RE: Gingerich at Parliament Summary of Gingerich's thoughts:
1) Permitting, even for exploration, is time-consuming and difficult in Nunavut.
2) Operating costs for exploration are 4X to 10X higher than in Southern Canada. I've been saying for a while, a full 10,000 meter drill campaign (with all the trimmings) will cost AXI $12 million to $14 million. The same program in the heart of the Labrador Trough will cost $3.5 million. This is confirmed by Gingerich.
3) Gingerich is having trouble raising cash from investors who seem to prefer the safety of projects in Southern Canada. Investors are frustrated with rate of progress.
4) LNG power barge! I dig this idea, but its obviously unproven for mining projects.
Gingerich confirms every point I've been hammering: Nunavut is too expensive to operate in, too difficult to permit, AXI is out of cash, procuring new investment is difficult, and the mine's business plan is based on unproven technology.