Memorandum of Understanding (“MOU”)
Highbank has signed a MOU to permit the Company to complete due diligence on a more than 1,000 ha potential aggregate property on Vancouver Island. The property is accessible by road and deep water shipping entry. The due diligence will allow Highbank to conduct preliminary assessment of the Claims by reviewing existing reports, data and mapping provided by the Vendor. The Company will undertake preliminary collection of market potential information related to rock and aggregate products; and will consult with Provincial, Federal, local governments and First Nations to ensure that there are no conditions that will preclude the creation and operation of mining and shipping facilities on the Claims.
Highbank shall undertake to complete such review as quickly as possible and in any event prior to April 30, 2016.
In the News:
AltaGas Ltd. Advances its Canadian West Coast Property Export Facility
Altagas newsroom – January 20, 2016 – http://ow.ly/XmZyq
AltaGas Ltd. (TSX: ALA) announced that a sublease and related agreements have been signed with Ridley Terminals Inc. (“Ridley”) to develop, build, own and operate the proposed Ridley Island Propane Export Terminal (the “Facility”), to be located on Ridley Island near Prince Rupert, British Columbia on a portion of lands leased by Ridley Terminals from the Prince Rupert Port Authority.
The proposed Facility will be designed to ship up to 1.2 million tonnes of propane per year and will be constructed by AltaGas. It will be built on a brownfield site with a history of industrial development, connections to existing rail lines and an existing world class marine jetty with deep water access to the Pacific Ocean. Propane from British Columbia and Alberta natural gas producers will be transported to the Facility using the existing CN rail network.
“Ridley Terminals is encouraged by this concrete step to diversify products shipped from our facilities while sustaining and creating new jobs in the community,” said David Kirsop, Chief Operating Officer and President of Ridley Terminals.