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Goldsource Mines Inc GXSFF


Primary Symbol: V.GXS

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.


TSXV:GXS - Post by User

Bullboard Posts
Post by Diamanteon Mar 08, 2009 6:29pm
220 Views
Post# 15829362

The exodus from coal!!!

The exodus from coal!!!

Coal plants checked by enviro campaigns, costs

In this Feb. 7, 2007 file photo, Sunflower Electric Cooperative's coal-fired power plant churns out electricity in Holcomb, Kan. Politically-connected coal companies are scrambling after federal subsidies for cleaner-coal technologies _ an exit strategy they hope will end the continual beating the industry is taking over climate change. (AP Photo/Charlie Riedel, file)
Inthis Feb. 7, 2007 file photo, Sunflower Electric Cooperative'scoal-fired power plant churns out electricity in Holcomb, Kan.Politically-connected coal companies are scrambling after federalsubsidies for cleaner-coal technologies _ an exit strategy they hopewill end the continual beating the industry is taking over climatechange. (AP Photo/Charlie Riedel, file) (Charlie Riedel - AP)
By MATTHEW BROWN
The Associated Press
Sunday, March 8, 2009; 12:00 AM

BILLINGS, Mont. -- Beneath the frozen plains of eastern Montana andWyoming lie the largest coal deposits in the world _ enough to last theUnited States more than a century at the nation's current burn rate.

The fuel literally spills from the ground where streambanks cut intothe earth, hinting at reserves estimated at 180 billion tons. But evenhere lawsuits over global warming and the changing political landscapein Washington are pummeling an industry that has long been the backboneof America's power supply.

In recent weeks, a group of rural Montana electric co-ops abandoneda partially built 250-megawatt coal plant, ending a four-year legalcampaign by environmentalists to stop the project. The co-ops plan toinstead get their electricity from a natural gas plant _ more expensivefor customers but also more likely to get built.

A few miles away, the U.S. Air Force dropped plans for a majorcoal-to-jet fuel plant once touted as the harbinger of a new market forcoal. There are no signs it will be revived.

Other plants are moving forward in Montana and at least a dozenother states, but the exodus from coal has hit every corner of thecountry. On Thursday, two more were shelved _ plants in Iowa and Nevadathat would have generated enough power for 1.6 million homes.

In Nevada, LS Power said it was postponing a 1,600 megawatt coalplant and will instead focus on tapping the state's geothermal, windand solar potential. Iowa's Interstate Power and Light dropped a 630megawatt plant as it pursues a 200 megawatt wind farm.

"In the last year the world has changed 180 degrees," said Bruce Nilles, director of the Sierra Club's "Beyond Coal" campaign.

In 2007, the Department of Energy forecast 151 plants would be builtin coming years. The agency's latest forecast put the figure at 95.

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Soon after the Energy Department released itsforecast two years ago, the Kansas Department of Health and Environmentbecame the first agency in the country to reject a permit for acoal-fired power plant, citing carbon dioxide emmissions.

Kansas acted six months after the Supreme court ruled that carbondioxide and other greenhouse gasses were pollutants that should fallunder the purview of the Clean Air Act.

Driven by the change at the White House, the political landscape forcoal is fast shifting. President Barack Obama _ once a reliablesupporter of the industry _ on Feb. 17 signed an economic stimuluspackage with $16.8 billion for renewable energy and efficiencyprograms.

The coal industry was left with just $3.4 billion. Congress hadearlier removed $50 billion in loan guarantees for coal-to-liquidsplants and the nuclear industry.


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