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Wow. I am new to the board and new to DFO reviews, but I can't imagine a mining company receiving a worse environmental impact review on the plan's fishery impact. If the company has a better plan to offer they should have offered it in place of this disaster of a plan.
I was looking at the stock for possible purchase but this DFO report sure looks like a deal killer to me. I will allow that Canada may be much less stringent than in the U.S., but it can't be willing to buy off on this plan and I can't help but believe this plan poisoned the well for future revisions. Am I missing something here?
You say you're new to the board and to DFO reviews yet you've decided that this is a 'deal breaker' and that the current plan 'poisoned the waters for future revisions'.
Are you also new to mining stocks? The one guarantee you have is that the permitting process will never be a smooth ride. This is just another bump in the road. TGB will make the necessary changes to their plan and the DFO will be happy again.
DFO's responsibilities under Canadian Law seem very specific and that's what they speak to.
If you read the language at the end of their actua 3/12 written submission, you will see conciliatory language to all concerned, recognizing that their responsibilities are but one consideration in what is, on a case by case basis, a much larger picture and has many different and varied considerations.
They also implicitly and explicitly acknowledge to the Panel that they understand how important this decision is - presumably because of its scope, its overall potential impact locally and throughout Canada, the obvious economic considerations, and on and on.
They clearly indicate an openness to assist Taseko come up with alternatives and 'mitigations and compensations' so this project can move forward.
Put simply, all they looked at was the fish and fish habitat; they and everyone involved realize that while that needs to be addressed (and no doubt more fully and diversely than Taseko has previously provided), that is but one small piece of this package called "Prosperity".
Shit, they even criticize the 'hatchery' and the whole concept of a "hatchery" but go on to acknowledge that Taseko had to include the 'hatchery' because the provincial governmental entity required it.
Anyway, after reading it a couple of times, I am much more comfortable with the state of things at this moment in the process.
I am relatively new to mining stocks. Retired electric utility engineer mainly involved in siting,licensing, building, and operating power plants (nuclear and fossil) in U.S. Power plants generally, at least for the last 40 years, have a much lower environmental impact than mining (imo).
So don't buy the stock if you don't like the fish plan. It's your call. Go ahead and short it if you wish.
<<I was looking at the stock for possible purchase but this DFO report sure looks like a deal killer to me>>
Hey Maqua....This is all about the BEJAMINS....don't let anyone fool you. This will be approved because 95% of the people in the region want it approved and the reigning politicians in power want it approved.
The only thing everyone on this panel has to do is to make sure they get as much as they can from Taseko to limit environmental damage. They will sell this to the other 5%.
IMHO This stock will hit $7-$8.00 if approved. I think it is a good Bet!