Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:Another article on the Federal Budget and nunavut - Hydro

[Kidlapik]

Baffinland iron mine is the only reason that the QIA has ever ran a profit. It is such a money maker that Northern Inuit communities are banding together in an attempt to become their own birth right organization so as to be able to determine how the royalties for that company are spent as they are unhappy with how much of it is funnelled into Iqaluit based businesses.

That is not the only reason they are doing this but funny how it was never much of a problem until QIA actually started making a profit solely off of the revenue they receive from Baffinland from royalties + they have the catering/cleaning and I believe some shipping contracts with the mine.

Iqaluit the city is broke, in fact severely in debt. They would welcome another revenue source with open arms and they are by far the least traditional community in Nunavut. There population is something like 50/50 Inuit to Southern, most communities in the Baffin are 90/10 or higher.

However you bring up a good point. Hydro could be years away, tapping into these infrastructure funds could be years away and even that port could get delayed by any number of issues including but not limited to another terrible shipping season where ice clogs the bay again.