TTM Rescources Pres Says New Mine Would Employ 650 to 800 People - Opinion 250 - News for Northern and Central Interior of British Columbia, Canada

TTM Rescources Pres Says New Mine Would Employ 650 to 800 People
By 250 News
Monday, November 16, 2009 11:14 AM


Prince George- The President and Chief Executive Officer of TTM Resources who are proposing to build a new molybdenum open pit mine south of Vanderhoof, in the Nzako Rd area, says the company feels it can shave off a half billion dollars in investment by going with used equipment.
The project as it now stands, is scheduled to cost 1 billion dollars, and will employ 650 to 800 people when the mine is up and running.
W.K. Crichy Clarke, says we are looking at some used equipment in your area of the province which would cut the cost of the mine by nearly one half.
Clarke appearing on the Meisner show on CFIS Monday, said he has a letter of intent from a Chinese private investor to invest a large sum of money in the project. The investor, who operates a private development company, is seeking approval from the Chinese government to allow him to invest in a project outside of China.
Clarke says if all goes well with the environmental reviews, they would be able to begin construction on the mine in the spring of 2011.
The mine would have a life expectancy of 32 years and would produce 50 to 60,000 tons of ore a day."

Trade Mission a Breakthrough

Trade Mission A Breakthrough

By 250 News

Monday, November 09, 2009 03:59 PM

Prince George, B.C. -

Prince George, B.C.- The current trade mission to China aimed at opening up doors for more B.C. lumber products is being classed as a major breakthrough.

An agreement signed today with the City of Shanghai endorses wood-frame construction for affordable housing, creating an enormous opportunity for Canadian forest products, says Minister of Forests and Range, Pat Bell.

Under the memorandum of understanding, the Government of Canada, through Natural Resources Canada, will contribute $800,000 in 2009-10 to construct a wood-frame demonstration building to showcase the application of wood design and building materials. The Province of British Columbia will manage the project through Forestry Innovation Investment (FII), the province's international marketing agency for wood products. The City of Shanghai will provide land and some building materials.

Minister Bell says it had been expected the exports to China would exceed 1.3 to 1.4 million board feet this year, but he expects that number to be surpassed. “This MOU could easily double the volume of wood moving into the area by itself” says Bell.

"Shanghai is the first city to move ahead with China's affordable housing initiative. By 2012, one in five housing starts will be for affordable housing," said Bell. "By demonstrating how we can help them meet their housing needs, we can tap into the biggest single opportunity the Canadian forest sector has seen."

Shanghai alone is expected to build 20 million square metres of affordable housing space by 2012. Opportunities for wood use include roof trusses, partition walls, in-fill walls, and hybrid construction for mixed-used commercial and residential buildings.

There is good news for the Port of Prince Rupert as well says Bell. The Chinese prefer milled lumber as it is kiln dried and weighs less so ships can carry more of the finished product than they could if it were raw logs. “Moving a thousand board feet of lumber from an average Canfor mill to Shanghai about $60-$65 dollars, that’s the same amount it costs to ship that thousand board feet to Chicago. If you want to move the lumber further down south into the U.S. you’re into 90 plus dollars, so even though we think of the Chinese market as a long distance away, its really a very short distance and its because the sea borne transport is very affordable.”

The mission isn’t all about lumber sales. Minister Bell has meetings planned in Beijing to talk about other opportunities, such as the Worthington MacKenzie mill and the Eurocan Mill in Kitimat.

Foreclosure Question & Answer

Last night here in Prince George at the CNC I attended and 'Investor Club' to talk about Foreclosures and the pros and cons. The one question I did not have an answer for (but said I would call a few lawyers and get an answer) was... What does it cost a lender on average to foreclose on someone?

I talked with a few lawyers and they said there really is no average but if you had to put a number on it then lets say $5000. The problem with answering that question is the lawyers meter is ticking away and some foreclosures are done fast and straight forward and others can be very long, drawn out and complicated. So really there is no good answer for this.

Cheers
Dean

Housing Sales Climbing Across Province

Housing Sales Climbing Across Province

By 250 News

Monday, July 13, 2009 09:39 AM

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province rose 40 per cent to 9,970 units in June 2009 compared to the same month last year.

Activity in the month of June marked the fifth consecutive month of rising sales and the highest level of activity since January 2008, on a seasonally adjusted basis.

"Housing markets around BC continued to post higher sales in June, fuelled by attractive mortgage rates and lower prices,” said Bryan Yu, BCREA Economist. “The larger urban regions of Greater Vancouver and Victoria exhibited balanced market conditions in June, while others have recorded improved market stability. Stronger demand and a decline in home listings are stabilizing home prices in many BC markets."

Year-to-date, MLS® residential sales dollar volume was down 20 per cent to $16.3 billion over the same period last year. A total of 36,329 units were sold in the first six months of 2009, down 15 per cent from 2008, while the average MLS® price declined 5 per cent to $448,381.