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Post by likeike on Dec 13, 2023 17:42:47 GMT
elements.visualcapitalist.com/visualizing-minings-footprint-in-british-columbia/A Tier 1 Jurisdiction for Mining British Columbia covers almost 95 million hectares (234 million acres), more than any European country except Russia, and more than any U.S. state except Alaska. As the largest mining province in Canada, BC registered $18 billion in revenue from the industry in 2022. British Columbia stands as Canada’s sole producer of molybdenum, which finds applications in metallurgy and chemistry. Additionally, B.C. is the country’s leader producer of copper and steelmaking coal, besides gold and silver. B.C. mined material breakdown At the heart of British Columbia’s mining industry lies the Golden Triangle, one of the hottest mineral exploration districts in the world. More than 150 mines have operated in the area since prospectors first arrived at the end of the 19th century. The region alone is endowed with minerals worth more than $800 billion.
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Post by likeike on Feb 24, 2024 14:47:39 GMT
B.C. government’s plan to co-manage public land with First Nations will close province for business
— January 31, 2024
B.C. government’s plan to co-manage public land with First Nations will close province for business
British Columbia has long struggled to attract investment, and keep and grow successful entrepreneurs and businesses, a critical lifeblood for any economy. This struggle has gotten progressively worse as the provincial government introduces new policies that make it increasingly difficult for businesses and entrepreneurs to thrive, ultimately imperiling living standards in the province. Now, the government is quickly and quietly moving towards co-management (alongside more than 200 First Nations) of all Crown land (i.e. public land), roughly 94 per cent of the province. This would be a death knell for investment in the province.
Between 2010 and 2019, the decade preceding COVID, B.C. attracted less private investment per worker than the national average and well behind Alberta, Saskatchewan and even Manitoba. While B.C. fared slightly better in 2021, the latest year of available data, the province’s per-worker investment remains only 62 per cent of the level in the United States.
As expected, the lack of business investment has produced lower incomes. According to a recent report comparing the median employment income of 59 large metropolitan areas in western Canada and the western United States, of the bottom 10 cities, five were in B.C. And Vancouver, the province’s commercial hub, ranked 47th at CA$37,300, far behind top-ranked Silicon Valley (CA$73,895).
In B.C., poor government policy drives a poor investment climate. Consider our business tax system, which includes the highest total tax rate on businesses in Canada. A study published by the University of Calgary found that in 2020, B.C.’s total business tax rate, including federal business taxes, was 25.6 per cent, dwarfing the national average (15.6 per cent) and the rate in neighbouring Alberta (12.1 per cent).
On the regulatory front, a 2022 survey of mining companies ranked B.C. 27th of 62 jurisdictions for mining investment attractiveness and a 2023 survey of petroleum companies ranked B.C. 15th of 17 jurisdictions for its investment attractiveness. Both surveys cited the same three risks as inhibiting investment—land claims, protected areas and environmental regulations.
Just how economically damaging are these risks? According to the B.C. government’s own economic estimates, its regulations to reduce greenhouse gas emissions (GHGs), known as CleanBC, will cost the province $28 billion in lost economic activity by 2030. In other words, by the end of the decade British Columbians will be $4,600 poorer per person than they would be without these regulations.
Which brings us back to the provincial government’s plan to co-manage all Crown land with more than 200 First Nations. The government wants to “share decision-making” on all Crown land by this spring. In other words, within the next four months or so, the government hopes to introduce an entirely new regime where the government and First Nations jointly make decisions about land-use on public lands.
Make no mistake, this change will have massive consequences for B.C.
Currently, British Columbians, through their elected provincial government, are the final decision-makers about what happens on public lands. According to the government, the “Land Act is the primary article of legislation that is used by the government to convey land to the public for community, industrial and business use.” That covers everything from how the land is used for communications and electricity transmission towers, to mining, tourism, agriculture and transportation infrastructure. The Act also covers lakes, rivers and the coastline, which impacts anything on water including future hydro projects.
In essence, if the government changes the Land Act according to its co-management plan, First Nations will become joint landlords of more than 90 per cent of B.C. and own veto power over any decision British Columbians want to make for our province.
It’s hard to overstate the chill these proposed changes would have on B.C.’s investment climate, particularly given existing concerns about land claims and regulations. The province will become essentially un-investable in many industries that do business on Crown lands or water.
Clearly, the uncertainty and sheer magnitude of this proposal deserve closer scrutiny by British Columbians who should have a greater voice in these proposed changes. To say that the government is rushing and not being fully transparent with such a monumental change in legislation would be a generous understatement. The economic and fiscal implications of these changes will be profound, and the provincial government has failed to disclose any economic impacts.
At a minimum, the government should delay the implementation of these changes and allow a robust debate to occur. More fundamentally, changes of this significance ought to be decided by British Columbians through our electoral process—either an election or referendum. That’s how unprecedented and profound the move towards de facto co-ownership of all Crown lands is to the future of our great province.
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Post by likeike on Apr 8, 2024 21:58:23 GMT
by @juniorgoldentriangle-ers on 8 Apr 2024, 14:35
You Can Not Have Money
“You can not have money.” These are words of my dad. “You can use money to make things happen, that’s it.” Dad says the most important investment book that you will ever read is the one you write for yourself.
This is mine.
Traveling along the Trans Canada Highway, somewhere in time between JFK and “the moon landing”, I visited my grandparents. It was a long trip. At Lake Superior we made a pit stop and got back in the car. I’d picked up a rock. It could have changed my life. Although I was a mere six year old child, I was not a fool. The tiny flecks that sparkled in quartz were not iron pyrite. I gave the rock to my grandmother. She knew what I had given her.
A little upstream from where I had found that rock is now the Hemlo mine of gold. It wasn’t there when I found the rock. I had found gold first, yeah! At age six however, I had better things to do with my life than develop a mine. Seriously. The treasure of a treasure is in the finding, not in the keeping. I’m more of a prospector at heart and as a senior, I’m looking at juniors - miners that is, in the Golden Triangle.
First my Dad and Mom. They were both insane about money. They grew up in the dirty thirties depression, north and south of the continental divide.
Dad started life on the worst farm to be born onto, bedrock. Nothing grows. Dad was a Canadian hillbilly. Lakes, bush, and rock. Bedrock was all his family could afford after the stock market crash of 1929. Dad spent his life waiting and saving, in his own way trying to fix the crash, and the life-long effects that he had inherited. His steel beam mansion overlooks the lake of his childhood.
Mom was a real yee-haa hillbilly. Her family lost the civil war. Everything that could be carried away by the retreating soldiers was lost too, except for what was hidden underground. Protected in a knot hole of an intentionally burnt log was enough gold to re-start the farm.
One generation later the American government confiscated gold. The gold had been invested into the dirt of the land itself. The physical gold confiscation began in 1933 and continued through to 1974. Look it up.
The “dirty thirties” never ended for either mom or for dad. Dad played the strong long, and mom was squirrelly. They tried to teach their children how not to be poor. But it didn’t work. If you grow up rich you may be broke, but you can’t be poor. (The reverse is true I suspect, but you can’t say that in North America.)
Anyway, at age twelve my job (non-paid) was to take stock market prices by phone from a stock broker for dad. What I learned was that poor people get excited counting money, and rich people get excited counting receipts. I had neither. I was twelve.
I had a paper route, but at home I was surrounded in someone else’s paperwork. Research and receipts and stacked towers of Wall Street Journals. In the basement there were shelves of Annual Reports. An amazing art form of photography, illustration and layout to show or hide numbers.
Some numbers you don’t want to know anyway, like the steps of the four flights of stairs that I had to vacuum. If I’d counted them back then, I would have had to carry that number till now.
At twelve I learned that you have to look after the wealth of stuff. Our three storey house had four floors of carpeted stairs. Shut up! Not interesting. On my paper route I saved $75 but it was confiscated for a family trip. Still not interesting.
But the unknown, outer space, and the freedom of adventure, that was interesting. I would become an astronaut some day. “To the Moon Alice”. When I was twelve, however, I wondered about things, silently. Like why my investment counsellor dad was 50% wrong?
In spite of looking carefully, I continually missed predicting the conspiracies of JFK, UFOs, Y2K and 911, but on December 30th 2019, I finally found a lucky strike. It was not a rock in a creek this time but a massive pre-cover-up of a pre-crime. The conspiracy channels that I was subscribed to, all 120 of them, were terminated at the same time. Something BIG was up.
Think about it, what would you have invested in? Airlines, no. Cruise ships, no. I knew I could have invested in bitcoin at the time and would have made my 100K into a million but I didn’t. I followed Dad’s 50% right advice and added my own figuring. Together we rightly guessed that gold would be panicked. Pritium (PVG), the Brucejack gold mine in the Golden Triangle of British Columbia was the right place to invest in early 2020.
The Brucejack mine got built back in 2015 with China Zijin mining company investment, in exchange for 10% ownership of the mine (12M shares at C$6.30 per share = C$80M). Gold was at US$1100/oz. Fair enough.
But Pritium (PVG) no longer exists. What? It was taken over in 2021 by Newcrest at C$18.50 per share. Why would China help build a mine and then lose it? This doesn’t make sense. Was China actually behind the takeover under the guise of the Australian Newcrest Mining Company? But Newcrest also no longer exists. Wait, what?
In 2023 Newcrest was taken over by Newmont (NEM), the largest producing miner in the world. Was there a double cross against China? Newmont (NEM) then sells six producing mines. Exempt from the sales were the Golden Triangle mines: BruceJack, Red Chris, Mount Polley and Galore Creek. This article should end here with the question: “Which claims in the Golden Triangle will yield profitable mines?” The gold rush is on. Find out. Figure it out yourself.
Here is a list of juniors: Descending order by market cap.
$SEA $SKE $AOT $DV $TUD $DBG $TAU $GOT $TUO $ESK $ENDR $BBB $SCOT $LBC $TDG $SKP $EPL $GSTM $BWCG $GGI $TWR $PGLD $DEC $SAM $PRR $STA $AWX $MTB $MTS $JUGR $KFR $RG $SASY $COCO $HANS $EVER $ETR $ALCU $CUH $TMET $ORGN $GOR $FABL $MUSK $OWN $TANA
The end.
But the article keeps going. Stubbornly, after Pritium (PVG), I invested everything into a junior that “might become a mine”. Dad said, “Follow the geologist that turned Brucejack into a mine.” But dad was 100% wrong.
This past year, while gold is at all-time-highs, the 46 “junior miners” of the Golden Triangle from March 2023 to March 2024, were flat.
My figuring on a spreadsheet shows:
- If you bought all 46 juniors and held 0%.
- If you bought all 46 juniors at their lowest and held +185%.
- If you bought all 46 juniors at lowest and sold at the their following highest +232%.
- And if you had bought all 46 juniors at their highest, then sold at their following lowest
(-201%).
If you made 46 best choices in buying and in selling, or made 46 worst choices in buying and selling, the range of outcomes is only plus or minus 200%. What strikes me as odd is that if you bought all 46 junior miners or bought nothing at all, the outcome would have been the same. Zero. This zero average for 46 juniors in a year when gold increases 10% is odd.
What is interesting, and what I haven’t figured out yet is, why did 16 of the 46 Juniors rise from their lowest price of the year to their highest price between the two months of February and March of 2024? Hmmm.
My pick of the Juniors that I still own is Tudor Gold (TUD). It is down -32% in the March 2023 to March 2024 year. Mr. Eric Sprott’s insider investment in 10 of the 46 Juniors is up 50%.
The article should end right here with the following: “I’ll have what he’s having.”
The end.
But the mysteries accelerate. The Brucejack mine was built on the 2015 price of US$1100/oz. Bill Bonner recommends in his article “How to Time Gold Mining Stocks”, to buy at the boring engineering phase. He doesn’t mention the “will it ever become a mine phase” that the Junior Golden Triangle-ers are in.
At US$2300/oz. what gives? And Newmont is selling six producing mines.
“You can not have money. You can use money to make things happen. That’s it.”
Brucejack produces 8% of Newmont’s gold. Perhaps they will use the money to develop….
Dad said follow the geologist to Tudor Gold (TUD) the junior. But Tudor Gold was just given the most scathing of reviews based on geology. Crux Investor essentially says that it will never be a mine.
Wait a minute. How could a geologist who was so right the first time in building a successful mine be so wrong now? How could Mr. Sprott, who made 50% while 46 juniors were flat, be wrong?
The closer I look at my own spreadsheet the more questions it asks of me. The 16 juniors that had their yearly low, followed by their yearly high between just the two months of February and March of 2024 meant what?
Ukraine attacks Russia, Israel attacks Iran, USA attacks itself, western war ships are in the Middle East, gold is at all time high. In Canada a class action lawsuit is launched against short selling rules and the BC provincial government is court ordered to rewrite the prospecting and claim laws. Even in Canada, something is up.
I’m not an investment counsellor, I’m an investment counsellor’s son. Here’s some advice. The investment counsellor’s done.
- Research, and spreadsheet the juniors. (ceo.ca is helpful).
- Follow the BC law changes.
- Guess what Mr. Sprott will do.
- Guess what Newmont will do.
- Look into the digital central bank currency roll-out.
- Look up the history of gold confiscation.
- Consider crypto confiscation. (That’s why I’m not in crypto.)
Dad, this time, you are 100% right.
Thanks dad.
The end.
Note to contest: Please consider this article to publish. Use it however you like but not as eligible for a prize. I want to remain anonymous. Thank you for this chance to honor my dad, in his domain.
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