The recent Ajax Mine forum at TRU resulted in some interesting new information. Suddenly out of thin air, 180 new jobs developed at the proposed mine.
Mr. Norm Thompson, whom I applaud for having the courage to attend the forum, stated the mine would now employ 565 direct employees, an increase of 180 from the feasibility study released in December of 2012.
This little bit of magic will cost the mine an additional $414 million. If you add the additional cost of electrical power above the 3.5 cents per kWh to 4.6 cents, a 31.4 per cent increase from the feasibility study, this project is undergoing a massive increase in its operating costs.
An attendee of the forum asked Thompson if Ajax is planning to redo the feasibility study and he merely shrugged his shoulders.
I believe that KGHM’s bankers would be interested to see his reaction.
Let’s just call this increase of 180 phantom jobs what it really is. It is just another PR ploy by Ajax to ramp up public support for the project, support that is dropping by the hour.