Gold is the train wreck trophy wife of your financial portfolio

Provided by Michael Taylor of the Houston Chronicle:

A significant portion of the Financial Infotainment Industrial Complex dedicates itself to selling you gold, as an investment.

I’m here to tell you: Resist.

I have already written about the three other horsemen of your personal financial apocalypse: variable annuities, time shares and bitcoin.

The commonality of these four horsemen is that they are sold to credible people as “investments” when they are really the opposite of investments. All four act as a drain on your net worth.

Gold fails the fundamental test of what constitutes an actual investment…
Read Full Article

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Why gold doesn’t glitter as an investment

Gold and other precious metals are often seen as an alternative investment class, with similar standing to shares and property. It may be another asset, but I think it’s one of the worst for long-term growth.

Albert Einstein once described compound interest as the eighth wonder of the world, he who understands it earns it, he who doesn’t pays it. It’s a fantastic quote and it’s the reason why shares are the best to own in the long-term.

The key thing to remember with compound interest is that the asset produces profit and that profit can be reinvested into producing more profit.

Gold is a beautiful material, it has attracted people throughout the centuries. However, ultimately, it is just a shiny material. It doesn’t generate any profit, dividends or rent. It can’t compound if it can’t generate any money… Read Full Article

How to Lose Money: Invest in Gold Stocks

“How to make a million? Start with $2 million – and invest in gold stocks!” – The Maxims of Wall Street (revised for gold bugs).

What is by far the most dangerous and high-risk sector of the market? Gold stocks!

Recently, I spoke at a gold bug convention, and after my talk, I was surrounded by several doctors, lawyers and other professionals who confessed that they had lost 70% of their portfolios.

“How is that possible?” I asked. “The stock market is at an all-time high!”

“We listened to the doom-and-gloom talks from speakers at this conference five years ago,” they admitted. “We sold out of the stock market and bought mining companies promoted here at this conference.” … Read Full Article

Economic Expectations Spells Trouble for Gold Price

Behavioral finance points to $1,050 gold price

Frankfurt-based Sentix, a leader in the emerging field of behavioral finance, has been compiling sentiment indices since 2001 by surveying more than 4,500 institutional and private investors.

The latest reading of the Sentix index of economic expectations spells trouble for the gold price.

Capital Economics, a London-based researcher, in a research note points to this graph to provide support for its prediction that the gold price would be trading at $1,050 an ounce by the end of the year… Read Full Article

Mining stock fraud: an old trick that still works

Investors can’t resist the lure of striking it rich and that mentality is a goldmine for scammers. Preying on investors’ fever for treasure they make money on worthless gold, oil, diamond and iron ore claims. Modern technology makes it easier for investors to guard against being cheated – but it still happens every day.

The colorful vocabulary of mining investment fraud – pump and dump, boiler rooms, stooges – has been associated with fleecing investors at least since the creation of the modern stock market. Frauds themselves have been around as long as people have been digging holes in the ground… Read Full Article

Gold Prices Fall on Strong Jobs Data

Employment figures lift case for higher interest rates, which would dent precious metal’s appeal

Gold prices extended losses on Friday after a better-than-expected jobs report dented safe-haven demand and increased concerns that the Federal Reserve could raise interest rates in the coming months.

Gold for December delivery settled down 1.7% at $1,344.40 a troy ounce on the Comex division of the New York Mercantile Exchange, its biggest one-day loss since May 24.

The U.S. economy added 255,000 jobs in July, beating economists’ expectations of 179,000 and signaling that the labor market is on strong footing… Read Full Article

Permits being sought for Pearce mine by Marlin Gold

Marlin Gold Mining LTD

Permits are being sought to proceed with the construction of a gold and silver mine in the Pearce–Sunsites area, a community of about 2,100 residents just east of the Dragoon Mountains.

The Commonwealth Mine Gold and Silver Project was acquired earlier this year by Marlin Gold Mining, LTD, a publicly -traded mining company with projects in Mexico and now Cochise County.

In its description of the local mine, Marlin reports on its website that “permitting is in process,” for the project and a consultant’s report to the company outlines an 11-year project that will cost more than $55 million to complete… Read Full Article

Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. Going After Our Limited Water Supply in Pearce, Arizona

If you haven’t been too worried about the Commonwealth Mine Project in Pearce, Arizona, now is the time to worry… Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. (both Canadian mining companies) have signed an arrangement agreement to start taking water for their open-pit cyanide mine from our already limited water supply. To make things even more concerning, the following press release by Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. states in bold text, “NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.” If you think the Wall Street criminals that caused our financial crisis in 2008 were bad news, they’ve got nothing on the Canadian mining industry who will do whatever it takes to get what they want including, harassment, rape, and even murder

Make sure you look at the last two paragraphs of this press release, which clearly state, “In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks)“, AND “This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person...”

We must come together as a community and get these “big money” environmental criminals out of our community as quickly as possible. We need to keep calling Governor Brewer at (520) 628-6580 and John McCain at (520) 670-6334 and demand that we want these Canadian mining criminals out of our community. 

Below is the press release in full, followed by screenshots…

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PRESS RELEASES 6/6/2014 2:06:22 PM | Marketwired News

Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. Sign Arrangement Agreement

2014-06-06T18:06:22+00:00


VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO–(Marketwired – June 6, 2014) –

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. 

Delta Gold Corporation (TSX VENTURE:DLT) (“Delta Gold”) and Commonwealth Silver and Gold Mining Inc. (“Commonwealth Silver”), a privately-held company incorporated under the laws of Canada, are pleased to announce that, further to their joint news release issued on April 24, 2014, they have signed a definitive arrangement agreement (the “Agreement”) with respect to the proposed business combination (the “Transaction”) which would result in a reverse takeover of Delta Gold by Commonwealth Silver, thereby resulting in a going-public transaction for Commonwealth Silver.

Transaction Details

Under the terms of the Agreement, Delta Gold’s outstanding common shares (each, a “Delta Share”) will be consolidated on a 20:1 basis (the “Consolidation”). In connection with the Transaction, Commonwealth Silver expects to complete a concurrent financing of between $3 million and $10 million (the “Financing”), the terms of which are discussed in greater detail below. Shares of Commonwealth Silver (each, a “Commonwealth Share”) will be valued based on the price and terms established for the Financing. As a result, it is expected that Shareholders of Commonwealth Silver will receive 0.6 Delta Shares (post-Consolidation) for every one Commonwealth Share held. On a post-Transaction, pre-Financing basis, it is expected that existing Commonwealth Silver and Delta Gold shareholders will own approximately 79.5% and 20.5% of the combined company (the “Resulting Issuer”), respectively.

Commonwealth Silver will amalgamate with a newly-formed wholly-owned subsidiary of Delta Gold pursuant to a statutory plan of arrangement under the Canada Business CorporationsAct. The Resulting Issuer is expected to be named “Commonwealth Silver and Gold Mining Inc.”, will be headquartered in Toronto, and will continue to be listed on the TSX Venture Exchange (the “TSX-V”). On a post-Transaction and pre-Financing basis, the Resulting Issuer will have approximately 46.5 million shares outstanding (55.2 million on a fully-diluted basis).

Closing of the Transaction, as contemplated by the Agreement, is subject to a number of conditions and approvals, which include: completion of the Financing on acceptable terms; approval by the respective shareholders of Delta Gold and Commonwealth Silver; court approval; and the approval of all relevant regulatory authorities, including the TSX-V. There can be no assurance that the Transaction or the Financing will be completed as proposed or at all. The Agreement provides for termination rights, including in the event the Transaction is not completed by September 30, 2014.

Further details regarding the Transaction will be provided in a joint management information circular (the “Circular”) to be mailed to shareholders of Commonwealth Silver and Delta Gold in connection with their respective shareholders’ meetings to approve the Transaction. The parties expect to complete and mail the Circular in early July 2014 and to hold their respective special meetings in early August 2014. The Transaction is expected to close shortly thereafter.

The directors of each of Delta Gold and Commonwealth Silver have unanimously determined (with any interested directors abstaining) to recommend the approval of the Transaction to the shareholders of their respective companies. In connection with entering into the Agreement, directors, officers and major shareholders collectively holding approximately 59.3% of the issued and outstanding Commonwealth Shares and 25.7% of the issued and outstanding Delta Shares have entered into agreements to vote their respective shareholdings in favour of the Transaction.

Delta Gold intends to continue the trading halt currently in effect in respect of the Delta Shares until further notice.

Financing Update

Pursuant to the Financing, Commonwealth Silver will issue subscription receipts (each, a “Subscription Receipt”) at a price of $0.40 per Subscription Receipt. Each Subscription Receipt will be automatically exchanged, prior to the closing of the Transaction, into units (each, a “Unit”), each Unit to be comprised of one Commonwealth Share and one Commonwealth Share purchase warrant (each, a “Commonwealth Warrant”). Each Commonwealth Warrant will entitle the holder to purchase one additional Commonwealth Share at a price of $0.50 until three years following the date of closing of the Financing, which is expected to occur concurrently with the closing of the Transaction. Securities issued pursuant to the Financing are not expected to be subject to resale restrictions upon completion of the Transaction.

Euro Pacific Canada Inc. (“Euro Pacific”) and Edgecrest Capital Corporation (“Edgecrest”) are acting as lead agents in connection with the Financing. The proceeds raised in the Financing will be used by the Resulting Issuer to fund the advancement of the Commonwealth Project (as defined below), the advancement of Delta Gold’s Imperial Project in California, and general working capital purposes. The lead agents and the other members of the syndicate will collectively receive a cash commission equal to 6.0% of the gross proceeds of the Financing and broker warrants (“Broker Warrants”) equal to 6.0% of the number of Subscription Receipts issued pursuant to the Financing. Each Broker Warrant will entitle the holder to purchase one additional Commonwealth Share at a price of $0.40 until three years following the date of closing of the Financing.

Completion of the Financing is subject to certain conditions including, among others, the completion of the Transaction, satisfactory completion of due diligence, and the entering into of a definitive agency agreement.

Acquisition of Property Rights by Commonwealth Silver

Commonwealth Silver is pleased to announce that it has entered into a definitive asset purchase agreement (the “Purchase Agreement”) to acquire approximately 1,327 acres of surface rights and associated water rights (the “Property Rights”) adjacent to its Commonwealth Gold and Silver Project in Cochise County, Arizona (the “Commonwealth Project”). The Property Rights are being purchased from a privately-owned Arizona company (the “Vendor”).

Under the terms of the Purchase Agreement, Commonwealth Silver is acquiring the Property Rights from the Vendor in consideration for an initial payment of US$100,000 plus a subsequent payment of either (i) US$1,400,000, if the acquisition of the Property Rights closes within three months of the date of execution of the Purchase Agreement, or (ii) US$1,500,000, if the acquisition of the Property Rights closes between three and six months from such date. It is expected that the subsequent payment will be made by the Resulting Issuer, immediately following the closing of the Transaction.

Michael H. Farrant, President and Chief Executive Officer of Commonwealth Silver commented, “Our acquisition of these surface and water rights was critical to the development of the Commonwealth Project, including permitting the Project entirely on private land and securing access to future water requirements. This acquisition serves to significantly de-risk the Project and moves us a huge step forward in terms of being able to execute on the mine plan as laid out in the preliminary economic assessment. We are extremely pleased with the progress being made on all fronts, including the Transaction.”

Promissory Note Financing

Following approval from the TSX-V, Delta Gold and Commonwealth Silver have executed definitive loan documentation pursuant to which Delta Gold has advanced to Commonwealth Silver funds in the aggregate amount of $1,000,000, as previously announced on April 24, 2014. Such funds are initially non-interest bearing and are secured by a pledge of the outstanding shares of Commonwealth Silver’s wholly-owned subsidiary.

About Delta Gold and Commonwealth Silver

For further information on Delta Gold, please visit Delta Gold’s website at www.deltagold.com. For further information on Commonwealth Silver, please visit Commonwealth Silver’s website at www.commonwealthsilver.ca. The Transaction presentation will be made available on both companies’ websites in due course.

CAUTIONARY STATEMENTS

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

All statements in this news release, other than statements of historical fact that address events or developments which Delta Gold or Commonwealth Silver expect to occur, constitute “forward-looking information”. These statements relate to future events or future performance and reflect Commonwealth Silver’s and Delta Gold’s current expectations regarding the Transaction, the Financing, the Consolidation, the acquisition of the Property Rights, and the future growth, results of operations, business prospects and opportunities of the Resulting Issuer. Forward-looking information reflects Commonwealth Silver’s and Delta Gold’s current internal projections, expectations or beliefs and is based on information currently available to Commonwealth Silver and Delta Gold, respectively. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based include, among others, that Delta Gold and Commonwealth Silver will be able to satisfy the conditions to closing contained in the Agreement, that the Financing will be completed on terms favourable to Commonwealth Silver and Delta Gold, that the required approvals to the Transaction and matters relating thereto will be obtained from the shareholders of each of Delta Gold and Commonwealth Silver, that all required regulatory and court approvals will be obtained on a timely basis and on terms favourable to each of Delta Gold and Commonwealth Silver, that Commonwealth Silver will be able to satisfy the conditions to closing contained in the Purchase Agreement, and that the business prospects and opportunities of the Resulting Issuer will be as anticipated. Many of these assumptions are based on factors and events that are not within the control of Delta Gold, Commonwealth Silver or the Resulting Issuer, and there is no assurance they will prove to be correct or accurate.

Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the speculative nature of the mineral exploration and development industry; an inability to obtain any of the approvals required to complete the Transaction; volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in international currency markets and in the rates of exchange for the currencies of Canada and the United States; price volatility in the spot and forward markets for commodities generally and for silver and gold in particular; discrepancies between actual and estimated production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments in the countries in which the Resulting Issuer will or may carry on business; competition in the mineral exploration and development industry; loss of key personnel; changes in project parameters as plans continue to be refined; labour disputes; and defective title to mineral claims or property, or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks), as well as the risks disclosed under the heading “Risks and Uncertainties” in the most recent management discussion and analysis for Delta Gold available under its SEDAR profile at www.sedar.com. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in any such forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Commonwealth Silver and Delta Gold believe that the forward-looking information contained herein is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on any of the forward-looking information contained herein. Each of Delta Gold and Commonwealth Silver expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Delta Gold Corporation
Marco A. Romero
President & CEO
604.681.2020 ext. 101
info@deltagold.com
http://www.deltagold.com

Commonwealth Silver and Gold Mining Inc.
Michael H. Farrant
President & CEO
416.278.4149
mfarrant@commonwealthsilver.ca
http://www.commonwealthsilver.ca

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Due to the fact that CommonwealthMine.org has been playing cat and mouse with Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. to collect information on what’s really happening in Pearce, Arizona it is likely that this press release will be removed from the internet once it has been found that we were able to access it. With that said, below are screenshots of the press release for record in case it is later taken off the web.

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Source: http://www.canadianminingjournal.com/press-releases/story.aspx?id=1003100813&er=NA

Delta Gold Corporation Announces Q2 2014 Financial Results – Commonwealth Mine Pearce, Arizona

VANCOUVER, BRITISH COLUMBIA, May 26, 2014 (Marketwired via COMTEX) — Delta Gold Corporation (the “Company” or “Delta”) CA:DLT -20.00% reports that it has filed on SEDAR ( www.sedar.com ) its unaudited condensed interim consolidated financial statements and related management discussion and analysis (“MD&A”) for three and six months ended March 31, 2014.

The Company reported a loss and comprehensive loss for the three and six months ended March 31, 2014 of $2,980,188 and $3,321,042 respectively compared with $1,025,775 and $2,045,332 in the three and six months ended March 31, 2013.

The activities in the Current Period focused on business development investigations and the recently announced transaction with Commonwealth Silver and Gold Inc. (“CSGM”), while the Comparative Period focused on the closing of the ADR Capital Corp. transaction and the related equity financings… Read More

Commonwealth Mine: Will it move forward?

PEARCE, ARIZONA – In 2011, Toronto-based exploratory mining company Commonwealth Minerals (focused on exploring and developing properties in Arizona) began re-exploring the old Pearce Commonwealth mine. The mine, according to Commonwealth exploration Vice President Hall Stewart, was Arizona’s second-largest historical producer of gold and silver with a heyday as an underground mine between 1895 and 1926.

Commonwealth, like earlier exploration companies in the 1990s, seeks to determine the potential of the property to be a proven resource;  the company proposes a 100 meter deep open-pit cyanide-leach silver-gold operation.

The mine would be located right on the Pearce-Gleeson-Courtland Road and “everything eastward would be part. Pearce Hill would be moved eastward. The old collapsed stopes now honeycombing the entire hill would be mined and waste rock would be moved east with a leach pad south of the hill. We do not intend to put waste back into the pit. Ore would be crushed, stacked on the leach pad and leached with cyanide and then the solution would be pumped through a precipitation plant. After that the metal would go to a small “Dore” silver-gold refinery on site,” said Stewart. “The mine will not produce any tailings, as tailings are the residue from milling and we do not currently plan to construct a mill.”

All mining would be done on either patented/private land or on state leases. The company has 133 un-patented BLM and Homestead Act lode claims but Stewart said that no mining was planned for these claims, rather they would serve as a buffer. The mining of federal un-patented claims would require the Federal National Environmental Protection Act (NEPA) to be implemented, as it has at the Rosemont mine, and would call for a comprehensive environmental analysis, generally an Environmental Impact Statement. Currently Commonwealth is exploring on some claims but has no stated intent to mine. However as it stands, the mine would need to comply with the Endangered Species Act, any discharge permits, and other Federal environmental laws, as well as all Arizona state permits. Stewart believes the process is advancing to the point where they can soon begin an application to Arizona Department of Environmental Quality (ADEQ) for an Aquifer Protection Permit (APP) that would ultimately allow them to pump 3,000 gallons per minute of water for eight and a half years and hopefully more. The process plant will circulate 3.000 gallons per minute, but groundwater pumping will only be 15 to 20 percent of this volume to make up for the water lost to evaporation (450 to 600 gallons per minute).
The current plan will consume a total of between 750 and 970
acre-feet per year. This is about the same consumption as 200 acres
of alfalfa, Stewart said.

“Roughly 50% of that water would get recycled,” said Stewart.

The APP would prohibit groundwater pollution from leaving the site; a large challenge for Arizona mines thus far.

The water consumption is slightly more than a 2012 estimate for the AEPCO power plant; the city of Willcox pumped 987 acre feet in 2007 and the state estimated 167,400 acre feet for the Willcox basin in 2008. Hydrological studies have not yet been completed that would indicate what groundwater depletion or water quality impacts could be on the water table or whether the mine would likely leave behind a pit lake.

Stewart added that, from looking at well logs and from climbing down into the old underground workings of the mine, that, “I’m estimating that the water table in this region has dropped about 100 feet in the last 100 years. The water level within the mine has dropped substantially below the area worked in the past, rather than rising after pumping out of the stopes was halted.”

“From meetings we held in Pearce during 2011 and 2012, I know that people are worried about water consumption issues around here, especially farmers and ranchers, but the current problems in groundwater decline wasn’t a result of mining but agriculture. The bad metals market meant that we had very little money to work with during 2013 and did almost nothing,” Stewart said.

Local property owner Lynn Haber, who describes herself as having lived “on and off in Pearce since 1997,” talked about her observations over the years.

“I have watched the water tables decline. I spent many days horseback riding up in the Cochise Stronghold. I have witnessed the Stronghold tanks going dry and not refilling. The Cochise Spring has gone dry for good. I have watched the huge oak trees wither and die over time because their roots can no longer reach the deepening water table.”

“The many farm fields in our valley have sucked much of the life from our land already. The Commonwealth Mine will destroy our town,” she told the Range News.

“I cannot fathom how they will use 3,000 gallons of water per minute. That’s an entire swimming pool every minute! Where are they getting that from?”

Haber went on to say, “Do they know we are in the desert? I believe they do not care about our town and this valley’s water supply. They will take their silver and gold, deplete our water supply, pollute our land with their toxic processing chemicals and then pack up and leave.”

At this time, Commonwealth is not yet able to present a picture of current water quality in the area surrounding the mine nor establish whether the older underground workings polluted groundwater. They will be completing a hydro-geological study in order to do so.

Stewart said, “Right now we have well records to measure quantity, but as we begin discussions with ADEQ we will need to measure water quality (to determine baseline before the mine begins operation.)

“We are hoping that because we have one well at Pearce School that has been monitored for water quality for a long time that we can gather water quality data for only 4-6 quarters instead of the 8 quarters that ADEQ normally requires from an APP applicant. The water quality at the school is normally potable but it has exceeded the drinking water standard for arsenic. How we can address the issue of the school being so close to the mine is a concern. The school well is slightly ‘up-gradient’ of the mine site although frankly I think that the lens of water lying below Pearce is pretty level”

Stewart estimated that the mine would process about 36 million tons of ore in the above mentioned period and produce about the same amount of waste (tailings from the leach pad and overburden). Company figures have estimated that boreholes to date had measured 6.36 million metal ounces of silver with another 25.95 million “indicated” silver, and 74,800 measured ounces of gold plus 314, 500 “indicated” ounces.

He went on, “These figures can be used in Canadian reports but are not acceptable in the U.S. However we have a new technical report, a prefeasibility study that will be released soon that we think will establish that these resources we’ve discussed are actually reserves.”

Stewart added that the company would “be providing 100 long-term good-paying jobs and that our preference is to hire local.

Sunsites-Pearce Fire District Administrator Tom Schelling said there would be a positive impact on the District if the mine does begin full operations.

“The increased value of the mine would increase the assessed property value of the entire fire district and increase tax revenue from the mine property into the district. Added jobs would bring additional homes sales in the area, which again would help to increase the assessed property value of the district,” he told the Range News.  What?  Increase assessed property….at what cost?  Human lives?

“With current property values on the decline these last few years, seeing them increase would help to keep future tax rates down while allowing the district to maintain its high level of service to the community,” Schelling said.

Murray McClelland, president of the Pearce-Sunsites Chamber of Commerce, said, “As far as the town of Sunsites and what an operating/profitable mining concern would do for us economically is beyond our wildest dreams.”

“Sunsites population has been in a steady decline for the last few years. So in reality, if Commonwealth and/or future partners eventually start the mine up, Sunsites could easily see its population double,” he told the Range News.

“We do not have enough rental housing, products and services to support a massive increase in our population. The balancing act that real estate investors are currently doing is attempting to look into our crystal balls and determine how much risk we’re willing to take and when,” McClelland said.

“If we wait too long however, I’m afraid the wave could roll right on past us, to a certain extent, if we’re not prepared to act as soon as the mine operation looks like a real deal. Stay tuned….”

For her part, however, Haber is not so sure about these economic benefits. Pointing out that Commonwealth Minerals is a Canadian corporation, she said, “It only cares about making money. I do not believe it will bring in jobs. I believe they will bring in their own qualified staff.”

She noted that in the company’s technical data report “shows on their included map that the nearest town is Willcox. It does not even show us – Pearce – on the map. It pretends we do not exist.”

“It states in the report that the surrounding valley is ‘barren’ and is ‘low in plant diversity,’ implying that the mine’s destruction would make no difference here. Have they not seen our beautiful (Cochise) Stronghold? Have they not seen our fields of spring poppies and large diversity of trees, shrubs and cacti?,” Haber said.

“I believe they will damage this area until it is, as they say – ‘barren.’”

Article Source:
http://www.willcoxrangenews.com/news/article_82599ba6-cfe6-11e3-ac63-001a4bcf887a.html