Pit to Pier funding falls through – End near?

Well, well well. Not totally surprising, given the economy. But here it is… end of the story or just another chapter closing?

1/10/10 Kitsap Sun —Financing Deal for Hood Canal Pit-to-Pier Project Falls Through
By Christopher Dunagan

POULSBO —  A Canadian company and the Hill family of North Kitsap have broken off a relationship that could have brought $3 million to a pit-to-pier gravel project proposed in Jefferson County.

Athabasca Minerals Inc. of Edmonton, Alberta, and Thorndyke Resource of Poulsbo never completed the terms of an agreement, which would have given Athabasca a 25 percent ownership <http://www.kitsapsun.com/news/2009/sep/11/pit-to-pier-mining-operation-expands-ownership/>  in the pit-to-pier project.

Alex Hill, owner of Thorndyke Resource, said he has received “considerable investment interest” in the project.

“After further considering their (Athabasca’s) proposal, we have chosen another funding alternative more beneficial to the Thorndyke Resource project,” Hill said.

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