Skip to content

Is Emgold Getting Ready to Drop the Idaho-Maryland Mine Project Completely?

Is Emgold Getting Ready to Drop the Idaho-Maryland Mine Project Completely?

February 1, 2013 (Posted by) Don Pelton Comments 0 Comment

In a press release dated today (February 1, 2013) Canadian penny-stock mining company, Emgold Mining Corporation, uses language more explicitly suggestive of closing-up shop in Grass Valley than any they have used before. They suggest they may drop the Idaho-Maryland Mine project altogether to focus their resources on “other assets the Company has in its portfolio.”

Excerpt:

Further to the Company’s October 26, 2011 and September 7, 2012 press releases, permitting activities associated with the Idaho-Maryland Project (the “Project”) remain on hold pending the resurgence of the junior mining equity markets. Emgold reiterates what it stated in its past press releases that, despite the current price of gold, financing for projects in the junior mining sector is extremely difficult. In the event that insufficient funds can be raised to move the Project forward, Emgold will continue to delay the Project until market conditions improve or, as a worst case, drop it to focus on the other assets the Company currently has in its portfolio.

The current extension of the Lease and Option to Purchase Agreement (the “BET Agreement”) expires today. The BET Agreement, signed in 2002, originally had a five year term. It has been extended three times to date, in two year increments, with the last extension taking effect on February 1, 2011. Emgold is currently in negotiations with the BET Trust to extend the agreement, which covers the lease and option to purchase of approximately 2,750 acres of mineral rights and 91 acres of surface rights associated with the Project. If negotiations to extend the BET Agreement are unsuccessful, Emgold will terminate the Project and focus on the other assets the Company currently has in its portfolio.

The City of Grass Valley cancelled Emgold’s IMM Project application after it failed to meet a city-imposed deadline of September 10, 2012 for submitting the necessary funds to the City of Grass Valley for independent consultants to begin preparation of a revised Draft Environmental Impact Report (DEIR) on the proposed mine and ceramics factory.

For more information, see CLAIM-GV.org.

Print Friendly, PDF & Email

Blog, Local

Post navigation

PREVIOUS
Susannah McCorkle
NEXT
Austerity and The End of the Recovery That Never Really Began

Join Our Mailing List

Leave a Reply Cancel reply

Your email address will not be published.

CLICK IMAGE BELOW FOR MORE INFORMATION

DONATE TO THE FOOD BANK OF NEVADA COUNTY

(CLICK IMAGE)

DONATE TO NEVADA COUNTY RELIEF FUND (click image below)

Subscribe to Sierra Voices Journal

Jack Kornfield: A Steady Heart in Time of Corona Virus (Part I)

Erika Lewis, Shaye Cohn, Craig Flory – Got A Mind To Ramble

“Everlasting Arms”

Tara Brach: A Steady Heart in Time of Corona Virus (Part II)

Recent Posts

  • In Ukraine, Diplomacy Has Been Ruled Out
  • Why Am I Obsessed With Ukraine?
  • Is “Ukraine Losing Badly” ?
  • Bill Clinton Makes a Pathetic Attempt to Retroactively Justify His Decision to Expand NATO
  • The Ukraine War Seen “from 30,000 feet”

Recent Comments

  • Putin in Media Myth and Reality: Which is Which? on Ukraine War: A Bonanza for the Arms Industry
  • SVadmin on Countdown to World War III?
  • Pratima Basu on Scenes From Our Weekend at Lake Tahoe
  • IN PRAISE OF WARRIORS, NOT WAR on Celebrated to Death: Memorial Day Is Killing Us
  • SVadmin on How Suzanne Simard changed our relationship to trees

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • November 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • July 2018
  • June 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • December 2015
  • June 2015
  • May 2015
  • April 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • January 2014
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009

Categories

  • Afghanistan
  • Aging
  • American Empire
  • Anti-Depressant
  • Arms Sales
  • Articles
  • Atlas Obscura
  • Authoritarianism
  • Black Lives
  • Black Lives Matter
  • Blog
  • Buddhism
  • Budget
  • Buskers
  • Capitalism
  • Carbon Offsets
  • Cartoon
  • China
  • Climate Change
  • Compassion
  • Constitution
  • Corona Virus
  • Corruption
  • Cosmology
  • Coup
  • COVID-19
  • Democracy
  • Depression
  • Disenfranchisement
  • Drought
  • Economics
  • Education
  • Election Fraud
  • Empire
  • Environment
  • Extinction
  • Farming
  • Fascism
  • Filibuster
  • Fire!
  • Food Insecurity
  • Foreign Policy
  • Forest Ecology
  • Forest Management
  • Fracking
  • Gardening
  • Gender
  • GOP
  • Great Movies
  • Groundwater
  • Halloween
  • Health Care
  • High Country News
  • History
  • Humor
  • Hunger
  • Idaho-Maryland Mine
  • Ignorance
  • Immigration
  • Indigenous Peoples' Day
  • Insects
  • Israel
  • Labor
  • Lobbying
  • Local
  • Lunar Influence
  • Marijuana
  • Masks
  • Medical Care
  • Men
  • Men's Issues
  • Mental Health
  • Middle Class
  • Military Industrial Complex
  • Mining
  • MMT
  • Modern Monetary Theory
  • Moral Obligations
  • Music
  • Native Americans
  • NATO
  • Neoliberalism
  • New Cold War
  • Nuclear War
  • Nutrition
  • Oligarchy
  • Palestine
  • Pandemic
  • Parenting
  • Peace
  • Pharmaceuticals
  • Physics
  • Poetry
  • Police
  • Politics
  • Populism
  • Press
  • Race
  • Religion
  • Republican Derangement
  • Reviews
  • Revolution
  • Right-wing terrorism
  • Rights of Nature
  • Rise Gold
  • Rivers
  • Romance
  • Russia
  • Russiagate
  • Science
  • Slavery
  • Sleep
  • Smoke Inhalation
  • Student Debt
  • Summer
  • Technology
  • The Hartmann Report
  • Trump Virus
  • Tuba Skinny
  • Tyranny
  • Ukraine
  • Uncategorized
  • Unipolar vs. Multipolar
  • Vaccine Refusal
  • Vaccine Safety
  • Voting
  • War
  • War on Government
  • Water
  • Watersheds
  • Wells
  • Wildfires
  • Winter
  • Women's Issues
  • Work
  • Yemen

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
© 2022   All Rights Reserved.