Wish I could quote the whole thing for those that can't get through the ADN paywall, but here's the first graf:
I was managing environmental affairs at Cominco (now Teck) when I discovered Cominco owned Pebble. I was informed, upon inquiry, that Pebble was at best marginally economic because of low grade and other factors, and physically challenging because of water management. A no-go, so forget about it. Later, in 2002, I learned a shell company called Northern Dynasty (ND) had acquired Pebble so I checked out their parent company, Hunter Dickinson, a Vancouver "junior" mining company which was, according to their web page, not in the business of planning or building mines. Rather, they were in the business of discovering ore bodies and bringing them along to the "permitting stage" before selling them, none of which had ever resulted in a producing mine. This is a business model called "pump and dump" for which the Vancouver stock scene is infamous and once named by Forbes as the "scam capital of the world." Shortly after acquisition of Pebble, Northern Dynasty "discovers" a huge copper/gold mine that Cominco had missed, notwithstanding that Cominco was the most experienced northern miner in the world. Classic pump and dump. I forgot it again.
by Bruce Switzer
He goes on to explain how Pebble absolutely needs huge state subsidies to supply the energy needed for the mine, and the port that would be needed as well. And explains yet again why they have never come out with a mine plan. The only reason I can see that Pebble is now suing the EPA is cuz they hope they can lure another outfit in to pump more money to their people ... keeping up this whole charade for as long as possible. It's time it's put to bed.
Read more here: http://www.adn.com/2014/05/22/348203...#storylink=cpy