July 31, 2019
Daniel’s Den
7 @ 7:00
Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,422 and $1,429 so far today…as of 7:00 am Pacific, bullion is off $3 an ounce at $1,427 just 4 hours ahead of a Fed policy statement…Fed funds rate futures are now fully pricing in a 25 basis point rate cut today, which would be its first since the financial crisis more than a decade ago, and another quarter point cut in September…the Gold market will focus more on today’s communication from the Fed, whether it leaves the door open for more rate cuts amid a slowing global economy…there is also clearly a strong link between U.S.-China trade talks and the outlook for U.S. monetary policy…the longer the trade tensions drag on, the more the Fed will need to provide support on the interest rate side…Silver has slipped 17 cents to $16.37…Nickel and Copper are relatively unchanged at $6.51 and $2.68, respectively, while Zinc is flat at $1.11…Crude Oil is up for a 5th straight day, 30 cents higher at $58.35 while the U.S. Dollar Index continues to trade around strong resistance just above 98…U.S. companies added more jobs than expected in July…private payrolls increased by 156,000 for the month, according to this morning’s report from ADP and Moody’s Analytics…the number was up substantially from the 112,000 in June, revised higher from the initially reported 102,000…negotiations on an “enforceable trade deal” with China are expected to continue in Washington, D.C., in early September, the White House said in a statement this morning…Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin were in Shanghai yesterday and today to discuss trade with their Chinese counterparts, and those talks were “constructive”, the White House also said…the Chinese side confirmed their commitment to increase purchases of American agricultural exports, and other topics covered were forced technology transfer, intellectual property rights, services and non-tariff barriers, according to the White House…
2. The Gold market has reached an historic moment as U.S. citizens can now monetize physical Gold and spend it on everyday items thanks to a U.K.-based fintech company and its Gold-backed debit card…Glint Pay Inc. announced this week that its debit MasterCard and Glint App are now available in the United States…the expansion to the U.S comes less than a year after launching its services in Europe…in a press release, the company said that since its initial launch in the U.K in 2015, it has seen significant growth…“To date, Glint has more than 50,000 app downloads, 10’s of thousands of registered users and more than $50 million (U.S.) in transacted volume,” the company said…the launch comes as Gold is seeing a resurgence in investor demand, which recently drove prices to a 6-year high…however, physical demand has been fairly lackluster as investors have been jumping into Gold-backed exchange traded products…the company says consumers can put their physical Gold to use…“The U.S. boasts a $7.6 trillion annual Gold investment market in Gold bars and coins that has been locked in vaults and unable to be used as money until now”…
3. China’s factory activity shrank for the 3rd month in a row in July, an official survey showed, underlining the growing strains on the world’s 2nd-biggest economy as continuing Sino-U.S. trade tensions impact business profits, confidence and investment…the official gauge came on the 2nd and final day of U.S. and Chinese trade negotiators’ meeting in Shanghai, their first in-person talks since a G20 truce last month…today’s weak manufacturing reading adds to global growth risks and explains why policymakers around the world have stepped up easing measures, with some others considering doing so soon, to counter the fallout from international trade frictions….the Purchasing Managers’ Index (PMI) rose to 49.7 in July, from the previous month’s 49.4, but remained below the 50-point mark that separates growth from contraction on a monthly basis…analysts polled by Reuters had predicted a reading of 49.6…deteriorating global demand saw export orders shrinking for the 14th month, the survey showed, though the sub-index ticked up fractionally to 46.9 from June’s 46.3…the contraction in total new orders also moderated slightly, while factory output offered one brighter note, with growth quickening this month…
4. Kirkland Lake Gold (KL, TSX), our favorite producer, has posted quarterly Q2 net earnings of $104.2 million (U.S.), 50 cents per basic share, up 69% from $61.5 million (29 cents per basic share) in Q2 2018 and compared to record net earnings of $110.1 million (52 cents per basic share) the previous quarter…revenue growth in the 2nd quarter was 31% vs. the same period a year ago…Q2 2019 Gold sales of 212,091 ounces compared to 164,305 ounces in Q2 2018 and 232,929 ounces the previous quarter…AISC (all-in-sustaining costs) per ounce sold averaged $638, 16% better than $757 in Q2 2018 and compared to $560 in Q1 2019 (change from previous quarter reflects reduced sales volumes and timing of sustaining capital expenditures)…cash at June 30, 2019 totalled $469.4 million, a 13% increase from $416.1 million at March 31, 2019…Tony Makuch, President and CEO, commented, “During Q2 2019, we continued to generate strong growth in production, earnings and cash flows compared to the same period in 2018. Fosterville achieved a record quarter and exceeded target production levels driven by higher than expected grades. Even more encouraging, we are now positioned to significantly grow production at Fosterville during the second half of the year. In Canada, tonnage at Macassa was affected by water in the mine from the spring run-off, and we had lower than planned grades at the Holt Complex. We have already seen higher production levels at Macassa in July, with the mine remaining on track to achieve its full-year guidance of over 240,000 ounces. Based on our results to date, and expectations for the remainder of the year, we remain well positioned to achieve our full-year 2019 consolidated operating guidance, which includes production of 950,000 – 1,000,000 ounces with operating cash costs per ounce sold averaging $285 to $305 and AISC per ounce sold averaging $520-$560“…KL has backed off modestly on the news, down $3.12 a share to $56.97 as the broader Gold Index pulls back…
5. GoGold Resources (GGD, TSX) has drilled 23.3 m averaging 4.5 g/t AuEq (1.78 g/t Au and 201.5 g/t Ag) at its Los Ricos Project located about 100 km northwest of the city of Guadalajara, Mexico…drill hole LRGG-19–022 intersected the Los Ricos quartz vein from 170.4 m to 193.7, including a 10-m interval averaging 3.6 g/t Au, 389.6 g/t Ag and 8.8 g/t AuEq…no workings were encountered in the hole and core recoveries were excellent…this hole cut the Los Ricos vein to the north of the prolific North Cinco Minas Stope in the historical underground workings…another drill hole (LRGG-19–025) intersected the Los Ricos vein from 34.9 m to 59.5 m and averaged 1.30 g/t Au, 135 g/t Ag and 3.1 g/t AuEq over 24.6 m, including a 15.5-m interval averaging 2 g/t Au, 203.3 g/t Ag and 4.7 g/t AuEq…GGD is unchanged at 49 cents as of 7:00 am Pacific…
6. The Dow is down 64 points through the first 30 minutes of trading…in Toronto, the TSX is off 32 points…beleaguered cannabis producer CannTrust Holdings (TRST, TSX) has appointed a financial advisor for a strategic review that will look at options including the sale of the company…CannTrust said in a statement that alternatives could include a sale, a strategic investment, a business combination or changes to operations or strategy…“The nature, timing and outcome of the strategic review process will be influenced by, among other things, the resolution of the Company’s regulatory compliance issues with Heath Canada”, a news release stated…the Venture is unchanged at 594…Benchmark Metals (BNCH, TSX-V) is steady at 37.5 cents after a modest run yesterday on news that the initial 6 drill holes at its Lawyers Project (Cliff Creek zone) have cut “multi-metre mineralized intercepts”…5 of the holes have returned 2 to 3 discrete mineralized intercepts within the same hole ranging from 1 to 46 m in length (assays pending)…the mineralization at Cliff Creek is typified by intense quartz flooding and veining with associated pyrite and sulphosalts within intermediate volcanic rocks of the highly prospective Stikine terrane….drilling has totalled 1,392 m to date…the next series of holes is scheduled for the subparallel AGB zone, targeting extensions and offsets from the high-grade historic mine area…
7. Nighthawk Gold (NHK, TSX) has drilled 56.25 m grading 2.76 g/t Au (30 m true width), including 13 m @ 3.5 g/t Au, extending mineralization to over 450 m at depth where it remains open in Zone 2.0 at its Colomac Gold Project in the Northwest Territories…drilling continues to target specific high-priority areas within Zones 2.0 and 3.0 of the Colomac Main sill with the focus on the discovery and delineation of higher-grade shoots within the sill…all 38 drill holes reported to date (12,824 m) in the planned 35,000-m to 40,000-m drill program for 2019 have intersected mineralization…the success in locating and tracing new areas of higher-grade mineralization along the Colomac Main sill continues to validate the company’s belief in the deposit’s capacity to host discrete corridors of elevated grade (typically significant widths of over 2 g/t Au with internal higher-grade cores), some of which are broad domains of contiguous mineralization along strike and to depth that remain largely unexplored…this exploration strategy has been extremely successful leading to several new discoveries and is considered crucial to resource growth going forward…President and CEO Dr. Michael Byron stated, “This latest drilling followed up on recent discoveries of higher-grade mineralization in Zones 2.0 and 3.0. Our goal was to extend these known occurrences down plunge and to test other highly prospective opportunities. Outcomes have been exceptional, resulting in a new discovery in Zone 2.0 and the successful expansion of three previous discoveries. We are extremely encouraged by our continued success in identifying new prospects and remain confident in our ability to track them along strike and to depth. This part of the sill has seen limited exploration to date but clearly shows the potential to deliver ounces”…
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July 30, 2019
7 @ 7:00
Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,422 and $1,429 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,427 as the Fed begins a 2-day policy meeting…SPDR Gold Trust, the world’s largest Gold-backed ETF, said its holdings rose 0.83% to 824.89 tonnes yesterday from 818.14 tonnes on Friday…Silver has added a penny to $16.44…Nickel and Copper are off slightly at $6.44 and $2.69, respectively, while Zinc is flat at $1.12…Crude Oil has climbed 22 cents a barrel to $57.09 while the U.S. Dollar Index is trading around strong resistance at 98.12…U.S. inflation remains muted, a major reason why the Fed will cut interest rates for the first time in more than a decade tomorrow…the Commerce Department reported this morning that its Core Personal Consumption Expenditures Index increased in June in line with expectations…annually, core inflation, which is the Fed’s preferred inflation measure, increased 1.6%, unchanged from May’s reading – the 3rd straight month inflation has held at this level…the Bank of Japan kept monetary policy steady today but said in its policy statement that it “will not hesitate to take additional easing measures” if the economy loses momentum toward achieving the target inflation rate of 2%…President Trump ratcheted up pressure on China to quickly reach a trade deal, warning that if he is re-elected, the terms of an agreement would be much tougher than what is currently being discussed…the President said in a series of tweets this morning that China might get a better deal – at the expense of the U.S. – if a Democrat like former Vice President Joe Biden wins the Presidency in 2020…“Then they could make a GREAT deal, like in past 30 years, and continue to rip off the USA, even bigger and better than ever before”…Goldman Sachs this morning has raised its 2019 year-end price target for the U.S. benchmark S&P 500 index by 3% to 3,100, but lowered its earnings estimates, citing weakness in economic activity and margin outlook…
2. Commerzbank on Gold: “This is set to be an eventful week for Gold market participants, the highlight of which is likely to be the Fed’s decision on interest rates. A rate cut of ‘only’ 25 basis points could prove disappointing given that the market has priced in more. Much will also depend on what Fed Chair Powell says in the subsequent press conference. If he makes no mention of a cycle of rate cuts, causing Gold to come under pressure, we would not see this as a trend reversal but as an attractive buying opportunity. After all, the monetary policy of many central banks is expansionary, and is currently becoming even more expansionary, which should benefit Gold as a store of value”…
3. The Tahltan Nation has made one of the largest clean energy investments by a First Nation in Canadian history, in the heart of Northwest British Columbia’s prolific Eskay Camp…the Tahltan Nation, a major supporter and beneficiary of development in the area, has purchased 5% – from Axium and Manulife – of 3 hydroelectric power plants, the Forrest Kerr, McLymont Creek and Volcano Creek run-of-river projects…in partnering with Axium Infrastructure Canada, Manulife Financial (MFC, TSX) and AltaGas (ALA, TSX), the Tahltan Nation is now part owner of a clean energy asset that is valued well over $2.5 billion…Rick McLean, Chief of the Tahltan Band, stated in a news release, “This clean energy deal is a game-changer and will provide our Nation with an asset that will give back for over 100 years”…McLymont Creek and Forrest Kerr are situated along the southern edge of Crystal Lake Mining’s (CLM, TSX-V) Newmont Lake Project where drilling begins in the next 24-48 hours at the Burgundy Ridge Copper-Gold-Silver-Cobalt-Zinc discovery, while Volcano Creek is located along the Eskay mine road near Garibaldi Resources‘ (GGI, TSX-V) camp and the Eskay Creek mine where Skeena Resources (SKE, TSX-V) will be drilling this summer…
4. More action in the Eskay Camp: Tudor Gold (TUD, TSX-V) has drilled 252 m grading 1.27 g/t Au (GS19–42) in a 150-m step-out to the northeast of last year’s key hole that intersected 280.5 m @ 1.14 g/t in its upper mineralized horizon at the Treaty Creek Goldstorm zone next to Seabridge’s (SEA, TSX) KSM Project…a 2nd rig has arrived at the property in an effort to rapidly build out the system along strike to the northeast and toward the footwall contact zone to the southeast with more large step-outs…the system has strength to the northeast as the depth exceeds 700 m with an average of 0.68 g/t Au over 780 m of vertical intercept in GS19–42…curiously, strong Silver-bearing base metal mineralization was seen for the first time at Goldstorm in this latest hole which included Eskay Creek-style grades over 1.5 m (209.5 m to 211 m) – 33.5 g/t Au, 1,154 g/t Ag, 2.9% Cu, 6% Pb and 1.9% Zn…TUD has climbed 3 cents to 63 cents through the first 30 minutes of trading…
5. Amex Exploration (AMX, TSX-V) has hit high-grade Gold mineralization in 2 additional holes at its newly-defined Gratien Gold zone, 1.5 km from the Eastern Gold zone (EGZ) at its Perron Property near Rouyn-Noranda…high grade mineralization can now be traced over a sub-horizontal strike of 360 m at Gratien, in addition to several lenses of lower grade Gold mineralization that have been defined through historical drilling…drill hole PEG-19-66 cut 4.25 m grading 16.8 g/t Au (221.8 to 226.05 m) while PEG-19–68 intersected 27.5 g/t Au over 4.9 m (189.6 m to 194.5 m)…the company is also reporting visible Gold in 3 regional wildcat exploration holes which are located about 650 m from Gratien and located between the Gratien Zone and the EGZ…“We are very enthusiastic to see that, as modelled and interpreted, we are now confirming the presence of high grade Gold mineralization from multiple Gold systems at Perron,” stated Jacques Trottier, Amex Chairman of the Board…“The Gratien Gold zone is a kilometre-long corridor of mineralized structures that is showing significant potential for tonnage given its known strike length, proximity to surface, and multiple lenses of Gold mineralization. We have currently dedicated one drill to the Gratien and other regional targets that we have labelled as wildcats. The other drill is still working on the Eastern Gold zone in order to increase its size by drilling laterally and at depth”…the Gratien Gold zone was previously explored through the 1990’s and early 2000’s as a bulk tonnage system…potential areas of high-grade lenses with this system, identified by Amex, show similarities to the Eastern Gold zone, including spatial correlation with high-magnetic mafic intrusions, secondary order north-east south-west structures, sodic rhyolite host-rocks and high-grade Gold bearing quartz-veins…AMX is unchanged at $1.11 in early trading…
6. The Dow is down 75 points through the first 30 minutes of trading…Beyond Meat (BYND, NASDAQ) tumbled more than 15% at the open on news the company would embark on a secondary offering of 3.25 million shares only 3 months after its IPO…that report followed the release of mixed Q2 results and a raised 2019 revenue forecast…in Toronto, the TSX is off 23 points while the Venture has slipped 2 points to 589…Pure Gold Mining’s (PGM, TSX-V) surface drilling at the Madsen Red Lake mine continues to confirm and expand the Wedge deposit extents with bonanza-grade Gold intercepts returned from initial 2019 exploration drilling…results from separate drill holes include 108.5 g/t Au over 1 m, 94.6 g/t Au over 1 m, and 13.8 g/t Au over 1 m…2 drill rigs are currently active with 1 rig targeting growth at the Wedge resource, and 1 rig testing the Fork extension target…the Globe and Mail reported this morning that the former chairman of CannTrust Holdings (TRST, TSX), along with a director, sold $6 million of the company’s stock in the weeks after he was informed in writing that the weed producer was illegally growing pot plants in unlicensed rooms…a holding company controlled by Eric Paul and director Mark Litwin sold nearly $1 million worth of shares on November 16 last year…the holding company, called Cannamed Financial, sold a further $5 million in CannTrust shares over the next 30 days…National Access Cannabis (META, TSX-V) has reported a loss of $4.78 million in its latest quarter…the company’s retail cannabis stores generated $16.8 million in revenue in Q3 2019, or 5.5% growth compared with Q2 2019…gross profit margin was 32% in Q3, compared with 31% in the most previous quarter…
7. Eric Sprott steps into another Eskay Camp play: American Creek Resources (AMK, TSX-V) has announced that it intends to complete a non-brokered private placement with Sprott’s private company, 2176423 Ontario Ltd., consisting of the issuance of 20 million units at a price of 5 cents per unit for proceeds of $1 million…each unit will consist of 1 common share of American Creek and 1 full warrant that may be exercised for 1 additional common share at a price of 6.5 cents for a period of 24 months…as part of this financing and the issuing of the units, Sprott has agreed to sign a voting agreement in which he will vote with management in the event of a hostile takeover bid, and to also vote with management if management agrees to accept a takeover bid…Darren Blaney, President and CEO of American Creek, stated: “We welcome Mr. Sprott’s involvement and significant contribution. This is an endorsement of not only the potential of the Treaty Creek Project but also of our other projects we’ve been able to successfully acquire. With Mr. Sprott’s support and with market conditions improving, we very much look forward to working together to advance these projects and create additional value for our shareholders”…AMK is up a penny at 7 cents on total volume (all exchanges) of nearly 2 million shares as of 7:00 am Pacific…
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July 29, 2019
7 @ 7:00
Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,414 and $1,423 so far today…as of 7:00 am Pacific, bullion is up $7 an ounce at $1,421…fund managers sharply increased their bullish positioning in Silver futures, while largely maintaining the status quo in Gold, during the most recent reporting week for data compiled by the Commodity Futures Trading Commission…flows into Silver-backed ETFs this month have been unprecedented…Silver has slipped 2 pennies o $16.34 in early trading to begin the new week…Nickel and Copper are flat at $6.36 and $2.71, respectively, while Zinc is up a penny at $1.11…Crude Oil has added 28 cents to $56.48 while the U.S. Dollar Index is one-tenth of a point higher at 98.10…President Trump this morning urged the Fed to go beyond making a “small rate cut” this week, raising pressure on the central bank to lower borrowing costs by more than Wall Street expects…in a series of tweets, Trump reiterated his criticism of independent U.S. monetary policymakers, accusing them of acting too cautiously in comparison to China and Europe…
2. As Fed officials begin their discussions tomorrow they’ll have some more data with which to assess the economy…personal income, pending home sales and consumer confidence statistics are all due tomorrow…later in the week, on Thursday, the ISM manufacturing report is expected to show industry is stabilizing and continuing to expand…Friday’s July jobs report should show that the U.S. economy is still strong, with 170,000 non-farm payrolls being added and an extremely low unemployment rate of 3.7%, according to Refinitiv…that follows this past Friday’s report of 2nd quarter GDP which grew at a better than expected 2.1% but showed clear signs of impact from tariffs and trade friction…
3. Trade representatives from the U.S. and China will begin their first official in-person meeting since the G-20 truce, but neither side is showing any sense of urgency to complete a deal…the 2-day meeting is set to take place in Shanghai beginning tomorrow after PresidentTrump and Chinese leader Xi Jinping reached a ceasefire last month…however, expectations for a long-term resolution remain low as Beijing waits and sees Washington’s stance on Huawei, while Trump believes China may hold out until after the 2020 elections…“I don’t think personally China would sign a deal if I had a 2% chance of losing the election,” Trump said on Friday…“I think China would probably say: ‘Let’s wait. Let’s wait. Maybe Trump will lose and we can deal with another dope, or another stiff'”…
4. U.S. corporate profits are proving to be more resilient than expected in the 2nd quarter, nudging the stock market higher this month and distracting from anxieties about trade and economic growth…of the 221 S&P 500 companies that have reported earnings through Friday, 170 have surprised investors with better-than-expected result, according to FactSet…technology giants Alphabet and Twitter both topped expectations, sending shares up 9.7% and 8.9%, respectively, on Friday…average earnings among S&P 500 companies that have reported are up 0.7% from a year earlier (FactSet)…that has helped improve analysts’ forecasts for earnings to a 2.6% contraction for the quarter, better than the more than 3% pullback they had been predicting just a week ago…
5. Westhaven Ventures (WHN, TSX-V) has drilled 18.5 m @ 11.4 g/t Au and 40.2 g/t Ag within a broader interval of 52 m @ 5.1 g/t Au and 11.4 g/t Ag in Vein Zone 2 (SN19–10) at its Shovelnose Property near Merritt..that same hole also returned 1.98 g/t Au and 7.8 g/t Ag over 43.5 m near-surface (83.6 m to 127.1 m)…results from Vein Zone 1 released this morning were highlighted by 176.3 g/t Au and 131 g/t Ag over 3 m near-surface in SN-19–11, including 1 m @ 521 g/t Au and 381 g/t Ag (117 m to 120 m)…Gareth Thomas, President & CEO of Westhaven stated, “The high-grade Gold intercepts in Vein Zone 2 extend the scope of expanding the South Zone. Drilling continues to explore the extent and demonstrate the continuity of 2 parallel vein zones approximately 125 m apart. The goal of the current drill program is to keep extending these parallel zones, along with the strike length, and to target the preferred horizons where the Gold precipitates out. The summer drill program, employing two rigs, is ongoing and 12 holes have been completed totaling approximately 5,000 m. Assays will be released regularly as the program progresses”…Peter Fischl, Exploration Manager, added, “Hole SN19–10 confirms the potential for bonanza grades in Vein Zone 2. Such grades were first encountered in Zone 2 last year in hole SN18–18. Hole SN19–10 also indicates that significant Gold grades can occur over broader widths, like those encountered in Vein Zone 1 as seen in hole SN18–15“…(based on the geology of the vein zones with steep dips to the west, true widths are estimated to be about 80% to 90% of reported interval lengths)…
6. The Dow is up slightly through the first 30 minutes of trading…Beyond Meat (BYND, NASDAQ) will report Q2 financial results after the close…shares of the fake meat maker have soared more than 800% since its initial public offering on May 2, putting the company’s market capitalization at a whopping $14 billion…that valuation is higher than that of roughly 25% of the companies in the S&P 500 index, including multiple decades-old industry stalwarts…in Toronto, the TSX is 35 points lower while the Venture has fallen 5 points to 588 on weakness in cannabis stocks…Brixton Metals (BBB, TSX-V), which recently delivered strong drill results from its Thorn Project in Northwest British Columbia, reported this morning that it has arranged a fully subscribed, non-brokered private placement of a combination of hard dollar units (18 cents per unit with half a warrant) and flow-through shares (22 cents with a full warrant) for gross proceeds of $6 million…Compass Gold (CVB, TSX-V) has cut 7 m of 15.4 g/t Au, including 1 m @ 60.6 g/t, in RC drilling at its Sikasso Property in southern Mali (Farabakoura artisanal workings on the Ouassada permit)…the strike length of the mineralized system has been increased to 770 m…
7. Another project for the Trudeau government to kill, if it’s re-elected in October: A federal-provincial panel says a proposed northeastern Alberta Oil sands mine would be in the public interest, even though the panel claims the project would likely significantly “harm the environment and Indigenous people”…Teck Resources (TCK.B, TSX) aims to build the $20.6 billion Frontier mine near Wood Buffalo National Park in 2 phases…its total capacity would be 260,000 barrels of Oil a day and Teck has said it aims to start producing Oil in 2026…the panel’s report includes several dozen recommended conditions for Teck and the federal and provincial governments…they include mitigating harm to wildlife, monitoring pollutants and taking feedback from nearby First Nations into account…the federal cabinet has until the end of February to make a decision…“While the panel has concluded that the project is in the public interest, project and cumulative effects to key environmental parameters and on the asserted rights, use of lands and resources for traditional purposes, and culture of Indigenous communities have weighed heavily in the panel’s assessment,” the report stated, adding that the project would likely result in significant adverse effects to wetlands, old-growth forests and biodiversity, as well as to Indigenous people in the area…“The proposed mitigation measures have not been proven to be effective or to fully mitigate project effects on the environment or on Indigenous rights, use of lands and resources, and culture”…the panel also concluded that over the project’s projected lifespan of 41 years, the federal government could expect to reap $12 billion in taxes and Alberta could rake in $55 billion, with another $3.5 billion in municipal property taxes…
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July 28, 2019
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