Pit To Pier – A reversal and a second reversal- Canadians buy into 1/4 of Pit to Pier- PDN

As you can see from the comment by the PDN publisher, apparently there was a mistake in the PDN source on the story. I feel better in that I’m not the only one making mistakes today (I inadvertently went to Seattle for a board meeting that I have gone to for two years every third Weds!). Luckily I had other business down there…No problems Mr. Brewer, I’ll leave this up for a day or so, so that the correction can be noted.

Not sure yet whether Chris Dunagan’s article was a mistake, or whether this reversal happened just afterwards. But as I said before, it’s appears to be another new chapter.
1/13 Peninsula Daily News
Canadian firm buys quarter share of ‘pit to pier’ gravel mining project near Hood Canal Bridge
By Jeff Chew
Peninsula Daily News

SHINE — Athabasca Minerals Inc. of Canada will purchase a 25 percent stake in the Thorndyke Resource “pit to pier” gravel mining project now under Jefferson County planning review.

According to a statement from the publicly traded company based in Edmonton, Alberta, it will invest $3 million and assume a minority partnership in Thorndyke Resource, the company formed by the Fred Hill Materials family to develop and operate the pit-to-pier project proposed south of the Hood Canal Bridge.

Fred Hill Materials proposes building a 4-mile-long conveyor belt to Hood Canal to move gravel to a 1,000-foot pier and load it on barges for transport.

Alex Hill, Fred Hill Materials and Thorndyke Resource chief executive and a grandson of the company’s founder, said Athabasca brings additional experience and financial backing to the pit-to-pier project.

The rest of the story is here…

One Response

  1. Athabasca Minerals Inc. of Canada is NOT acquiring a 25 percent share of Thorndyke Resource’s “pit to pier” project in Jefferson County.

    Our report was based on outdated information.

    A correct report will appear in Thursday’s PDN.

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