Northern Prospectors Association expects challenges in 2017 (Kirkland Lake Northern News – February 15, 2017)

KIRKLAND LAKE – The Northern Prospectors Association recently held its annual general meeting. During the meeting Association President Gino Chitaroni gave a speech which reviewed 2016. Chitaroni stated it was an up and down year for the mining industry.

“Exploration expenditures are once again down in 2016 making this current bear cycle going on to 6 years. Its nothing short of brutal. Yet, there has been one good news story, in another tough year for exploration, and that is the “Cobalt Rush” that has been happening in the Cobalt Mining Camp. This rush has not been seen in the Cobalt Camp since the Silver discovery in Cobalt of 1903 which has resulted in a renaissance of property acquisitions and exploration from Temagami to Elk Lake, in and around the Town of Cobalt spilling over into Quebec, and over to Gowganda-Shining Tree areas right down to the northern outskirts of Sudbury.”

From the political side, Chitaroni had very few good things to say about Premier Wynne “from the possible roll out of Map Staking by MNDM to pushing for changes to streamline the process for plans and permits for exploration; to staving off hostile advances against exploration beit the Cariboo Story of negativity regarding exploration to the Carbon Tax assault on our industry and all business.

We continue to see issues dealing with first nations and the bumpy road ahead just witness the DeBeers announcement of suspending the Tango Project in Attawapiskat.”

He also says the Federal Government is doing a number of things that are hurting the industry. “TheLiberals are again flirting with the matter of keeping Flow Through financing. We will, with the OPA, lobby to keep it.

The Cap and Trade on CO2 emissions being advocated by the Feds will hurt our industry.

The Federal government has absolutely no gold reserves. This is a potential disaster in the making for times of financial distress which could happen and appears even more likely to occur in the near future. Whether they Feds say so or not, Gold is money and still backs up currencies just ask the Chinese and Russians — who are the big buyers.”

He also has some strong feelings about Donald Trump.

“What the world faces is a massive amount of uncertainty, which on the face of it, should be good for Gold prices and by extension Silver. One thing is for sure, the world has never seen a leader of the US like this and one that is all about business! America is undergoing a seismic shift towards opening up business (for its own purposes) and tearing down the barriers to do business. Our Prime Minister who is like a ‘deer in the headlights’, has no idea how to adjust or react to Trump.

So, as Ontarians and Canadians we must understand and learn the new Trump reality, in order, to compete. Or, we risk falling behind into perpetual recessions and economic difficulty.

On that note, we strongly encourage the Ontario and Canadian government to peel back onerous regulations and implement tax policies that are effective and competitive which is good for business and particular the mining and exploration business.”

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