GREY:PGDIF - Post by User
Comment by
Kidlapikon Jan 12, 2016 11:30am
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Post# 24449793
RE:RE:RE:Decent Results - Pointing to Mine
RE:RE:RE:Decent Results - Pointing to Mine
The military or the city will most definately NOT help construct the road. The power plant will be a diesel fired operation exclusively for the project as if QEC(power corporation for Nunavut) was going to invest in increasing the power supply for Iqaluit it would do so at its proposed Hydro Electric site which would cost upwards of $1-billion dollars itself. The annual budget for all of Nunavut is roughly $1.3billion so it was deemed un-economical unless the Feds step in.
I do not believe it will cost a billion dollars to make a mine at Chidliak as Cudjo proposes as this is very close to Iqaluit and they have been preparing this project as an open mine operation. I would assume a smaller facility capable of roughly 500-1,000million carats a year focusing primarily on CH-6 with CH-7 being feed stock to add to mine life wtih the real goal of shoring up CH-10, CH-20 and string of pearls to further increase CH-6 mine life.
Either way if you have to raise $500million or $1-billion in this market with a share price at 0.11.............