In the video I posted you can see the unmanned Kupe gas/oil rig directly next to TTRs claim. I would have thought the idea of an accident there and its impact on the beach and local environment about 100x worse than a few plumes of sand that may stray from a dredging operation.
The key factor to me seems like the 2016 application didn't specify clearly enough how it would ensure the environmental impact would be limited even though it was approved in 2017. Their initial one in 2013 had failed. It seems that TTR have further refined their mining process since 2016 but they will need to reapply to the EPA to get it approved. So therefore it seems like TTR wasted time going to the courts thinking they could tack on a few things without due process and the judge would side with them.
I looked at the cost/benefits numbers in their application and it is funny how much more money it would make annually now compared to then. Which is in favor for the project obviously as politicians love to say big juicy numbers as reason why something should be done at some cost to the environment. The fact there is that gas/oil rig right next to it seems a bit interesting to me, how did they get the go ahead? Given that the project looks to be making somewhere between 5 and 10 times cost there should be some additional environmental things they can tack on to sway it, maybe, who knows. All I know is every year regulation gets worse.... but sour economic times usually make it easier to get things pushed through and we are definitely heading into some great depression type stuff.
MKR Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
