Partnership, a court challenge and the price of copper and gold were under discussion on Wednesday
Terrane Metals (TSX: T.TRX, Stock Forum) shares were off 2.34% to $1.25 in Wednesday trading.
The company recently received environmental assessment approval from the government of Canada for its Mt. Milligan copper-gold project north of Price George, but the company still faces a court challenge from the Nak’azdli nation, whose traditional lands encompass the Mt. Milligan project.
Construction at the mine was slated to begin in the second quarter, and it had expected to have production by the end of the year. However, the company and the provincial government will be in court March 22 hearing a case to launch an appeal of the province’s decision to approve the project, based on the complaint that it failed to consult at all with the Nak’azsdli during the environmental approval process. Few posters believe that this will halt the mine.
Instead, posters to the company Bullboard were mulling the idea that Goldcorp (NYSE: GG, Stock Forum; TSX: T.G, Stock Forum) could expand its 59% equity interest in Terrane. The former company has an option to convert its equity interest in Terrane into a participating joint venture in the Mt. Milligan project, but the option to do so will expire January 8 |
