RE:RE:RE:RE:RE:Another article on the Federal Budget and nunavut - HydroHere is a nice timeline snapshot of Baffinland --
Baffinland article One might read it try portray how long a mine takes to develop in North.....50 years?
brahahaha.
Reality is it took the Chinese super cycle to move Mary River into a very very sweet spot by pushing iron ore prices historically up, up and up.
Mary River was literally dead in the frozen arctic water for decades for very, very good reason.
The iron ore prices of the day didn't make it viable. I wouldn't say the iron prices were low back then...because back then...that was normal for iron ore prices...so how can one say that it was low. Much higher now...but you can't criticize a mine with hindsight vision when you don't try to nromalize to the timeframe.
Mr. McCreary sure had patience. Wow. and it did pay off in the end...not the way he would have liked...but he would have rec'd a boatload of money in the end.
Here is an article on Murray Watts who discovered Mary River in 1962 --
Murray Watts LONG...PGD
EKIM