015 @ 9:57 am
Just called the Ministry of Mines. First talked to someone else than Kate Mussgrove, and the person said they were fully aware of the situation. I asked what actions the ministry is/was taking to resolve the issue at the Sheslay District, and she passed me Kate Mussgrove. I emphasized that as an investor, I make informed decisions based on facts, and the fact is the Sheslay companies have multi-year exploration permit. Such illegal actions remove confidence in investing where is used to be a mining friendly jurisdiction. She took my name and said it is the Ministry of Aboriginal affairs that I should talk to. She took my name and phone number and will transfer my request to them. If no feedback, I’ll call them directly. I worked for the Canadian government before, and I can feel they will play ping-pong between Ministry on this. All, please call them and put pressure on both Ministries for quick resolution.
Richard
Comment by Richard_MTL — July 15, 2015 @ 10:11 am
Here is the email address for Fred Oliemans at (B.C. Ministry of Aboriginal Relations and Reconciliation) [email protected]
Comment by Andrew — July 15, 2015 @ 10:32 am
I sent Fred an email. Is there anyone is should forward this email to?
Comment by Sam — July 15, 2015 @ 11:07 am
Send an email right now, my english language is not enough good by phone and I encourage each shareholder of DBV, GGI to phone !
Comment by Guy Delisle — July 15, 2015 @ 11:19 am
Does anyone know if there are any nogoations at present through meetings with the Tahltan , the government and or DBV ?.
Comment by Les — July 15, 2015 @ 1:34 pm
Les, I suspect it’s safe to say this matter is now likely at the highest levels of the provincial govt. Farshad has options, as he publicly stated. Ball in his court and the govt.’s right now.
Comment by Jon - BMR — July 15, 2015 @ 1:46 pm
Here are some contacts at Aboriginal Affairs and Northern Development Canada (AANDC) if anyone wants to drop them a line on the Federal level.
Contacts.
Colleen Swords, Deputy Minister AANDC, 819-997-0133.
Emily Hillstrom
Press Secretary for Bernard Valcourt, Minister AANDC,
Office of the Minister of Aboriginal Affairs and Northern Development
819-997-0002
Media Relations
Aboriginal Affairs and Northern Development Canada
819-953-1160
Comment by Andrew — July 15, 2015 @ 1:52 pm
Yes Jon , I guess we are in wait and see mode and I’m sure Farshad is looking at all his options I order to get back drilling . Howerer the longer this remains unresolved the worse the effect on the company and the share price.
Comment by Les — July 15, 2015 @ 2:10 pm
Excellent, Andrew. Good work!
Comment by Jon - BMR — July 15, 2015 @ 2:13 pm
819-xxx-xxxx are Télébec line Valdor, Rouyn (Québec), Use to work for Bell Canada
Comment by Martin — July 15, 2015 @ 2:21 pm
Indeed Andrew .. nice job!!!! all of our ‘rhetoric’ on this site needs to be translated into calls and emails with content such as Richard articulated…. it is NOT about the SP or the future prospects as such, it is about the legality of the interruption and why is it being allowed to occur.
I submit that a common thread of decisiveness needs to be employed here…
It cant be about the fact that your investment lost money etc… it is all about the principal of the argument, and who is doing what about it. this can go all the way to the federal level since NO ONE WANTS to stand up up to FN’s,…….. we must begin… I for one am totally fed up with hearing about aboriginal plights, issues, money, loans, and etc etc etc… and I mean no disrespect but the owners of the keys to the issues are the ones on both sides that need to be hog tied and told to get along…
the amount of money spent and energy expounded on this stuff is exhausting to deal with at this level … cant imagine what the ones that are actually dealing with feel..
Everyone just smarten up and work together… spoken from my frustrated ideal world…. we have a chance here to voice it… so do so. NOW!~!~
Comment by Jeremy — July 15, 2015 @ 4:10 pm
Canada lowers interest rate…..people in BC real estate wouldn’t know its a recession out here! prices are rocketing upwards and affordablility is an issue here!
Comment by STEVEN1 — July 15, 2015 @ 4:35 pm
Here is a copy of an email I sent to one of the individuals at AANDC. I have left the email address out because I want to confirm that it is correct. I no longer have access to the Federal Intranet network so I am guessing at this stage.
Perhaps you will add my email to your growing list of complaints and forward it on to the Minister or at least please ensure that he is aware of this matter.
I wanted to send in an email to find out exactly what is the Federal Government’s response and the Minister of AANDC to the illegal blockade by the Tahltan Chief and 5 of the band elders last week (8 July) at the Doubleview Capital property in the Sheslay area.
It appears that now as the company has indicated the world-class potential of this 30 SQ KM plus area, Chief Day decided to throw up a 1 day public relations stunt in total contravention of Canadian law. The BC Government issued the multi-year permit and the Tahltan Nation signed off on the NOW (Notice of Work).
I realize these actions by Chief Day are all about money, power and politics but this type of civil disobedience should not be tolerated. There is only a short period of time in the year when companies can operate on these properties and any further delay is unacceptable to investor and the companies.
The Tahltan Nation members themselves have been doing the drilling through their company on the properties for a couple years now and exploration work has been going on in this area by various companies for over 52 years now. I hope that you do not let Chief Day rewrite history. This drilling is no where near any burial sites as confirmed by other Tahltan members and the river they referred to in the letter (since removed from their website) is 18KM away from the property and is already protected by BC law.
The Tahltan Nation also hold a 51% interest in the drilling company.
This Sheslay area could be a tremendous financial boom to BC and its citizens, the Federal Government, Tahltan Band and the companies involved if they are allowed to proceed with their activities. Mining and the extraction of mineral is a significant source of wealth to the Canadian economy.
Q. What is the Federal Government doing to resolve this current issue with the Tahltan Nation?
Q. Will the Federal Government support the exploration companies and ensure that full legals remedies and measures be taken against any future blockades?
Q. Will the Federal Government ensure that the RCMP are directed to implement their authority to act to protect the exploration companies in pursuit of their exploration programs in the Sheslay area as they are fully permitted and the duty to consult with the FN have been completed?
Q. Is the Federal Government going to tolerate these antics by this First Nation while you and your Provincial counterparts (BC) are negotiating their Land Use planning negotiations this year?
Thank you in advance for your response.
A citizen of Canada.
Comment by Andrew — July 15, 2015 @ 5:10 pm
This web-link may be of use to some.
Go to … Aboriginal Affairs and Northern Development Canada and to Organization and Responsibilities…
Comment by Andrew — July 15, 2015 @ 5:12 pm
Good job Andrew !
Comment by Guy Delisle — July 15, 2015 @ 5:53 pm
Martin,
FYI
819-xxx-xxxx is a phone number in Gatineau. The head office of Aboriginal Affairs is located on Wellington street in Gatineau.
Comment by Abicabic — July 15, 2015 @ 6:20 pm
Ok Abicabic,
I will look at all this,
Comment by Martin — July 15, 2015 @ 7:54 pm
Media coverage of the situation:
Read at Terrace Standard “Tahltan compare Sheslay dispute to Sacred Headwaters” …
Very concerned…
Richard
Comment by Richard_MTL — July 16, 2015 @ 4:29 am
Quoting: “Tahltan communications liaison Richard Truman said that Tahltan Drilling Services is a company once associated with the Tahltan Development Corporation but that the central council severed ties with it recently over the issues at Sheslay.”
Comment by Richard_MTL — July 16, 2015 @ 4:30 am
Richard, great job in getting that quote. Another questionable statement from the TCC, of which Chad Day is President. We know that the TNDC (the business arm of the Tahltan Nation and owned by the Tahltan Nation) was a 51% majority shareholder in Tahltan Drilling Services (TDS) from the drilling company’s inception in 2009 to about June 30th of this year (we reported this fact earlier this week), which means that since holes 1 thru 23 were drilled at the Hat under this ownership structure, the Tahltan Nation was essentially endorsing exploration in the Sheslay district (contrary to Chad’s claims), plus it also has a lengthy history in the district as we’ve outlined (contradicting Chad’s statements).
The specific reason for the change of ownership at the end of June, according to one of the owners of Tahltan Drilling Services we spoke to yesterday, was that Tahltan Drilling Services had to acquire financing, and TNDC apparently has no mandate to enter into loan agreements. So TNDC gave up its majority interest, and apparently received some monies. According to this owner of Tahltan Drilling Services, there was no pressure from Chad Day for the change of ownership, and he wasn’t aware that Chad even knew about this change as it occurred. It was announced at the TCC AGM in early July as we reported.
The facts are piling up by the day, and they aren’t looking good for Chad.
Comment by Jon - BMR — July 16, 2015 @ 4:44 am
BC regional director general of Aboriginal Affairs and Northern Development Canada (AANDC)
Eric Magnuson
Regional Director General
BRITISH COLUMBIA REGION
Aboriginal Affairs and Northern Development Canada
1138 MELVILLE ST, SUITE 600
Vancouver, British Columbia V6E 4S3
Canada
Telephone : 604-666-5201
Fax : 604-775-7149
email (usually in the form of) [email protected]
Comment by Richard_MTL — July 16, 2015 @ 4:55 am
Just sent an email to Eric Magnuson, DG / BC region AANDC, based mostly on email from Andrew. Thanks Andrew.
Richard
Comment by Richard_MTL — July 16, 2015 @ 5:03 am
“For its part, the Energy and Mines ministry is respecting both the Tahltan and the companies that want to drill in the territory. We respect the position of the Tahltan Nation and we are working with them and industry to resolve this matter in a way that benefits all parties, said a ministry statement. It is important to recognize that these companies have the necessary permits to undertake work on their tenures and they are within their rights to do so.”
Comment by Sam — July 16, 2015 @ 5:18 am
Same email sent to:
Gerry Salembier
Assistant Deputy Minister
Western Economic Diversification Canada (BC region)
333 Seymour Street, Suite 700
Vancouver, British Columbia V6B 5G9
Canada
Telephone : 604-666-6366
Fax : 604-666-1510
email: [email protected]
Comment by Richard_MTL — July 16, 2015 @ 5:26 am
Same email sent to:
Kathy Thompson
Assistant Deputy Minister – Public Safety Canada
Community Safety and countering crime branch
269 Laurier Avenue West
Ottawa, Ontario K1A 0P8
Canada
Telephone : 613-990-2703
email: [email protected]
Comment by Richard_MTL — July 16, 2015 @ 5:35 am
Enough for this morning, let see if they answer back in the next few days.
Back to work now !
Comment by Richard_MTL — July 16, 2015 @ 5:36 am
WRR MOVING TODAY! FINALLY BACK ‘UP’ A BIT WITH NEW BIDDING….JON: YOU SHOULD START TALKING ABOUT THIS ONE AGAIN ‘NOWADAYS’……AGM DONE, ETC…
Comment by STEVEN1 — July 16, 2015 @ 5:38 am
Last post this morning: if you are looking to contact any public servant in Canada, just go on the public website http://sage-geds.tpsgc-pwgsc.gc.ca/en/GEDS/
emails are not there, but emails are in a standard form: firstname.lastname@dept_en-dept_fr.gc.ca
To know the exact acronym for the department name in english (dept_en) and french (dept_fr), just go to the public website of the department, and look for the “contact details”. You will have a generic email but with the correct “@dept_en-dept_fr.gc.ca” email suffix.
Comment by Richard_MTL — July 16, 2015 @ 5:48 am
3 BID ON WRR……HEAVY BIDDING……
Comment by STEVEN1 — July 16, 2015 @ 5:50 am
Sam- where did you get that quote?
Comment by d4 — July 16, 2015 @ 5:50 am
From the link posted by Richard_MtL comment #25
Comment by Sam — July 16, 2015 @ 5:58 am
Found it…..
Comment by d4 — July 16, 2015 @ 6:00 am
Jon- we all know that DBV has the legal right to drill. Fortune metals also had permits so they were also legal but we know how that ended up. How is the current situation with DBV different? Under what circumstances can well expect a favorable outcome for DBV and the others in the Shelsay Valley?
Comment by d4 — July 16, 2015 @ 6:09 am
Yes, d4, it ended up very well for Fortune with them getting a massive cash settlement, and the possibility (down the road) of them returning to the project. The situation here is much different in part because of the history of Tahltan involvement in the Sheslay district – not just the fact a Tahltan Nation controlled drilling company completed the first 23 holes at the Hat, but the history in the area going back many decades. This is all about Chad Day putting pressure on the govt. for a land use agreement (and pressure on the companies as well for separate potential exploration agreements on his terms). That’s what everyone has to understand here. The public statements about opposition to exploration and mining in the Sheslay district – that is mere posturing on Chad’s part, though no doubt there are some Elders who are opposed to activity in this district – just like they were opposed to mining at Red Chris. Within the Tahltan Nation of about 2000, you do have a very small percentage who are just absolutely opposed to any exploration/mining activity anywhere on their traditional territory. But that hasn’t stopped many projects from going ahead.
Keep in mind also, the Fortune coal situation was near the Sacred Headwaters. Much different scenario in the Sheslay district – not the same sensitivities, though of course the Sheslay River can’t be touched. There’s an ideal area around the large Grizzly Central target which would be ideal for a mineral processing plant/tailings facilities – not near any lakes, rivers, or sensitive areas. That’s just one reason why Grizzly is so valuable – of course, it most likely has deposits as well.
Comment by Jon - BMR — July 16, 2015 @ 6:27 am
Gotta start wondering about the “one of the best mining jurisdictions in the world” that Canada is supposed to be. Issues with the aboriginals, government bureaucracies (see GBB)… getting ridiculous, no wonder the venture is such a disaster. In such a crappy mining market these are all tell tale signs in my mind of the final nail in the coffin. I’m a gold bug, contrarian, for all my life, buy physical gold monthly for the past 20 years, but this junior market is REALLY bad. Not sure it can come back.
Comment by Pete — July 16, 2015 @ 6:47 am
Hi Jon, I am in full agreement with your comments on this but as I see it there is a risk here called time. More specifically the length of time it takes for the province and Chad to come to some sort of agreement as you have alluded to. I have no doubt as to the potential quality of the Hat project, and I am extremely happy and impressed with DBV management. Forgive me for overstating the obvious here but the unknown risk here to me is how long will it take for Chad to get what he wants. Regardless of the fact that DBV has the legal permitting in place to drill, anyone who wants to see the true value of this project attained will need Tahltan approval whether now or in the future. It is certainly a game of chicken between the province and Chad but I want us to all understand the ramifications if this were to take months or even much longer to be settled. Remaining positive and patient here but a realist too.
Thanks
Comment by Jamie — July 16, 2015 @ 6:55 am
Jamie, you’re assuming that Chad and the province have to come up with some sort of agreement for DBV to begin drilling – no, that’s not the case. That’s one possible scenario but that’s certainly not the only possibility, so this may not drag on as long as you may think. Anything is possible. We just need to stay tuned and see what DBV and GGI have to say – I hope we hear something within the next several days.
Comment by Jon - BMR — July 16, 2015 @ 6:56 am
Jamie – As we don’t know what Chad Day’s intentions are this is truly concerning as their are many rumours he wants an agreement similar to another First Nations in the area. True it must be resolved quickly for all concerned.
Comment by Les — July 16, 2015 @ 7:17 am
Richard – I did a bunch of research last couple days. The “Sacred Waters” in your article is a definite major concern. If DBV is close to that area, then I would be concerned too. I received an interesting email yesterday, but I don’t know how to get it onto BMR site. I am going to be very busy till the weekend but will check in as much as I can. I know Jon and a lot of people are doing everything they can. I am wondering if the Government did enough research before issuing those permits to DBV. I am wondering if the Govt. did not realize they might be close to the sacred waters, then again, I don’t know if in fact DBV is close to those waters. I will hold off buying any more stock till this is resolved either way I only have a very small position.
Comment by dave — July 16, 2015 @ 7:27 am
Dave, there is already a Sheslay River Valley protected area that has been established (outside of the companies’ current exploration areas) and the Sheslay River itself is also protected under existing B.C. mining laws. It is also nearly 20 km from the Hat discovery – 20 km. The Tahltan allowed a bridge to be built over the Sheslay River to connect to the Golden Bear mine, they helped build that long access road (through a good part of the district) and carried out maintenance on it. Those are the facts. Again, why were the Tahltan so active in this area for decades, including having their own Tahltan-controlled drilling company carrying out the first 23 holes at the Hat, if they were in an area they considered to be so sacred and off-limits from exploration and mining development? Makes no sense, does it? May 21, 2015, was the first time Chad Day and the Tahltan expressed “concerns” over the Sheslay district. Consider the timing and the politics involved. Yes, there are certain sensitivities in the Sheslay district, just like at other B.C. mining areas in northwest B.C., but these are things that get worked out through negotiations.
I repeat…this is all about a bargaining chip for Chad Day in his attempt to get a broad land-use agreement completed with the B.C. government, and for leverage against the companies. As simple as that. His public posturing doesn’t square with the facts.
Comment by Jon - BMR — July 16, 2015 @ 7:30 am
Thanks Jon, makes sense. Back to the negotiation table. If DBV is not near those waters, there should not be an issue with the Govt. vs. Chad Day.
Comment by dave — July 16, 2015 @ 7:54 am
For those longer term thinkers with the stones to overlook the (hopefully) short term issues with Chad, a tremendous buying opportunity is presenting itself.
Comment by Jamie — July 16, 2015 @ 7:59 am
Also, I am hoping to hear from the guy that told me that Regotti was having major issues with one of the chiefs, remember I mentioned this when DBV was still in halt mode and sure enough, it was the news. He is not involved in mining, but has big ears and he is up there on a different type of mission.
Comment by dave — July 16, 2015 @ 7:59 am
Dave, you’re confusing something here – Chad Day’s comment was “comparing” the Sheslay dispute to the Sacred Headwaters – the Sacred Headwaters are a long way from the Sheslay district. He was just trying to draw a link between the 2 situations, which again is ridiculous. The reporter didn’t do his homework on this story, which often happens. Chad Day went to his favorite small town newspaper (he went to school in Smithers) and got the media article he wanted. As simple as that. But he also dug himself into a deeper hole. Too many inconsistencies.
Comment by Jon - BMR — July 16, 2015 @ 8:02 am
One question about DBV and Tahltan Do you think that he began to be discussed !
Comment by Guy Delisle — July 16, 2015 @ 8:32 am
Thanks for the clarification Jon.
Comment by dave — July 16, 2015 @ 8:34 am
You are welcome Richard. But I can’t take full credit for my email. John and Jon at BMR provided some of the information. Anyone may certainly use any of my comments (even if they are slightly dated) and use them anywhere they wish. No one can say that the Provincial and Federal authorities are not aware of the situation. One can only hope for an eventual agreement to be worked out including the main topic of revenue sharing.
Comment by Andrew — July 16, 2015 @ 8:53 am