Constantine Metals was recently required by the BC Securities Commission to revise its Preliminary Economic Analysis from 2019. This is the second time in six months Canadian securities regulators have found problems with Constantine’s public disclosures. Requiring a new PEA is unusual and the securities regulators must have found significant flaws in the original PEA.
Yet, Constantine continues to claim its public information is clear and accurate.
The revised PEA proposed a new transportation plan using AML facilities and port facilities in Skagway. The Mayor of Skagway has heard nothing from Constantine since 2019 and Constantine admitted it has not talked with AML about this new transportation plan. The Skagway loader is scheduled to be decommissioned in 2023. Skagway is likely to require containerization of any future ore shipments and to only allow its port to be used for ore shipments October-April, outside of the cruise ship season, conditions that would make it very difficult and expensive for Constantine.
This is just more smoke and mirrors from Constantine, much of it contradicted by reality.
And how about this for detachment from reality? Despite the fact that the new PEA was recently completed, Constantine says it “remains effective as of June 3rd, 2019.” Why would the revised PEA be based on information three years out of date and not include the latest information on the Skagway port and other relevant current information?
How can we trust Constantine?
Chris Zimmer