OTCPK:MGMXD - Post by User
Post by
bocamanon Jun 06, 2010 12:15am
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Post# 17162284
Is Bute drying up?
Is Bute drying up?On June 3, Bute Hydro wrote to the chair of the federal review panel for the project to advise that "the Company has decided to extend the timeframe for developing the Bute InletHydroelectric Project (Project). We are extending the timeline for theProject for the following reasons:
- The Bute Inlet Hydroelectric Project did not receive an Electricity Purchase Agreement (EPA) in the 2008 Clean Power Call.
- While the recently tabled Clean Energy Act has provided some potential future development paths for the Project it appears that the likelihood of obtaining an EPA for the Project within a reasonable time period has been reduced.
- Taking into consideration the above, and with the potential to reconfigure the Project as the result of additional field study results, there is uncertainty on what the composition of the Project may be moving forward."
https://tinyurl.com/278vhx3
So what does that mean? Delay? Long delay? Really long delay? Like maybe too many fish and Indians who are too demanding or aren't interested in cutting any deal and the whole thing has become too costly?