I have two comments to make about this article:
1) No matter what the good intentions are here...Read the fine print...It may just be written in Chinese, which means any loans provided to the country in question by Chinese banks may have stipulations that should any monies owed go into default that other assets can be secured as collateral. The Chinese are notorious throughout Africa, and other countries, for promising economic prosperity to these third world governments. When, in fact, they set up shady deals, and loans, that they know these countries cannot afford. Eventually, these countries fall into defaulting situations where the fine print on contracts allow those owed to either take full ownership of the project, or other assets owned by the country which are of equal value, to cover these defaults. I'll say it again IMO...Forrest = China...So be wary.
2) In respect to Canada, and the Ring of Fire. If Canada allows the Ring of Fire to be taken by Mr. Forrest then we as taxpayer's should be extremely angry. Just think of all the money our government has spent on the Matawa First Nations, and EA studies, in preparation for jobs and roads to the Ring of Fire. We have paid to win the trust of our First Nations. Whose best interests have always been looked after, with the future prosperity of all in mind. Over the years we taxpayer's have endured hundreds of millions, even billions, of dollars coming out of our pockets to promote this. Now, we see we have a guy willing, with his group of investors, to flip the bill for all the stuff we've already organized and paid for...AND...Now we're going to be sweet little Canadians and wrap this nice big present up for him practically free of charge, so he can pay pathetic taxes while owning it, and collect a veritable endless wealth from it. Makes my blood boil....
I'll stop there, because after this rant about our government, because inevitably my sights will turn to Noront next. The public has just as much a right to know where there money is going as do investors.
TM.
