Polaris Minerals targeted for a takeover

"Most of the majors, including ourselves, are waiting to see when do you pick it off. People are positioning themselves to take it out when the stock price goes low enough." - Ray Collier, Lehigh Hanson Co.

Polaris Minerals Corporation, a sand and gravel operation near Port McNeil, is facing a likely takeover, according to this National Post report. The 'Namgis First Nation is a minority-holder (12%) in the company's Orca Quarry. Whereas, the company's undeveloped Eagle Rock Quarry near Port Alberni is minority-owned by the Hupacasath (10%) and Ucluelet (10%) First Nations, with a further 10% held in trust for the Tseshaht First Nation.

Map: In this outdated image, the location of the Orca property is southeast and adjacent to the Klickseewy Indian Reserve 7, between the creek and Highway 19.


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