Greenhouse Gas Let's remind AXI investors of Gingerich's previous energy plan: use excess heat from the nugget processing plant to heat industrial parks and greenhouses. This was all in the investor presentation.
*
This latest alternative energy plan for Roche Bay, as Gingerich revealed in his testimony to Parliament, will be LNG power barges. Before being too taken in by this cockamamie plan let's remember the facts:
*
Number of mines in the world powered by LNG: 1 (Sunrise Dam in Australia)
Number of mines in the world powered by LNG barge: Zero
Number of LNG power barges in the world: Less than 5.
Current energy use in Nunavut by business and residents: 100% arctic diesel.
*
Maybe someone will figure out how to harness LNG power barges to power mines. It's a complicated process with a lot of parts including: a floating power plant, a re-gasification terminal, and a liquification terminal (there are currently no liquification terminals in Canada or the US, the closest one seems to be in Trinidad and Tobago). But the solution is certainly not coming from John "Greenhouse" Gingerich. That's for sure.
*
The last couple of press releases have let the cat out of the bag. The economics of the DFS are not looking good, therefore the hasty plan to quadruple the production rate and commission a ludicrous alternative energy plan. If the numbers were good then why delay the DFS? Is a delayed feasibility study ever a good sign? Buyers beware.