Mr. Byng Giraud, former VP at Imperial Metals and now VP for Woodfibre LNG, seems to have a management problem. And its one that we in Squamish want nothing to do with. Even if he thinks the location for the proposed Woodfibre LNG facility is a perfect site for industrial activity. Its great. Aleksandra Bukacheval, an analyst at BMO Nesbitt Burns Inc., estimated the cost to Imperial Metals at $200 million, reported the Financial Post. She called the event extremely negative for the company. Legal damages could double that amount. Notice of a class-action lawsuit was filed last week on behalf of shareholders who bought stock after August 2011, reported The Vancouver Sun. The newspaper reported Imperial Metals has $15 million in property and business interruption insurance, which is likely not enough to cover cleanup costs. In comparison, it cost hundreds of millions of dollars to clean up the 1998 Los Frailes mine waste dam collapse in Spain. Over the weekend, the engineering company that designed the Mount Polley tailings pond issued a statement saying it warned the project and the province about potential risks, reported Global News.
Posted on: Mon, 11 Aug 2014 23:42:56 +0000