InvestorsHub Logo

amarksp

04/12/05 1:41 AM

#294 RE: OriginalFred #293

thanks for that link, this added some facts heretofore not known to me:

"In 2004, operating permits were secured, culminating with the receipt on May 7 of the Notice to Proceed from the Bureau of Land Management. Hecla Ventures had previously received, on December 26, 2003, the Water Pollution Control Permit from the Nevada Division of Environmental Protection. In total, 32 separate permits and/or authorizations were required from local, state and federal authorities, most of which were in hand by May 2004. However, site construction work was delayed until August 20 while agreements for access to the property were negotiated with Newmont and Great Basin. Approximately $3.7 million was expended for engineering and permitting prior to the start of construction.

During the last four months of 2004, work concentrated on constructing the surface facilities required to support the underground exploration project. Facilities under construction include the lined waste rock storage facility and integral water collection sump, the water management ponds and de-silting basins and installation of temporary offices and services. Hecla crews completed the portal structure, and the decline advanced nearly 200 feet as of December 31, 2004. At December 31, 2004, there were 19 employees at Hollister. Total project costs through December 2004 were approximately $6.1 million. "

Only 19 employees, this is understaffed compared to the FONSI documents which called for 28 as I recollect.

32 separate permits...

that NEM/GBN access to the property rights is a bunch of malarky IMO..., HL delayed Hollister to try to get better contract terms negotiated IMO and was unsuccessful (i.e. higher rates for using new equipment rather than old equipment as planned), this is my opinion.