https://www.kaiserresearch.com/
Why did FPX Nickel drop sharply on Wednesday?
FPX Nickel Corp released a vague Aug 9, 2023 Update on its 2012 MOU with Tl’azt’en Nation which the market didn’t really understand until it tracked down the publication referred to by FPX, Dust’Lus Talo ‘Ooza’ August 2023, a monthly newsletter of the Tl’azt’en Nation.
Page 4 contained a declaration by Chief Leslie Aslin, elected in June 2022, that after more than a decade of collecting from FPX Nickel whatever benefits accrued from the 2012 Memorandum of Understanding, the Tl’azt’en Nation has decided it is unequivocally against development of Baptiste, which would become the world’s first awaruite based nickel mine in a secure jurisdiction, possibly with a zero carbon footprint, producing more than 4 decades of “clean” nickel relative to the dirty nickel Indonesia and Russia supplies (double that if Van is developed).
This is the same First Nation with a population of 1,802 on and off reserve members (Carrier Sekani Tribal Council) which through its Tanizul Timber Ltd division has benefited from clearcut logging within its vast “traditional territory”. Some FPX shareholders, in particular Europeans who do not understand Canada’s ridiculous First Nations problem, hit the panic button, assuming that this project into which Cliffs and FPX have sunk over $40 million, and for which a mystery strategic investor and the Finnish stainless steelmaker Outukumpu during the past year have invested almost $30 million is dead.
If this turns out to be the case, it signals the death of Canada as a nation, because it would confirm that 1 million full status indigenous people who claim 400% of Canada as traditional territory thanks to their overlapping inter-tribal claims, represent a race based aristocracy with rights that over-ride those of the 37 million Canadians who are not descendants of an indigenous nation. It would not actually come to that, for a more likely outcome is that First Nations aspirations will end up on the scrap heap as 95% of Canada’s 38 million people declare, “enough is enough”, and force the federal government to pull out of the United Nations Declaration on the Rights of Indigenous Peoples.
For the rest of this written version of John Kaiser’s podcast: https://www.kaiserresearch.com/s9/KaiserBlog.asp?ReportID=969909