Thursday, May 28, 2020

Shandong Gold bid for TMAC Resources

Although below the threshold for automatic review by Investment Canada Act (and a mine that has not lived up to its production expectations), given the recent comments by China after yesterday's Meng court decision, surely this transaction will be scrutinized to the highest degree without the Liberal pandering and pacificism it has for China and China relations. If not, there is a risk, maybe small, of the (state-owned) Chinese gold producer, Shandong Gold, to likely have the ability to run amok and do as it wishes in the remote north with regards to environment, security, (non) employment of Canadians, proximity to Canadian military space, 5G networks/communications and crossing Canadian borders. Ask the Yukon territory if they are pleased with Yukon Gold and its Wolverine mine, acquired by Jinduicheng Canada Resources Corp., a private Chinese company. Despite many issues of operating such a mine/business, the territory is left with a +$25M clean up bill after bankruptcy was declared and Jinduicheng Canada Resources Corp left.
https://business.financialpost.com/commodities/ottawa-to-scrutinize-chinese-acquisition-of-gold-miner-as-huawei-case-reaches-crucial-stage#comments-area

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