Chilkat Valley News - Serving Haines and Klukwan, Alaska since 1966

The public deserves answers

 

June 18, 2020



Constantine spokesperson Liz Cornejo refused to respond to questions in last week’s paper raised by an evaluation of the Palmer Project Preliminary Economic Assessment (PEA) by mining expert Jim Kuipers, as well as why Constantine’s stock (currently trading at $.11/share) has been on a steep dive ever since the PEA release last July. Did she refuse because she doesn’t have the answers or because she doesn’t want to answer?

Constantine’s (PEA) describes a speculative and risky scheme to market barite from Palmer. Liz couldn’t or wouldn’t explain why Constantine thinks the price of barite will triple, who potential barite buyers are, how the barite would be shipped, and why anyone would buy Palmer’s barite when there are higher-grade and much larger sources in Nevada and northern Alaska and elsewhere. She couldn’t explain why Constantine assumes there will be no acid mine drainage or need for water treatment, despite the fact the Greens Creek mine, which Liz often compares Palmer to, also initially thought there would be no need for water treatment. Now Greens Creek must treat millions of gallons a day for 100’s of years, if not forever, to prevent pollution of Hawk Inlet.

This is the Tulsequah Chief all over again. An inexperienced junior Canadian mining company with very limited finances proposing to develop an acid-generating, economically risky mine upstream of vital salmon habitat. Two companies went bankrupt trying to develop the Tulsequah Chief and left behind a big mess. Constantine seems to be on that same path.

Chris Zimmer

Alaska Campaign Director, Rivers Without Borders

 
 

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