Dallas, Texas 07/15/2015 (Financialstrend) – Pacific Booker Minerals Inc Ordinary Shares (NYSEMKT:PBM) reports that it has consulted with professional advisers about the concerns raised by the British Columbia ministry of mines. There are concerns over potential environmental effects should the Morrison mine be allowed to operate as an open pit operation.
Initial environmental assessment had indicated that successful implementation of mitigation measures will not in any way result in adverse environmental effects. However, Environment Minister Mary Polak and her counterpart at the Ministry of Energy have consistently raised concerns about the mine’s design as well as mitigation measures.
The two continue to question whether there are other design alternatives as well as mitigation measures that can support the highest level of confidence about the entire project.
Pacific Booker Minerals Inc Ordinary Shares (NYSEMKT:PBM) has already reiterated its commitment to constructing and operating the Morison Mine with the highest level of compliance on set out industry practices. The use of proven technology, as well as remaining compliant with all the permit requirements, should come into effect according to the company’s statement.
Investigations over Fiduciary Violation
The ministers had asked Pacific Booker to undertake several studies within three years while engaging in talks with Lake Babine Nation as well as other first nations. To get their perspectives and thoughts about the mine. Pacific Booker Minerals Inc Ordinary Shares (NYSEMKT:PBM) on its part maintains that most of the concerns raised had already been answered prior to the applying of permits after the awarding of the environmental assessment certificate.
Separately a securities law firm Faruqi & Faruqi has already kick started investigations as to whether Pacific Booker Minerals Inc Ordinary Shares (NYSEMKT:PBM) violated certain fiduciary obligations. Investigations will look into whether the company executives failed to disclose the level of environmental compliance for current projects more so the Morison copper-gold mine.
The investigations according to the securities law firm were prompted by the Minister of Energy and Mines questioned the environmental friendliness of the purported design of the mine.