Updates on Exxon/Mobil-WCC LNG, Petronas, Woodside, Chevron, KSM, IOC, Mitsubishi
Vancouver, B.C. –January 13, 2015 – Highbank Resources Ltd. (the "Company"), TSX Venture: HBK.
Victor N. Bryant, CEO/President comments, "Looking back over the last year at what the Company and shareholders have accomplished, I am impressed by all the milestones surpassed in 2014." Hannah Bernard, Founder-Viral Media Group has prepared a splendid "Highbank milestones achieved" Video http://ow.ly/G4CU9. Victor Bryant further comments: "Although presently we are not in production… Swamp Point North ("SPN) is production ready for Q1 2015. During 2014, our Company has been inundated with requests for quotations on a variety of infrastructure projects. I would like at this time to provide guidance regarding future potential for 2015 and onward."
The Company has quoted on: the Container Port expansion to Ledcor; the proposed Canpotex, potash export terminal; Bechtel Engineering for Petronas/PNW LNG; Royal Boskalis Westminster N.V. for subsea pipelines. Golder Associates Ltd. has also made a site visit on behalf of their client, Imperial Oils partner in WCC LNG, to examine our material for construction suitability. The bulk of these projects are slated for 2015/16. Preliminary discussions are also ongoing for the potential of shipping our finished aggregates to Alberta and Saskatchewan.
In anticipation of expected increased demands for aggregates, the Company has contracted a highly qualified consultant to progress our application for increased production to exceed one million tons per year.
Promising New Developments:
Globe and Mail & BNN video –January 12/15 – West Coast Canada LNG project, or WCC LNG (Exxon Mobil/Imperial Oil) to spend $25 billion http://ow.ly/HcvpP
Globe and Mail -January 2/15 http://ow.ly/GTDYY This article brought forward some interesting facts specifically the staggering amount of capital already spent and to be spent in northeastern B.C. on drilling and development. What the (Globe and Mail) contributors seemed to have missed is the recent flurry of regional updates. As well, that both Petronas partners JAPEX and IOC is making ready their receiving terminals for B.C. LNG for March and December of 2017 respectively.
The District of Port Edward and Pacific NorthWest LNG announced that a 25 year agreement-in-principle in support of infrastructure and services totaling approximately $150 million has been reached - http://ow.ly/G4PLh
Pacific NorthWest LNG signs agreement with Metlakatla First Nation – http://ow.ly/GjgJa
Kitselas First Nation and Pacific NorthWest LNG announce signing of an Impact Management Benefits Agreement (IMBA) term sheet –http://ow.ly/GlYhW
Pacific NorthWest LNG will be hosting Open House meetings in Terrace, Port Edward and Prince Rupert, from January 13-15, 2015 respectively – http://pacificnorthwestlng.com/community-benefits/community-update/january-2015-open-houses/
JAPEX sells 10% stake to Mitsubishi Gas Chemical Company, Inc. (MGC) of its 10% stake in Petronas PNW LNG proposed project http://ow.ly/GiZkk as stated in our previous news release dated November 25, 2014, Mitsubishi has commenced construction of their LNG facility.
The Indian Oil Corporation ("IOC") has tied up the source of 1.9 million tonnes of natural gas, including 1.2 million tonnes from British Columbia. The projected completion date for this LNG terminal to receive B.C. LNG is late 2017 - http://ow.ly/GUaXQ
I applaud Perth-based Woodside Petroleum Ltd.’s purchase of Apache Corp.’s stake in the under-construction Wheatstone LNG project in Western Australia and the proposed Kitimat LNG facility (50% joint venture with Chevron Corp.) in British Columbia - CBC story- http://ow.ly/G4Qfn
The "World’s greenest Refinery proposed for the West Coast" http://ow.ly/G4TEb. I concur with Mr. Stockwell Day’s comments that lower fuel costs will only be beneficial for industry, this applies particularly to Swamp Point North where a large component of our operating cost is fuel.
Canada’s Minister of Environment gave the green light to Seabridge Gold’s KSM project in British Columbia, the world’s largest undeveloped copper-gold project by reserves. During construction, Seabridge will spend $3.5 billion in British Columbia and $6 billion in Canada. This mine site is approximately 100 km from our Swamp Point North deposit, of that 50 km by water – http://ow.ly/Gj3dz
In review, the Company is extremely pleased with the progress we have made over the last year. We have taken an exploration project to a production ready facility; designed and obtained all necessary permits, approvals, and licenses to build and operate an oceanside aggregate quarry; raised project financing during an extremely difficult global market trend; and above all constructed a significant remote commercial barge and ship load-out facility. Overall, a huge effort for a small Company, with few employees. Given the progress to date, we are excited about the potential for 2015 and subsequent years.
On behalf of the Board of Directors of
HIGHBANK RESOURCES LTD.
"Victor N. Bryant"
Victor N. Bryant,
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Forward-looking statements are projections of events, revenues, income, future economic performance or management’s plan and objective for future operations and include, without limitation, statements with respect to the anticipated production from the Swamp Point North Aggregate Project, the realization of mineral estimates, success of mining operations, the timing and amount of estimated future production, title disputes or claims, environmental risks, limitations on insurance coverage, current and anticipated purchase negotiations and arrangements, requirements for additional capital; and government regulation of mining operations. In some cases, you can identify forward-looking statements by the use of terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors, including: fluctuations in worldwide prices and demand for aggregates; changes in project parameters as plans continue to be refined; possible variations in grade and or recovery rates; accidents, labour disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, are filed and available for review on SEDAR at www.sedar.com.