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June 5, 2018

There are two visions of engaging with First Nations on mining projects in Manitoba.

The first will likely lead to considerable opposition and increased delays. The second focuses on meaningful consultation with Indigenous groups and is destined to move development forward.

One can only hope that policy-makers adopt the latter vision and reject the former.

The first vision is contained within Bill C-262, which is before the House of Commons. It supports the United Nations Declaration on the Rights of Indigenous Peoples Act.

Bill C-262 is a private member's bill introduced by NDP member of Parliament Romeo Saganash. It seeks to ensure that all laws of Canada are consistent with the UN Declaration of the Rights of Indigenous People (UNDRIP).

Canada has removed its objector status to UNDRIP that was placed by the previous government, which was concerned the international declaration would violate Canada's laws. The major point of contention in UNDRIP was Article 32, which arguably gives Indigenous communities "free, prior, and informed consent" over any project that affects their lands and territories.

The concern held by many Canadians has been that this article gives Indigenous communities full consent before any project can proceed. Thus, Indigenous communities have veto power over developments. This can be a massively contentious and probably destabilizing restriction on development projects.

To this point, the Canadian Constitution and courts have been about balancing rights and interests of Indigenous people and other citizens, and not to make these rights absolute. Our courts have limited the rights of Indigenous people in vetoing development projects to a duty to consult and accommodate their interests.

That's a much lower threshold than those proposed in Bill C-262.

While the present government says that UNDRIP doesn't grant a right of veto, many First Nations behave like it does. So First Nation consultation continues to be the strongest deterrent to mining projects in Manitoba.

As a result, if Parliament passed C-262 in its current form, First Nation activists and communities would be emboldened to continue to act like UNDRIP gives them a right to veto mining projects.

It has passed second reading and is before the Standing Committee on Indigenous and Northern Affairs. Therefore, there is still an opportunity for corrective action.

This bill ought to die in the House.

The second vision is, surprisingly, contained in the Manitoba government's recent mineral development protocol with First Nations. The protocol was the outcome of an agreement between the provincial government, First Nations and mining companies. The aim is to provide a predictable policy environment for mining exploration and development in northern Manitoba.

Capital-intensive and long-term ventures like mining require predictable rules that don't change. Let's hope the Manitoba government sticks to this protocol through thick and thin, and that the federal government doesn't enact Bill C-262.

So far, major mining companies have been optimistic about future development in the north. In an interview with the Thompson Citizen, the president of Barrick Gold Corp. - the world's largest gold producer - posits that "many understand the untapped development potential that exists in Manitoba."

There are, in fact, "many new mining opportunities, and the base of skilled workers to support them. The effort of Manitoba's provincial government to improve business conditions is positive, particularly for newer, growing resource development companies."

In 2016, the NDP government helped advance mining exploration and investment in Manitoba when it increased the tax credits for mining exploration and development. The current Progressive Conservative government has promised to consult with Indigenous people before development takes place. This has resulted in a more predictable environment, which will ideally lead to more mining projects.

Obviously, expanding mining projects in northern Manitoba will help Indigenous communities that will sign benefit agreements with the companies. More northern people, both Indigenous and non-Indigenous, will be employed. As well, such developments will benefit the provincial treasury, something that the government needs.

The road to a more prosperous future lies in a vision that takes First Nations into consideration. It's time to get on the right road.

 
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VANCOUVER, June 5, 2018 /CNW/ - Permex Petroleum Corporation ("Permex" or the "Company)" (CSE: OIL) is pleased to announce that it has signed a Purchase and Sale Agreement ("PSA") with Energy Properties 2000-1 LLC ("Energy Properties" or "Seller"), a partially owned company of Wilbanks Reserves Corporation ("Wilbanks"), for the purchase of all the Seller's rights, title and interest in the ODC San Andres Unit and W.J. "A" Taylor lease (the "Assets") located in Gaines County, Texas.  

Permex will also become the operator for the property; the other major working interest partner on the field with Permex will be Occidental Petroleum Corporation ("Occidental") (NYSE: OXY), an international oil and gas exploration and production company with operations in the US, Middle East and Latin America with a market capitalization of approximately $65.19 Billion as of the date of this release.   

The property is just under two contiguous sections for a total of 1,220 gross acres, all held by production ("HBP") with all rights and no depth restrictions in the Central Basin Platform of the Permian Basin. There is a total of 52 vertical wells of which 26 are producers, 21 are injection wells, 4 are shut in wells, and one is temporarily abandoned.

The field currently has a gross daily production of 158 barrels of oil per day and 13 thousand cubic feet of gas per day from the San Andres and Devonian formations. In management's opinion, significant additional formations below the current production zones exist; these include but are not limited to the Glorieta, Abo, and the highly sought after Wolfcamp. There are also additional up-hole formations above the current producing zones available on the field for further testing, which include but are not limited to Yates, 7 Rivers, Queen, and Grayburg. Permex has retained an independent engineering firm to further evaluate the reserves attributable to the property beyond the proved developed producing reserves identified pursuant to an internal engineering study conducted by Wilbanks, which evaluation will also consider any proved developed non-producing, proved undeveloped, probable and possible reserves attributable to the property.

Permex will take over 41.4% working interest with a 34.7% net revenue interest and an additional 0.006% overriding royalty interest with 0.21% royalty interest in the ODC San Andres Unit. Permex will also take over 48% working interest with a 41.51% net revenue interest and 0.083% royalty interest in the W.J. "A" Taylor lease.  Under the terms of the PSA, the Company is acquiring the assets for a total purchase price of approximately US$1.95M in cash, which also includes over US$1.2M in equipment on the field and the yard within the lease.

This acquisition is in line with Permex's strategy of acquiring and developing high-quality assets with outstanding economics in the Permian Basin.  "This acquisition represents a significant milestone for us," said Mehran Ehsan, President, Permex Petroleum Corporation. "Providing us with access to a truly high-quality oil and gas field and immediate production to accelerate and execute our business plan to scale the Company. In addition, it gives us an opportunity to work side by side with one of the largest oil and gas producers in North America. We plan to continue operations, design a comprehensive frac re-entry program to submit to Occidental through an "Authority for Expenditure" for approval, as well as review the acreage for additional drilling into the San Andres formation as spacing allows."

Some of the offset operators to this property include Occidental Petroleum (NYSE: OXY), Devon Energy (NYSE: DVN), Hess Corporation (NYSE: HES), Fasken Oil and Ranch. 

 
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WILMINGTON, Del., June 4, 2018 – DuPont Safety & Construction, a business unit of DowDuPont Specialty Products Division, today announced plans to invest more than $400 million to expand capacity for the manufacture of Tyvek® nonwoven materials at its facility in Luxembourg. The production expansion, which will add a new building and third operating line at the site, is scheduled to start up in 2021.

“Global demand for DuPont™ Tyvek® continues to grow worldwide in all of our key end-use markets,” said Rose Lee, president – DuPont Safety & Construction. “This capacity expansion plan is a critical step in growing the Tyvek® business, maintaining our leadership in nonwoven materials, and delivering the innovation customers expect from DuPont.”

According to industry estimates, the global segments for potential Tyvek® use total several billion dollars.

A world leader in nonwoven technology, in 2017 DuPont celebrated the 50th anniversary of DuPont™ Tyvek®, a unique nonwoven material made of 100 percent high-density polyethylene that has enabled new dimensions of protection, security and safety in a wide variety of industries and applications. Core segments include:

  • Building envelope solutions, such as Tyvek® HomeWrap®, Tyvek® CommercialWrap®, DuPont™ Flashing Systems and Tyvek® Protec™ to create more comfortable, energy-efficient buildings with fewer chances for moisture damage caused by water buildup;
  • Tyvek® protective garments, which provide superior protection for workers in industrial and cleanroom applications and for first responders. Companies around the world use more than 200 million Tyvek® garments per year.
  • Tyvek® for medical packaging, widely used to help protect patients in healthcare settings. Since its introduction to the medical device industry more than 45 years ago, Tyvek® has been recognized as a standard of excellence for sterile device packaging.
  • Tyvek® for graphics and protective packaging, used in diversified, specialty applications, including cargo covers for pharmaceuticals and perishables, and as a substrate for envelopes, tags, labels, banners, wristbands, maps and artwork.
Click image to download file.
DuPont™ Tyvek® HomeWrap®
DuPont™ Tyvek® Packaging
DuPont™ Tyvek® IsoClean®
DuPont™ Tyvek® Cargo Covers
Lumio Lamp

Tyvek® has had a tremendous impact across numerous industries, resulting in the creation of new categories of products, such as house wrap, which helped revolutionize home construction; setting new standards for personal protective apparel; enabling advancements in medical device technology; and playing an important role in many other applications. DuPont, along with its customers, continue to develop new Tyvek® products and applications to meet evolving marketplace needs. Designers of consumer products for lighting and fashion accessories and apparel are increasingly demanding Tyvek® for their products because of its lightweight durability and texture.

For Greater Good™ is the promise of the DuPont™ Tyvek® brand. Tyvek® can provide the trusted protective barrier people need so they can worry less and focus on accomplishing bigger things – making the greater good possible.  Photos of Tyvek® applications may be downloaded from the Tyvek® Media Center.

 
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TORONTO, June 4, 2018 /CNW/ - TorQuest Partners, management and co-investors announced today the successful completion of the previously announced sale of WSB Titan ("Titan"), Canada's leading independent building supplies dealer, to GMS Inc. (NYSE:GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems.

"Titan has grown rapidly to become Canada's leading distributor of wallboard and other building supplies for new construction and renovation. Its tremendous success is a result of the company's strong value proposition and service delivery excellence, and the hard work and expertise of its many talented and dedicated employees, led by Doug Skrepnek, Gord Coutts and Ryan Shoemaker," said TorQuest Partner Matt Chapman. "TorQuest has been an ideal partner for us as we have built and grown WSB Titan. Their integrity, creativity and discipline made them the firm we wanted to partner with for this stage of Titan's growth. We are delighted with the success of our partnership with TorQuest, and excited about the next chapter of our business evolution as part of GMS," added Doug Skrepnek, CEO of Titan. 

The completion of this acquisition further strengthens GMS's position as one of the largest wallboard distributors in North America, with combined revenues of approximately
$3 billion and more than 240 branches throughout 42 states and 5 provinces in Canada.    

Titan will operate as a subsidiary of GMS going forward and will continue to be managed by its existing management team, led by Doug Skrepnek as President of GMS Canada.

 
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LAS VEGAS, June 4, 2018 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has entered into an agreement to acquire Mizpah Mines, LLC, which has an option to purchase the Sparrow patented mining claim at Tonopah, Nevada.  Also known as the Mizpah Extension Mine, the property contains substantial mine dumps from the Tonopah Belmont Mine, one of Tonopah's major past silver and gold producers.  Initial dump sampling at the Mizpah Extension Mine has indicated anomalous gold and silver values.

Tonopah is a well-known Nevada mining district discovered in 1900.  Second only to the Comstock Lode in Nevada historical silver production, Tonopah and nearby Goldfield were together responsible for restoring Nevada's mining industry in the early 20th Century.  Total recorded production for the Tonopah District from 1900 to 1950 was 8,800,000 tons of ore, from which 1,861,000 ounces of gold and 174,153,000 ounces of silver were recovered with a total value of $147,564,015 (historical dollars, when gold was $20.67 or $35 per ounce). Tonopah is located midway between Las Vegas and Reno, Nevada and is conveniently accessed by US Highway 95 and US Highway 6.  Utilities are available.

The Mizpah Extension mine was last worked by the Tonopah Belmont company under lease.  The Tonopah Belmont Mine produced a recorded 2,019,068 tons of ore from 1906 to 1940, with a value of $38,362,293 (in historical dollars). 

In addition to the mineral potential believed to exist in the property's dumps, Bonanza Goldfields is looking to establish a permanent base of operations on its own private property at Tonopah in support of its nearby Thunder Mountain Gold project.  This could be similar to the Company's Tennessee Avenue facility at Chloride, Arizona and the Hull patented mining claim at Congress, Arizona.  The Company will be evaluating the Mizpah Extension property (as well as other available sites in Tonopah) from this perspective in coming months. 

About Bonanza Goldfields Corp.: BONZ is a Las Vegas–based mineral exploration and mining company.  We are exploring gold and silver properties located in the Comstock, Tonopah and Thunder Mountain Mining Districts of Nevada, and the Chloride, Oatman and Congress Mining Districts of Arizona.

Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances and various other factors and risks.

Contact: 

Fred Bauman, General Counsel 
702-357-0555
Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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