If you look at the companies with coal leases in AB you'll notice they're VERY small companies that only exist for a specific project (Ex. Montem, Ram River, Atrum) or they're a subsidiary of a mining major. (Benga)
We should all be concerned about this... 1/n
For instance...
Montem: 0.23 cents per share, market cap $46M, Sept 2020 IPO
Atrum $0.26 cents per share $150M market cap
Benga, limited subsidiary of Riversdale resources, which is a subsidiary of the mining giant Hancock Prospecting (still with me?) 2/n
Companies like Montem and Atrum with market caps in the 10s or 100s of millions don't have a chance at being able to pay cleanup costs unless the project is a screaming success.
For comparison, Teck Coal has a market cap of 12.59 BILLION.
Another thread on one of many coal companies aiming to set up shop in Alberta, putting our mountains, water, and nature at risk.
Today's focus: Water 1/10
⏬🚨⏬THREAD ⏬🚨⏬
Here's a map of Ram Coal Corp's leases and their "Aries" project. All on former cat 2 land where open pit coal mining would have been prevented by the now rescinded 1976 coal policy
200+ sq km of leased land for coal exploration, only 15km from the N. Sask river. 🏞️
2/10
Remember @albertandp plan to protect the Bighorn Wilderness that the UCP were angry about and scrapped?
"There was a tremendous amount of economic concerns and questions that were not answered." - Jason Nixon
OK #ableg and #mountainsnotmines Friends:🚨
I took a look through Atrum Coal's project documents for their Elan coal (open pit mining) project in Southern Alberta so that you don't have to.
First, let's start with an overview of the project...🧵 1/8
Located on former cat 2 lands, the open pit mining site "possesses the potential for multiple large scale mining operations", covering 230 sq km from Crowsnest Pass to Chain Lakes🤯
Oh, and is that the Oldman River on the southern end of it? Why yes, yes it is. 2/8
This is from their investment video -- "We're going to make a lot of money but say bye bye to that mountain" 👋 3/8
Celebrating the UCP “Red Tape Awareness Week” by looking at the changes to EMS dispatch *in the middle of a global pandemic* that WILL cost lives. cbc.ca/news/canada/ca…
"Tara Veer, the mayor of Red Deer, says the consolidated system means fire departments will not automatically be dispatched to an emergency call and that those crews are often the first to arrive, given the strain on the ambulance system. "