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July 31, 2023
January 10, 2024
Last Updated – July 31, 2023
Doubleview Gold First Nation Opposition?
In-Depth Analysis of the First Nation
Opposition Since 2015
Every mining jurisdiction is different and comes with its own risks. Mineral exploration on First Nation Territory entails additional risks which don’t exist on government owned land. When complex issues arise it’s important to understand the situation as much as possible.
The Doubleview Gold First Nation opposition is primarily due to its location. The project lies in an area which is claimed by 2 neighboring First Nations and there’s a lot at stake in terms of economic benefits if the project becomes a mine. It is important to fully understand the situation and what’s at stake for both Nations if Doubleview Gold is successful in advancing the project to production. The issue is very complex, unique and is a delicate one for the BC government.
Tahltan First Nation Territory (Mining)
The Talhtan First Nation is a very mining friendly Nation and knows first hand about the economic benefits mining can provide.
“As a Nation, we hold Aboriginal title and rights throughout Tahltan Territory, one of the most mineral-rich regions of the province. While we do not oppose all mining activity, as with this activity comes opportunity, it is important that we consider all the positive, negative, and potential impacts associated with industrial activities. We must ensure these are carried out in accordance with Tahltan laws and policies. The TCG’s engagement framework applies to mineral exploration companies and allows us to facilitate meaningful communications and engagement between those operating in our territory, our communities, and people.” – Message from the President – Chad Norman Day – 2023 TCG Industry Review
“Tahltan Territory is 95,933 km² or the equivalent of 11% of British Columbia. If the Tahltan Nation were its own country, we would be bigger than Portugal and slightly smaller than South Korea. The territory is rich in natural resources and continues to garner international attention for its mineral potential and abundant wildlife.”
“Tahltan Territory is in the Golden Triangle, a region of enormous mineral wealth. Mining is part of our culture. For thousands of years, we prospected and mined obsidian. We turned the obsidian into essential tools and an important trading resource. Obsidian artifacts have been found thousands of kilometers away, hinting at the immense trade network and its high value. In the late 1800’s, Tahltan supported miners during the gold rush. We are a sophisticated mining Nation, now with generations of experience in the modern industry.”
“The investment community was understandably cautious about investing in B.C. following the recent changes in provincial politics and the ongoing uncertainty with the implementation of UNDRIP,” said Chad Day, president of the Tahltan Central Government.
“However, the Tahltan Central Government has showcased several times in recent years that when all parties work through Tahltan processes and ensure our people have thorough oversight over the environment and are guaranteed significant benefits from economic development, there are clear paths to success for everyone.” – Chad Day Mining Conference April 24 & 25 2018
It is important for First Nations to ensure companies that operate in its territory understand and respect them as owners of the land. It’s also important for them to remind companies of it.
“We will strongly oppose those who fail to operate according to our protocols and take all necessary steps to bring an end to these companies’ activities. With the Province of British Columbia’s passing of the Declaration on the Rights of Indigenous Peoples Act (DRIPA), we expect the Province to respect our authority and decision-making ability when it comes to activities in Tahltan Territory. The TCG remains guided by the 1910 Declaration of the Tahltan Tribe which affirmed our position long before BC adopted DRIPA.” – Message from the President – Chad Norman Day – 2023 TCG Industry Review
TCG Responds to Recent Moves Regarding Lands Near the Community of Iskut by Newmont Gold, Skeena Resources and QuestEx Gold & Copper – April 2022
“While the Tahltan Central Government recognizes the steps taken by Newmont regarding lands within Tahltan Territory near the community of Iskut may create additional benefits and environmental protections, it does not explicitly endorse these transactions. The Tahltan Central Government celebrates the progress and opportunity these steps create – while strongly asserting that there is much work left to do. The journey is far from over.”
First Nations all have tremendous respect for the land and want to ensure it continues to contribute to its way of life indefinitely.
For a long time, the TCG discussed intentions of protecting the following areas: Sacred Headwaters, Ice Mountain & Sheslay.
Sacred Headwaters – 2013 – the battle to protect this area from a coal company required blockades and resulted in many arrests.
“Ms. McPhee says the Tahltan oppose the development in an area known as the Sacred Headwaters, the source of three major salmon-bearing rivers: the Skeena, Stikine and the Nass.
The area is considered by aboriginals to have extreme cultural value.”
“The region supports three major salmon-bearing rivers – the Skeena, Nass and Stikine, and its preservation is fundamental to our hunting, fishing and cultural practices that have gone on for thousands of years.”
“Our community will be severely impacted as this area is where our cultural activities take place. This project will destroy a way of life for our people if it goes ahead and we have said as a community that it’s never going to happen, we will do anything we have to in order to stop this development!” said Iskut Band Chief, Marie Quock.”
“In September the Tahltan Central Council issued a press release stating, “We want to make it clear that the Klappan area is one of the most sacred and important areas for the Tahltan people. It is a place of tremendous cultural, spiritual, and social importance. It is not an area that the Tahltan people have expressed interest to see developed.”
“Fortune’s mine plan is controversial because Mount Klappan sits at the centre of the Sacred Headwaters, where three of North America’s most valuable wild salmon rivers – the Skeena, Stikine and Nass – all originate. Tahltan families have long relied on the area’s moose, caribou, and wild salmon for sustenance.”
In response to the opposition, the coal company announced in September 2013 that it “welcomes the September 17, 2013 statement from the British Columbia (“BC”) Government that it supports the legal right of companies to safely perform permitted work…”
“The B.C. government is paying $18.3 million to buy out 61 coal mining licences in the Klappan region of northwestern B.C., to work with the Tahltan Nation on a management plan. The government is calling the move a “permit deferral,” including a 10-year option for Fortune Minerals and Korea-based POSCO Canada to buy back the permits at the same price once an agreement on mining development is reached with the Tahltan.”
“This is a good outcome for Fortune Minerals in the context of the current market” commented Robin Goad, President and CEO of the Company. “Fortune and POSCAN invested significant funds and effort to try to resolve the complex First Nations issues associated with the proposed development of the Arctos Project. Mining is a cyclical industry, and considering the weak metallurgical coal prices at the present time, it was considered prudent to step back from Arctos and focus our efforts on our near-term production assets. The back-in option allows for the repurchase the coal licenses should conditions improve and make development an attractive path forward for the joint venture.”
In August 2019, The Klappan Plan was signed between the Tahltan First Nation and the BC government. The disputed Scared Headwaters area was divided into protected (up to 20 years) and economic development areas. Since the area where the project lies is now open for development, the coal company that was kicked out has exclusive rights to buy back the project’s license before the 10 year option expires. Although the project is mentioned as a potential opportunity on the company’s website, it has not yet repurchased the license.
Ice Mountain (formerly known as Mount Edziza) – February 2022 – no blockades or opposition were required to protect the area.
“An agreement was reached by the parties, enabling the return of mineral claims, striking a balance between preserving important land and enabling the Tahltan to benefit from responsible development in their territory. The Skeena partnership is another step by the Tahltan Nation in becoming meaningful equity partners in the mineral exploration industry.”
In order for the protected area to occur, Skeena Resources gave back some mineral claims which weren’t important areas of their project and kept the important ones that had the deposit. Eight days prior to the announcement of the land protection plan, “Skeena Resources welcomed a $5 million investment from the Tahltans.”
Sheslay– The only remaining area which hasn’t been protected yet by the Tahltan First Nation is the Sheslay. The Taku River Tlingit First Nation created protected areas in the region in the 2011 Land Use Agreement with the BC Government and also unilaterally in the 2023 T’aku Tlatsini Indigenous Protected and Conserved Area.
All the areas the Tahltan First Nation protected it strategically left out some high mineral potential areas. The Tahltan First Nation wants to protect the land while leaving the door open to potential economic benefits as well. If the trend continues and if the Sheslay follows the same path as the 2 other areas, I believe some portions of it will be protected and one of North America’s largest critical minerals deposit will be in a resource development management zone.
The main issue is there are 2 First Nations that say the land which Doubleview Gold operates on belongs to them so it’s a very complex and delicate issue for the BC government.
If a large area of the Sheslay wasn’t claimed by 2 First Nations and it belonged to the Tahltan First Nation, it probably would have already been divided up like Ice Mountain and Sacred Headwaters was into protected and economic development areas.
Tahltan First Nation – Consolidated Shared Prosperity Agreement
In June 2021, the BC government and the Tahltan Nation began discussion on shared decision-making
“It is intended to support ongoing work to collaboratively achieve long-term comprehensive reconciliation and land-use predictability in Tahltan Territory.”
“Land use predictability” basically means a land use plan
This agreement was announced about 2 months after the Tahltan First Nation evicted Doubleview Gold out of its territory and about 1 month prior to the communication agreement being signed between the TCG and Doubleview Gold.
According to the Consolidated Shared Prosperity Agreement, the BC government and the Tahltan First Nation had a deadline (30 June, 2021) to have an agreement on potential mineral development in the Sheslay area. After the 30 June 2021 deadline, the parties succeeded in an agreement on Mount Edziza (renamed Ice Mountain) which put Skeena Resources’ deposit in the mineral development zone. Before the deadline, the parties succeeded in an agreement on jade and placer mining. To this date, negotiations between the BC government and the Tahltan First Nation have not yet been successful in creating a protected area in the Sheslay.
Jade and Placer mining banned June 2021 – it is important to note that these provided minimal benefits to the Tahltan First Nations and the BC government
“Chad Norman Day, President of the TCG said, The jade and placer industry in its current form has no place in Tahltan Territory or British Columbia. The ongoing degradation of our wildlife, fisheries, and wilderness in exchange for minimal benefits flowing back to the Province or the Tahltan Nation is illegal, disrespectful, and shameful on so many levels, to both Tahltans and British Columbians. The Tahltan Nation has been pushing BC to deal with this highly unregulated and unethical industry for years and they have failed to address the concerns in a timely fashion. We as Tahltans will begin shutting down more activities and may stop supporting industrial projects until our title and rights and the environment are properly respected and protected.”
The Sheslay Valley is a large area which hosts 2 neighboring First Nations. A portion of the Sheslay is claimed by both the Tahltan and Taku River Tlingit First Nations.
The 2011 Atlin Taku Land Use Plan mentions the Tahltan First Nation asserts claim to the lower 1/3 of the southern area of the plan.
Doubleview Gold’s project lies next to the border of the Land Use Plan and consequently, it’s in the area being claimed by both First Nations.
Since the Taku River Tlingit First Nation has a Land Use Plan with the BC Government it is said that it would receive the economic benefits of Doubleview Gold’s project if it were to become a mine.
Although the Tahltan First Nation also asserts the area as its territory, it doesn’t have a land use plan with the BC government so it is said that it wouldn’t receive the potential economic benefits if Doubleview Gold’s project becomes a mine. Although Doubleview Gold is not the only project that lies in the overlapping Sheslay area which is part of the Taku River’s Land Use Plan, it’s project is the only one that has discovered something significant.
Due to the issue of 2 First Nations asserting a portion of the Sheslay as its territory and the Taku River Tlinglit already having a Land Use Agreement with the BC government which deems Doubleview Gold’s project is in a resource development zone, it is no surprise that the deadline expired on the Sheslay negotiations between the TCG and the BC government.
First Nations that have mines on its territory sign Impact Benefit Agreements (IBAs), which lay out economic, employment, procurement and other benefits for their communities. IBAs “lock-in” the economic benefits for their communities. The Tahltan First Nation currently has 3 IBAs and I believe the Taku River Tlingit First Nation doesn’t have any yet. IBAs are usually signed in the later development stages of a deposit.
Taku River First Nation Atlin Taku Land Use Plan
After 8 years of negotiations, the Atlin Taku Land Use Plan was signed in 2011.
“The Land and Resource Management and Shared Decision-Making Agreement is the first of its kind in British Columbia. It gives formal effect to the Atlin Taku Land Use Plan and establishes Government-to-Government (G2G) decision-making structures and processes, to guide future land and resource management, engaging the community of Atlin and a cross-section of environmental and industry stakeholders. The agreement was developed collaboratively by the Taku River Tlingit First Nation and B.C.”
“The Land Use Plan resolves long-standing access, protection, and mineral development issues in the Taku watershed, and provides clarity with respect to the values and objectives to be considered in resource management decision-making. Prohibiting commercial forestry in a large proportion of the plan area conserves critical caribou habitat. Salmon habitat conservation measures in the Taku watershed support its continued role as a salmon stronghold for both B.C. and Alaska.”
“While the most sensitive areas critical to the Taku River Tlingit culture have been protected, a significant portion of the planning area is open for potential resource development”
“The Taku River Tlingit have already begun to work co-operatively with mining developers in the area on potential resource development projects. It’s expected that future resource extraction projects could support 350 jobs during construction and 280 operations jobs.”
The Land Use Plan occurred after the Taku River Tlingit First Nation protested a project.
Tlinglit enlist high-power help to protest – February 2005
“The Taku River Tlingit First Nation is demanding Ottawa rescind its approval of the Tulsequah Chief Mine project just south of the Yukon border in B.C.”
“From 2000 to 2004, the Taku River Tlingit and B.C. were involved in litigation at the Supreme Court of Canada. The completion of the Land Use Plan and G2G Agreement represent a clear shift toward greater collaboration between the First Nation and B.C.”
In 2004, the BC government was ordered by the Supreme Court of Canada to consult with the the Taku River Tlingit First Nation about the Tulsequah Chief Mine
It is important to note that many Land Use Plans/Agreements occurred after First Nations opposed a project on its territory. The follow-on agreements provide guidance on land use to avoid future issues.
Source: Atlin Taku Land Use Plan
Doubleview Gold’s project is in the “area – specific resource management zone” of the Land Use Plan. The red circle below is approximately where the Lisle Zone is which is the focus of the maiden resource estimate.
Below is Doubleview Gold’s slide showing where the deposit lies (right above the lake to the left of Kennicott Lake).
Although the Tahltan’s chose to not participate in the negotiations of the Land Use Plan, they were informed about the process.
The lake next to Doubleview Gold’s project is an area which is protected and is culturally sensitive. It is also the location where the Tahltan and the Taku River Tlingit fought each other in battle.
Worse Case Scenario – Expropriation
As part of the due diligence process, understanding all possible scenarios are crucial including the worse case scenario. If properly researched, worse case scenarios help understand the risk and potential downside.
In the province of BC, the Mineral Tenure Act – Mining Rights Compensation Regulation provides a kind of safety net and some certainty for mining companies in case expropriation occurs (loss of the project).
“The value of an expropriated mineral title must be determined by estimating the value that would have been paid to the holder of the expropriated mineral title if the title had been sold on the date of expropriation, in an open and unrestricted market between informed and prudent parties acting at arm’s length.”
Example of the BC Government Buying Back a Mining Claim
“In 2008, the Province announced that it would not support uranium exploration and development, and prohibited related permits being issued to any company in 2009. At that time, Boss Power Corp. held a pre-existing claim to uranium deposits in that area.”
“The negotiated settlement gives the Crown the mineral rights to the Blizzard uranium deposit. The Province will pay Boss Power Corp. $30 million, plus legal costs, to compensate for the economic value of the uranium deposit.”
“While late in the proceedings, we appreciate the provincial government’s clear signal and commitment to follow well established permitting laws and to take into account fair market value when mineral explorers become prohibited from working on their mineral tenure and reasonable compensation is therefore required,” said Gavin C. Dirom, President & CEO of AME (Association for Mineral Exploration) BC
“This is a fair and equitable settlement for the shareholders of Boss Power Corp. for an expropriation that took place over three years ago,” stated Randy Rogers, President & CEO, Boss Power Corp. “Mineral exploration needs more than viable geological targets; for the industry to thrive in any given jurisdiction we need political stability and security of tenure. British Columbia has a chance now to move forward and demonstrate to the world that this is a politically stable place to invest and that mineral tenure rights will be respected in the future.”
Using the Discounted Cash Flow / Net Present Value method of valuation, it resulted in substantially negative values. Although at that time the project was deemed uneconomic, the report assumes that someone that speculates future uranium prices being higher would purchase it.
Although the highest valuation was C$5.6M (2008) and C$3.5M (2009) for an uneconomic project, the BC government eventually paid C$30 million for the claims which is multiples higher than the highest calculated valuation.
Fair Market Value of the Hat Project
Doubleview Gold’s Hat project has assay results containing several hundreds of metres of almost 1% Copper Equivalent, a deposit with a drilled dimension of approximately 2.7 km by 1.7 km (still being delimited laterally and at depth), metallurgical tests (many still pending), a unique scandium extraction process which is said to be very cost effective and only requires limited additional costs (scandium extraction is very costly), a scandium deposit which the CEO says could possibly be the largest in the world, ore sorting study (pending), maiden resource (pending), a 3D-IP target tonnage of 4 billion tons which gives it one of the largest IP foot prints in North America, aggressive drill campaign underway, etc, etc.
It is very hard to predict what fair market value will be once all the pending catalysts are released.
In my opinion, the fair market value is substantially higher than the current market cap which means there is a lot of upside potential if the worse case scenario occurs.
A Twitter poster which is said to be a former Chief Investment Officer/Portfolio Manager of $1+ billion fund said the following on the DBG Shareholder’s Telegram chat:
“if BC bureaucrats never solve this issue then BC must buy the concession back from DBG at fair market value. After the resource estimate is published, it will be clear the fair market value is very high nine figures or even ten figures IMO”
Based on my research, all the examples of expropriated claims that had to be bought back by the BC Government didn’t have very high fair market values.
Since the BC government most likely can’t afford to pay fair market value of Doubleview Gold’s project, it is very likely that the only option is to fix the issue so Doubleview Gold can advance the project with no further issues.
Hudbay Minerals JV
Prior to Hudbay Minerals signing a Joint Venture on Doubleview Gold’s Hat project, it would have consulted the Tahltan Nation about the 2015 blockade. In the end, Hudbay Minerals signed the JV in 2018 indicating it wasn’t overly concerned about the Tahltan blockade. During the JV, Hudbay had the expensive 3D-IP performed which revealed the project had one of the largest 3D-IP footprints in North America. Doubleview Gold strategically terminated the JV with Hudbay thus retaining 100% interest in the project.
“On July 5th 2018 Hudbay informed the Tahltan Central Government about this transaction, providing an outline of the planned activities. Through ongoing discussion with the Tahltan Central Government we signed a Communication Agreement in October 2018.”
Since Doubleview Gold’s project lies in an area which both the Tahltan and the Taku RIver Tlingit assert as their territory, the BC Government consults with BOTH First Nations on permits.
Prior to the approval of a new drill permit, Doubleview Gold must do an independent archeological study. After many archeological studies, only an obsidian artifact was found under it’s camp in 2014.
“Doubleview also announces that a third archaeological review of the Hat property that included shovel tests and other procedures has been completed without finding any areas of archaeological interest.”
Doubleview receives Hat Gold Copper Porphyry enhanced Permit – August 2016
“The permit application was also reviewed by the Tahltan and Taku River-Tlingit First Nations within whose asserted traditional territory lies. Since acquiring the Hat property Doubleview has worked closely with these First Nations in matters such as opportunities in employment, contracting, and provision of supplies and logistics. Importantly studies commissioned by Doubleview show no strategic archaeological sites within Doubleview’s permitted area. All drilling operations to date have been conducted by a First Nations company and personnel and the Company is committed to maintaining and expanding that mutually beneficial relationship.“
Camp upgrades require permits and the BC government consults with BOTH First Nations. In August 2016, Doubleview Gold received an enhanced permit and completed camp expansion about 2 months later.
“A carpentry crew in recent weeks has upgraded and rebuilt bunkhouse and cookhouse buildings to enable work to continue on a year-round basis. Original canvas tent structures have been replaced by insulated plywood-sheeted buildings capable of withstanding winter conditions.”
Although the area is asserted by both First Nations, the project is conveniently closer to Tahlan First Nation services.
Camp & Logistics
Doubleview Gold Corp (“Doubleview”, the “Company”) (TSX.V: DBG) (OTCQB: DBLVF) (FRANKFURT: 1D4) is pleased to announce the commencement of its 2022 exploration season at the HAT Property in northwest British Columbia and the engagement of Obsidian Camps and Logistics Services Inc. (Obsidian), a registered Tahltan Business, to provide camp and logistics services in support of its 2022 exploration program.
Obsidian personnel have mobilized to the HAT Property providing equipment, expediting, logistics services and additional supplies as needed to support the Company’s 2022 exploration program. Obsidian personnel currently onsite include a camp manager, pad builders, cook, first aid and general labourers.
Mr. Allen Edzerza, Obsidian President stated “We are happy to support Doubleview’s exploration program by providing camp and logistic services. Our goal is to provide a high-quality service and to provide employment opportunities for our People. This is the second operating season for Obsidian and I appreciate the opportunity to continue to grow as a company.”
Doubleview Gold hired the drilling company from the Tahltan Development Nation Corp’s drilling company. The TDNC is the business arm of the Tahltan Nation. In 2015, the drilling company that was doing the work when the blockade happened was the Tahltan drilling company. The Tahltan drill company was told to immediately stop drilling.
Tahltan First Nation Contribution
Throughout the 8 years of First Nation opposition (oppositions in 2015, 2021 & 2023), the First Nation’s business arm (TDNC) has provided the company with drilling services and camp logistics/services. The Tahltan First Nation has participated in Doubleview Gold’s success and has played an instrumental part in advancing the project.
Indigenous Ownership Model
Although First Nations receive benefits from IBAs, the ownership model provides additional benefits which weren’t being capitalized on in the past. With the green energy transition underway which will create unprecedented demand for critical metals, the investment opportunity for life changing returns has never been more predictable and attainable for the common retail investor.
The indigenous ownership model allows First Nations to capitalize on the tremendous upside when successful projects go from discovery to production. It can also provide additional benefits such as dividends. Although First Nations have a voice on what happens on its territory, ownership gives it an additional voice as shareholders and includes voting power on company related business.
Although the odds of an ore body becoming something of value is said to be 1 in 3000, I believe First Nations should capitalize on the potential of certain promising projects especially with the green energy transition increasing the odds of success.
I believe the indigenous ownership model is something First Nations should adopt before the commodities supercycle and the green energy transition gain momentum. I also believe the model will increasingly become more common.
In March 2021, the Tahltan took a C$5 million stake in Skeena Resources. The sooner a First Nation takes a stake in a company, the more upside potential exits if the company is successful.
If the Tahtans had invested in Imperial Metals well before Red Chris became BC’s biggest mine and one of Canada’s richest deposits it would have resulted in significant returns.
Doubleview Gold First Nation Opposition Timeline of Relevant Events
July 2011 – Wόoshtin wudidaa Atlin Taku Land Use Plan – “strategic land use plan for the Atlin Taku developed through a collaborative, government-to-government process involving the Province of British Columbia (BC) and the Taku River Tlingit First Nation (TRTFN). The agreement protects areas while leaving 90% of the areas with the highest mineral potential remain available for exploration and potential development”
May 2014 – Doubleview Gold’s assay results create a staking frenzy in the Sheslay
Doubleview Capital Corp. announces 451m with 0.33% CuEq in hole H11, and 246m with 0.35% CuEq including 94m with 0.60% CuEq in hole H12 at Hat Property
March 2021 – Tahltan statement saying it opposes Doubleview Gold’s operations
“We will be taking all actions necessary to protect our land and resources, including keeping Doubleview from pursuing their interests in our Territory any further”
“This should serve as notice that the Tahltan Nation will not tolerate any company that attempts to operate within Tahltan Territory if they fail to build a respectful relationship with the Tahltan governments and communities through respecting Tahltan laws, protocols and the distinct title and rights of the Tahltan people.”
June 2021 – Province of B.C. and the Tahltan Nation begin talks on shared decision-making – “It is intended to support ongoing work to collaboratively achieve long-term comprehensive reconciliation and land-use predictability in Tahltan Territory.”
“The details of the “shared prosperity agreement” between British Columbia and the 4,000-member Tahltan First Nation will be negotiated over the next two years. The province has agreed to pause the approval of new jade placer permits in the territory over that period.”
“The two governments will co-develop a land-use plan, with the first phase of that completed by 2023.”
“As well, both governments agree to co-develop a land-use plan, complete the first phase of that plan by 2023 and to test new processes related to mineral permitting, placer mining and land use. The Province is providing $20 million to the Tahltan Central Government to support economic growth and reconciliation and to implement the agreement.”
July 2021 – Doubleview Gold Corp. and the Tahltan Central Government Enter into a Communications and Engagement Agreement – “the Company has confirmed it will not enforce and will seek no legal remedy in respect of the Injunction against the TCG, treating the Injunction as if it is of no legal force and effect”
January 2023 – Taku River Tlingit First Nation Declaration of the T’aku Tlatsini Indigenous Protected and Conserved Area
“The remaining 40% of the T’akú watershed is identified as specially managed landscapes.
These specially managed areas include zones with high mineral potential, where the T’akú IPCA provides opportunities for respectful, clean mineral extraction and other uses that support a low carbon economy.
The Tak’hu (Taku) River Tlingit have historically been miners, and this IPCA provides a path forward that values and considers all aspects of their cultural heritage while supporting Canada’s need for critical minerals.”
“The B.C. government ‘has a responsibility to respectfully work with other First Nations that overlap the proposed IPCA and with communities and stakeholders that may be impacted,’ said Nathan Cullen, the province’s minister of Water, Land, and Resource Stewardship”
February 2023 – Tahltan Central Government Strongly Asserts Tahltan Territory Borders, Opposes Neighbouring Nations Claims
“Most recently, on January 20, 2023, TRTFN announced the Taku River Tlingit First Nation Declaration of the T’aku Tlatsini Indigenous Protected and Conserved Area (Taku IPCA). TRTFN included the Sheslay area within Tahltan Territory in its Taku IPCA. TRTFN did not seek or obtain Tahltan consent prior to including any of Tahltan Territory in the Taku IPCA, and it appears that TRTFN did not have the support of the Province of British Columbia (Province) prior to declaring the Taku IPCA. The TCG denies that TRTFN has the right to govern Sheslay or any other area of Tahltan Territory and opposes this type of unilateral assertion of governance rights by any Nation within Tahltan Territory.”
21 July 2023 – Tahltan Nation Opposes Doubleview Gold Operations in Tahltan Territory – says it hopes the BC Government doesn’t provide permits to the company in the future. On 24 July, a delegate which included the TCG President (Chad Norman Day) went to the site and met with the company (according to an interview by Chad Norman Day). As of 30 July, Doubleview Gold hasn’t been evicted and wasn’t asked to stop drilling.
In Canada, just about all deposits (possibly ALL deposits) that were put into production on First Nation Territory experienced opposition well before they were developed.
In the case where mines experienced opposition, it was done so for extremely strategic financial reasons. Although these oppositions were not pleasant for shareholders of these companies, hindsight reveals that these oppositions were simply an unpleasant form of validation that the deposit was getting noticed due to it’s future potential to become a mine.
Although I believe Doubleview Gold could have avoided the issues in 2021, I believe opposition was inevitable due to the project’s potential and also due to it being located on overlapping First Nation Territories.
Regardless of the underlying root cause of the First Nation opposition, I believe it’s simply a painful form of validation and bullishness. The overlapping territory is a historical dispute which saw renewed attention after Doubleview Gold found something significant there.
Doubleview Gold’s project is one of the most significant critical metals deposit in North American. With the green energy transition and Canada’s goal to establish a domestic critical metals supply chain for North America, I believe the economic benefits and contribution to a carbon neutral economy are so significant that it’s in the best interests of the BC government, the Canadian Federal government, the Tahltan Nation and the Taku River Tlingit Nation that Doubleview Gold’s project is successful in becoming a mine. When a resolution occurs, it will result in a re-rating of the company’s share price which has been subject to a First Nation issue discount since 2015.
In my opinion and at this current moment, my conviction about my investment thesis on Doubleview Gold remains extremely strong.
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Company Disclosures
Doubleview Gold
My spouse & I are both shareholders so I’m biased. T$R independently initiated coverage of Doubleview Gold on 14 June, 2020.
Compensation/Sponsorship – Nothing to declare
Promotional Items Received – July 2020 – My spouse (not associated with T$R) and I each received 1 baseball hat from Doubleview Gold. The company publicly announced any shareholder could receive a company hat for free and it was available to any shareholder upon request.
ESGold
My spouse & I are both shareholders so I’m biased. T$R independently initiated coverage of ESGold on 01 February, 2022.
Compensation/Sponsorship: August, 2024 – After the release of the report on ESGold on 02 July, 2024, the company (ESGold) offered to compensate T$R for the article & consequently, T$R featured it as a sponsor from 01 – 31 August, 2024. On 23 August, 2024, T$R received the compensation of 250,000 shares of ESGold from Computershare (DRS). The shares are subject to a 4 month holding period. T$R intends to hold the shares for investment purposes. Due to T$R’s extensive coverage of ESGold, there’s a possibility that ESGold pays T$R for the creation of certain content in the future.
October, 2024 – On 29 October, 2024, T$R’s founder (D4), received C$19,000 & 190,000 warrants (exercisable at C$0.15 & expire in 1 year) as finder’s fees on the financing that closed on 30 September, 2024.
Financings – July 2022 – I participated in a financing but the warrants expired without being exercised.
Promotional Items Received – July 2022- I received a free hat from ESGold. ESGold was giving away free hats and T-shirts to people that wanted them (I didn’t receive a T-shirt as they had already given them all out).
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Background & Experience
The writer is not a geologist, has never worked in the mining industry and has no formal experience or education in geology. The writer is a self-educated resource enthusiast with over 2 decades of personal investment experience in the mining exploration sector.
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Content
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