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Compliance Energy Corp CPYCF

Compliance Energy Corp Is a Canada-based exploration and development company. The company is engaged in the exploration and development of resource properties. The firm is an exploration and development company working on resource properties it has staked or acquired, principally on Vancouver Island. It has interest in Comox Joint Venture (CJV), which holds the Raven Underground Coal Mining Project (Raven Project).


GREY:CPYCF - Post by User

Comment by mokitaon Feb 24, 2013 1:50pm
181 Views
Post# 21035368

People are against coal profits at DIRE costs

People are against coal profits at DIRE costs

You are missing four points.  

1.  There is NO social licence for the Raven coal mine as stated in CEC submissions to the EAO.  See a list of more than 70 local government, environmental, and community groups  on coalwatch.ca that have publicly opposed the mine or have serious concerns about risks given a "sham" environmental review process and studies that lack scientific rigour.  AMEC is in the business of getting mines through this sham review process.  Bottom line is cutting costs and increasing production.

1. Developing a coal mine in today's economy is NOT feasible and CEC production figures are outdated.  Analysis of costs indictes Raven coal mine is NOT economically feasible and coal companies like Cline cannot are defaultng on fnancial lones because they cannot afford the millions due annuallly.. 

2. Coal mines are generally sited in remote areas where toxic affects can be ignored.  It is UNPRECEDENTED to permit a coal mine just a few km from established communities and jobs that rely on a preserving a pristine environment.  See BCSGA website for its vigorous opposition to the mine based on its very real threats to water quality and to being able to market shellfish as grown in pristine waters. Baynes Sound is already contaminated from toxins from previous coal mining operations within the Raven tenure;

3.  Deregulation means coal mines like Quinsam mine can not only pollute watersources indefinitely, but can put off installing costly mitigation devices.  Despite about a decade of evidence of arsenic contamination of Long Lake, there is no evidence of attempts to mitigate.  The Chief Inspector of Mines reported new seeps into Quinsam Lake and while ordering QM to mitigate, did not provide a timeline, a fine, or a closure notice. He did however, increase its security bond to $7,281 million from $1.5, presumably on the basis of these new toxic seeps.  However, deregulation accounts for the fact that despite an appalling history of contaminating fish bearing watersources, the BC government approved an expansion.  While a government site listed QM as a potential high risk area due to AMD, the government has not upgraded or posted its graduation to a proven high risk area.

There is no room for compromise.  

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