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A2ZCryptocap Inc T.AZC


Primary Symbol: V.AZC.P

A2ZCryptocap Inc. is a Canada-based capital pool company. The principal business of the Company is the identification and evaluation of assets or businesses with a view of completing a qualifying transaction. The Company has no significant assets other than cash and proposes to identify and evaluate potential acquisitions or businesses with a view to completing a qualifying transaction. The Company has not conducted commercial operations.


TSXV:AZC.P - Post by User

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Post by valiant2002on Dec 24, 2006 1:48pm
454 Views
Post# 11918878

This could be a big problem!!!

This could be a big problem!!! Published: 12.24.2006 County challenges mine claims' validity in Coronado Forest By Erica Meltzer ARIZONA DAILY STAR Pima County is challenging the validity of mining claims staked by a Canadian company in the Coronado National Forest. In a letter sent to the forest supervisor last week, County Administrator Chuck Huckelberry said the plan of operations presented by Augusta Resource Corp. suggests it plans to use unpatented mining claims on Forest Service land to dump waste rock, rather than for mineral extraction. For mining claims to be valid, the claimant must show the claim is valuable, meaning the mineral can be extracted at a profit after complying with federal, state and local laws. "In my opinion, this brings up the very obvious question of whether the Forest Service claims are valuable if claimants do not propose to improve them, but instead to use them as a dumping ground," Huckelberry wrote. In an interview, Huckelberry said the letter is part of the county's attempt to get more information about the proposed mine at Rosemont Ranch, southeast of Tucson off Arizona 83. "We're concerned about the mining activity," he said. "We still haven't seen the details." Augusta estimates the mine could produce more than 4 billion pounds of copper, 100 million pounds of molybdenum and 100 million ounces of silver over 20 years. Augusta needs access to 3,200 acres of Forest Service land to make the mine work. It owns other land in the area outright. The county does not have the final say on the mine, but for months Supervisor Ray Carroll, who represents the area, has urged the Board of Supervisors to pass a resolution opposing the mine. The other supervisors so far have said they want to get more information about the company's mitigation plan. The issue is scheduled to be discussed Jan. 16. No one from the Forest Service minerals section was available before Christmas to comment on the county's letter. The company is seeking a permit from the Forest Service to use federal lands for related purposes, like storing tailings. An early version of the plan of operations was sent back to the company seeking more detail. The company also needs to complete an environmental impact statement. The process could take as long as two years. In the letter, Huckelberry said the Forest Service should assess the validity of the mining claims before moving forward, possibly saving everyone time and money. Augusta vice president and project manager Jamie Sturgess said he hasn't seen the letter and couldn't comment on technical matters. He reiterated the company's desire to develop a mine with limited environmental impact. "We're trying to make sure our plan of operations is the best it can be," he said. In a November letter to county officials, Augusta agreed to five county requirements: meeting open space requirements, protecting the Cienega Basin, limiting the visual impact, practicing ongoing reclamation and creating an environmental endowment of at least $50 million. But Huckelberry said he wants more details on exactly how the company will comply and what will happen if Augusta secures the necessary permits only to turn around and sell the mine to another operator. Huckelberry wants the information in writing before the Jan. 16 meeting, while Augusta wants to make a presentation. "I think the county is approaching this in a very serious and diligent way," Sturgess said. "They're in an awkward position trying to review our plan when the ultimate decision rests with state and federal authorities." "We do care what they think, and we know they care what we do," he added. Carroll called Huckelberry's letter a "watershed moment." "I'm very happy that Mr. Huckelberry has approached it from that tack," he said. "It's very significant. We have a position that has solid legal grounds and solid support among the community." Other supervisors characterized it as part of an ongoing process of gathering information. "It's a continuing exploration of what is and isn't possible," said Supervisor Sharon Bronson. "We continue to be very concerned. This is a critical area. The Forest Service doesn't seem to be responsive and that's a challenge." ● Contact reporter Erica Meltzer at 807-7790 or emeltzer@azstarnet.com. All content copyright © 1999-2006 AzStarNet, Arizona Daily Star and its wire services and suppliers and may not be republished without permission. All rights reserved. Any copying, redistribution, or retransmission of any of the contents of this service without the expressed written consent of Arizona Daily Star or AzStarNet is prohibited
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