Vancouver police are working to identify protesters who stormed into a downtown hotel last month and threw feces at members of the Canadian Institute of Mining Metallurgy and Petroleum (CIM), while they were listening to a speech by Compliance Energy Corp. (TSX: V.CEC, Stock Forum) CEO John Tapics.
Compliance spokesman Greg Werbowski said this is not the first time that the company has been targeted by protesters who are opposed to the firm’s Vancouver Island coal project, which is currently in the permitting stage and could be in production as early as 2015.
The $240 million Raven Coal project has also sparked opposition in communities located in the vicinity of the Comox Valley mine site.
In an email note to Tom Broddy, Chairman of the CIM’s Vancouver Branch, Cst. Mason Wan of the Vancouver Police Department said police have yet to make any arrests. However, they are currently using video evidence in a bid to identify potential suspects.
Broddy has been asked to assist police in their investigation by providing a detailed description of the May 24th incident, which occurred at the Four Seasons Hotel in downtown Vancouver. He has also been asked to identify anyone who was hit with the liquid feces.
According to CIM statements obtained by Stockhouse, there were about 120 CIM members present when the protesters allegedly stormed into the meeting, and started yelling and denouncing the coal project.
“Unpleasant items,’’ which were thought to be liquid feces, were thrown just as Tapics was wrapping up his presentation, the CIM said.
CIM executive director Jean Vavrek said he is hoping that the culprits will be apprehended and held accountable for their deeds.
Meanwhile, Werbowski said the company is working to secure mining and environmental permits from the Federal and provincial governments. Estimated to cost about $240 million, the Raven Project is a joint venture involving Compliance (60%), LG International Investments Corp. of Korea (20%), and Japanese trading house Itochu Corp. of Japan (20%).
Slated for startup in early 2015, Raven is expected to produce about 850,000 tonnes of metallurgical coal, product that will be shipped to Asian markets for use in steel production. The underground mining operation is expected to provide 350 full time jobs and 500 so-called spin-off jobs.
Compliance currently has about $10 million in working capital, as well as 1.8 million shares of Copper Mountain Mining Corp. (TSX: T.CUM, Stock Forum). Trading at 15 cents on Wednesday, Compliance Energy has a market cap of $9.4 million, based on 63 million shares outstanding. The 51-week range is 40 cents and 13 cents.
(IMO) Sometimes I'm to the point, and sometimes I'm out in left field. JMHO
