Advanced Explorations Inc. ADEXF

Hope Bay Permitting

[HVAN1]

Doris North Gold Mine (now part of the Hope Bay Gold Project, recently written off by Newmont) submitted a project description to the Nunavut Impact Review Board on March 1st, 2002. After a long process the Project Certificate allowing construction to begin was issued on September 15th, 2006. That's 4.5 years of environmental permitting!

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When Newmont killed the Hope Bay Gold Project, writing off $2.1 billion in costs, blame was specifically placed on the difficulty and delays involved with doing business in Nunavut:

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"But Newmont couldn’t reach an expected agreement with the KIA on Inuit land use tenure and an Inuit impact and benefits agreement for the second phase of its expansion.

 

KIA president Charlie Evalik says money was not a sticking point, but, according to a person who was not authorized to speak publicly and who spoke on condition of anonymity, the KIA may have asked for too much before the mine had even reached production."

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Don't believe the liars on this board. The facts are that the Nunavut environmental permitting process is very long and can kill even promising projects run by majors.

[Tepin]

The Permitting Process in Nunavut is not easy, I totally agree. Anyway you can't compare a gold mine with an iron ore operation. The environmental issues are much more complicated for gold mining than for iron ore. As you can read in the article below the government is aware of the problems regarding the permitting in the north. Anyway the official permitting process takes 18-24 month in

[rpdeluca]

Thank you Tepin as this was going to be my next post.  Look at the dates this moron is providing.  I guess he does not believe in PROCESS.  The Federal Gov't has made a commitment to expediting the review and approval process and along with the Nunavut gov't both have admitted that the past approval process is not efficient and cannot continue moving forward if they want

[HVAN1]

Why do I say Nunavut kills mines? Because it does: * Tahera opened in the Jericho diamond mine in 2006. It failed in 2007. Shear Diamonds was formed to re-start the Jericho mine this year. It decided to stop operations a couple of months ago. Hope Bay and $2.1 billion in expenses were written off by Newmont after surviving the long permitting process and actually beginning construction. 

[HVAN1]

Gold, Iron, Diamonds, whatever. No mine seeking a permit in Nunavut has enjoyed an 18 to 24 month process. 3.75 years has been the minimum in the history of Nunavut Impact Review Board reviews.  * There's absolutely no evidence for the wishful thinking that Nunavut will permit more quickly in the future. Look at the companies currently in the review process, like Baffinland. Has

[rpdeluca]

Oh now Baffinland is not a sure thing?  And do you assume that ADV is a sure thing?  Your statements are absolutely stupid.  Yeah nothing is a sure thing especially in the junior mining companies. 

[HVAN1]

If a massive 70% FE deposit were in the heart of the Labrador Trough, with access to cheap power, skilled labor and a winter that human beings can work in, it would be a sure thing. Baffinland is in a really bad location and a really bad mining mining district, so it faces headwinds.

[Tepin]

Oh wow, one of the largest steel companies in the world invests a few hundred Mio CAD in the take over of Baffinland. This must be a sign that Acelor Mittal is not confident in the success of the Mary River project. What a silly world.  Yes this were your words when discussing Hebei's investment in ADV. If Hebei knows what they do I am sure Acelor Mittal knows even better. Tell the people

[rpdeluca]

Funny how you mention cheap power and skilled labour but don't mention lack of rail capacity and escalating costs.  If Baffinland were in the Labradour Trough, they would have no chance of getting to market due to lack of rail capacity.  Plain and simple...where would you put their 20 million tons of iron ore per year...on your back?  Hence why your posts are absolutely useless.