From The Stockcharts Blog

BARRICK AND NEWMONT MINING TURN UP

$SPTGD

The S&P TSX Global Gold Index seems to be waiting for a higher gold price here, mostly because the momentum on the Wilder's ADX remains at an extreme low. June 28 was the announcement date for the DFO bad faith action against GBN.V, a hair before a major downturn in gold markets, from which the share price never recovered, though it has been indexing with the gold price and $SPTGD somewhat. This is as good an example as you're going to get on what effect the DFO has had on this play. This situation must be resolved before it can catch up to the rest of the gold market, GBN.V has been unfairly singled out. GBN.V management is obfuscating this fact, or living in denial.



Stockcharts.com $SPTGD

Weekly Analogous Chart

RSI likely to form a "cap" during November, signalling an interim top. Sideways motion for the gold price will probably ensue into Q1 2010.



Stockcharts.com Large Annotated Weekly Analogous Chart

Prince George Citizen Article About Mt. Milligan, In Case Anyone Missed It

I attended the Mount Milligan federal environmental presentations in Prince George, and frankly, came away very concerned. The federal Department of Fisheries and Oceans conducted a "comprehensive assessment report" approving the go-ahead of the project.

On that basis, Environment Canada will recommend to Cabinet to turn fish-bearing King Richard Creek and Alpine Creek into tailings impoundment areas.

Terrane Metals Corp. very recently released a feasibility study that indicated a third more gold and copper at the Mount Milligan mine site, and the government review process is not considering this recent feasibility study, nor its full potential implications (more digging, bigger pit, more tailings).

Federal fisheries has therefore reviewed and approved a smaller project than what this mining company is in fact planning. When I asked about this omission, the Terrane representative stated they would apply for a federal government amendment for the increased mining.

In response, the fisheries representative stated there would be no triggering event to require such amendment or any further federal environmental review.

Asa result, what we have here is a mine receiving government approval toproceed, the full extent of which project is not even being considered through the provincial or federal environmental assessment review process... this sets a precedent for any mining company to go through the environmental assessment processes on the pretense of developing a smaller mine, then without any kind of further review of impacts to watersheds and fish, increase operations significantly.

Members of the public have until Saturday to express concerns about conclusions,recommendations and any other aspect of the comprehensive study report for this mine can be found at MountMilliganCSR@ceaa-acee.gc.ca.

Environment Canada will receive public comment about whether King Richard Creek and Alpine Creek should be converted to "tailing impoundment areas" until Nov. 12.

Mary MacDonald
Prince George

Prince George Citizen

F6