TSXV:CAV.H - Post by User
Comment by
canneon May 04, 2015 12:30pm
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Post# 23691528
RE:RE:against the tide
RE:RE:against the tideMining, I have not looked at the board for some time so I had no idea where you were and since you are one of the only people with anything worth reading posting on this board I would see your leaving as "capitulation" given the latest financing news. I agree that Kores has far too much at stake here to not push it through to success, this however does not necessarily mean success for BAJ. Ten years ago, I attended a BAJ AGM and spoke to Greenslade, when I asked him what the biggest problem facing BAJ, he said it was keeping it out of the hands of financial manipulators. He failed to do that.
I also spoke to the chief of the engineering group at the time and got a very good overview of the project as I could speak with some knowledge of the project as I grew up in Kimberley (home of the mighty Sullivan mine) and live close to the smelter in Trail which processes mainly lead and zinc, the zinc being refined by electrolysis. The elecrolytic part of the refinery uses around 120 megawatts of energy making it a very large operation. As an electrical utility worker, I did occasionally enter the zinc plant to test equipment ( these plants are awful places to work - sulfuric acid gas) I was intriqued at the time to find out the BAJ operation intended to manufacture its own sulfuric acid and use the heat generated to partially run the electrolytic plant. I realized at the time that this was not going to be a penny antie operation as the sulfuric acid plant alone was an operation within an operation and to attach generation to it as well made the project complex without even considering the refining part.
I may post negative comments at times because I admire the parties concerned with the concieving, building and operating of the Boleo project but am disgusted with the fact that BAJ has been sidelined and shareholders have been left out of this engenious and no doubt ultimately successful project.