My position on Canarc's management is changing.
The Eureka deal does not look well researched to me and the following post articulates some good points about the risks. I looked into it further and found the Horsefly River is also the spawning grounds for a unique strain of rainbow trout and it is one of the largest species of rainbow trout in BC. "I would have to agree and I am disappointed with this decision. Ongoing costs (dilution?) need to be considered here too. Some other aspects that are concerning...... First are the Native issues that BC is notoriously famous for. They are still holding Taseko Mines at bay on a large gold/ copper project west of Williams Lake. This has gone on for over a decade and Taseko Mines has spent well beyond $20m trying to resolve this and still have nothing but continued Native resistance to show for it. CCM's Eureka project is East of Williams Lake and I see nothing in the news release that shows that any of the local Native issues have been addressed. Second is the environmental sensitivity of this area. The Mackay River area hosts Grizzly bears, Wolverines, Caribou etc and the river is immediately downhill from the main claim area. The Mackay flows directly into the pristine Horsefly River which flows directly into the pristine Quesnel Lake. Quesnel Lake is the largest fjord lake in the Western Hemisphere and home to BC trophy rainbow trout and char exceeding 20 lbs. It also hosts one of the largest Sockeye salmon runs in BC. The world was not impressed with Polley Mine when their tailings dam breached and tailings ended up in Quesnel Lake in 2014. https://www.youtube.com/watch?v=VYYwzAvQIF8 This disaster only reinforced the local Native's resolve to impede progress in mining projects in the Cariboo/ Chilcotin Region and across BC. I was hoping Canarc's management would acquire high grade properties in mining friendly jurisdictions so this low grade Eureka project with the considerable Native/ environmental risk seems poorly thought out and a waste of money to me." https://investorshub.advfn.com/boards/read_msg.aspx?message_id=124820331