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Monday, January 21, 2013
Riversdale gets the (gold) mine (We get the shaft?)
With all the hoopla over a new coal mine opening up here in the Pass, so far all we have gotten out of Riversdale Resources backing up this 'proposed' mine project is a mickey mouse self-serving two page press release (with glowing self-promoting comments from the mayor appended to the bottom). Solely on the basis of that press release our mayor has gone on a media blitz screaming BONANZA!! As if there were actual gold in them thar hills that one could pick up and pocket tomorrow.
No project plan yet (in fact, this is still only a 'conditional' sale) that one can sink ones teeth into like with this one here that I just found on Dean Ward's blog...
Bingay Main Coal Project - Project Description
According to the information provided construction will begin next year on this new mine in the Elk Valley.
If mining is to come back to the Pass by way of Riversdale Resources there is obviously a lot of work that has to be done, and years it will take, as we can plainly see from the project description above.
Which begs the question. Why all the hoopla at this time from the mayor based on nothing more than a two-page promotional press release, while at the same time acting as Riversdale's one-man PR firm? Much like what our previous mayor did with the 'gold dust twins' from River Run. Do we have another case of déjà vu here? More speculation than anything else? After all, reading up on this company's track record they do appear to have been more successful in being 'mine speculators' (promoters) than in being actual 'mine operators', now haven't they?
Or is it as simple as this is election year, and the mayor is in campaign mode pushing yet more pie-in-the-sky dreams that have yet to turn into reality, and very well might as in the case of River Run, turn into yet one more big nightmare instead?
Can't wait for February 6th, when Riversdale's head honchos appear to hopefully give us more than a press release. Like cold hard facts with timelines and such. Otherwise no amount of further such meetings, guest appearances at the local chamber of commerce, etc., and on-going cheer-leading by our local print media leading up to election day is going to fool a community of miner's, who knowing the business, not being a bunch of 'wide-eyed' investors easily fooled by River Run Boys sharpies, in addition to being once burnt twice shy, are going to buy into this. Show me the money!
In other words, they had better have their act together right from day one on February 6th. Otherwise, they could very well find themselves tarred-and-feathered and run out of town, faster than a Kangaroo being chased by a bunch of wild dingoes hungry for a meal. You hear me Mates?
A cynic is not merely one who reads bitter lessons from the past, he is one who is prematurely disappointed in the future.
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13 comments:
Who are we going to import to tar and feather them, much less run them out of town, All our present local problems have to mysteriously diappered. No more talk of the firefighters plight as a matter of fact, they seem to have amalgamated with the imported firemen. So much for that baloon. All fizzled out like all the problems we have here.I liken it to a one night stand, and then a couple of days of grumbling,from the masses, and then it"s WHAT PROBLEM?
John, the document "Bingay Main Coal Project Description" is a document produced more then three years after the "Conditional Sales Contract" was signed. To suggest the Riversdale group are shysters because their plan is not up to par with the new BC mine is ridiculous.
I know you are pissed the Mayor and council are trying to get some political mileage here but this unbalanced post makes you look bad.
Anon @8:39
That's not what I was suggesting at all. What I said or thought I said is that the mayor and Riversdale are trying to come across as though a mine will be operational lickity spit when from the Bingay Main Coal Project Description it clearly will take years before that happens, if it happens, considering this company's reputation for being perceived more as mine promoters than mine operators. No where am I suggesting they are shysters but if they are in fact just using us to promote their stock or other investments then this community of miners is not stupid, is what I'm saying.
Yes, the one thing yo are right about is I am pissed at this mayor for putting the cart in front of the horse on the economic front while increasing our costs, tearing our community apart, terminating TITV, decimating our fire department and volunteer base, stringing us along on pie-in-the-sky promises that never seem to materialize... and I could go on and on, but I think you get the picture.
Nothing personal here, strictly business. In the sense he has been a poor business manager who has done his very best to destroy the spirit of this community, and that for one pisses me off, as I'm sure it has done to many others here in the Pass.
JP
Our previous mayor appeared in promotional videos, but I don't think he staged corporate promotions in CNP facilities using CNP staff and resources, as these guys seem to be planning on Feb. 4.
I think I mentioned this many times before. This is not a mining company. These are mining promoters. ( But I do get a bit of a chuckle as to what happened in regards to Rio Tinto's folly involving this same company and a similar scenario).
Why not wait until Feb 4 to see what is presented? We all know how the Mayor operates. He isn't fooling anyone. Maybe the locals will get a chance to "contribute" more than 10 minutes per year at council meetings after this Show.
Riversdale is not asking locals to invest, rather is going to explain it's proposed program. Promoters they may be but it's hard to place the blame on them for being part of a faulty African operation in which two BIG companies (Tata and Rio Tinto) owned nearly 85% of the operation. Several banks have to lay down the FIRST $63 million, "some of which will go to pay for the local leases". Some will be spent on initial local work, what's wrong with that?
Jose
I think things will be progressing quicker than you think. I think it is a win win for us. Sometimes you just have to let bygones be bygones. It could drive a person crazy if you don't. Old baggage is not good for anyone.
To anon 8:39 I guess we know whose side you are on. John is just trying to be informative and point out the pitfalls. I guess you fall into the guillable segment of the locals and there is no fix for stupid.
anon5:52 DREAM ON, reality will hit you when you wake up.
I do not believe there should even be "Sides". We are not in kindergarten, pick me, pick me. Man....
I would like to know a few things....first;why have none of the adjacent landholders to this proposed mine been contacted yet? To date not one of them has and second....why does this big Australian coal company not have a public website?
And they are doing an IPO in June in case anyone is curious as I am.I have spent many years taking mines from remote exploration to producers so forgive me if I think somethings rotten here.I feel sorry for Mr. Gallant who seems out of his league as far as mining is concerned,he has not a clue and I feel sorry for the pass and what he will probably put it through before we go through another big development that is not going to happen.
5 years of exploration drilling and enviro studies,then you have to deal with the ASA(good luck with that) and the south saskatchewan plan that will pretty well shut down all of that area.Some pretty gullible and ignorant folks running this town right now.
oh,and a coal mine on grassy would pretty well kill any tourist activity we have and we could become another sparwood.A coal mine on the adanac would use lynx creek as a dump like previous,the whole area would be fenced,gated and locked.
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