A rise in base metals prices in at the end of the third quarter may indicate better times ahead for B.C.'s junior miners, according to the Association for Mineral Exploration British Columbia (AME BC).
In his third-quarter industry update, AME BC president and CEO Gavin Dirom said that a 12% rise in base metals prices at the end of September compared with three months previous was "perhaps a sign of better times ahead."
Dirom added that, while B.C.'s exploration appears to be down from last year's "record-breaking pace" and expenditures of $463 million, the industry is still attracting significant investment, led by:
- New Gold (TSX: NGD)'s Blackwater project;
- Pretium Resources (TSX:PVG)' Brucejack project; and
- Seabridge Gold (TSX:SEA)'s KSM project.
However, while Dirom vaunted B.C.'s geological potential, he cautioned that the province needs to ensure that it doesn't rest on its laurels. He spoke out against the provincial government's decision to deny an Environmental Assessment Certificate to Pacific Booker Minerals Inc. (TSX-V:BKM) for its Morrison copper-gold mine project.
Dirom said the decision "does not appear to represent a science-based decision making process that was transparent, logical or clear."
Pacific Booker has also recently been pushing back against the province's decision.
