Well, it looks like Paul said the quiet part out loud.
During a recent “Virtual Copper Conference,” a two-hour video on YouTube, the CEO of Faraday Copper Paul Harbidge finally said what most people were thinking. Faraday has no plan to actually mine Copper Creek. Below is that clip from the interview.
This is the direct opposite of what Faraday Copper said at their first open house when asked if they would be the ones to operate the mine. This question was asked multiple times.
The junior miner concept of “adding value” and selling is referred to as “Bump it and Dump it.” If you recall one of our previous posts, “Junior Miner Playbook,” we highlighted the article written by a 35-year industry insider that described the junior miner business model. So far, almost every move by Faraday was called out in this article.
In the next clip, Paul is asked about water and resources in Arizona. After rambling for over a minute, the question of water use was never answered. Also, he thinks that Copper Creek is next to a highway, SMARRCO rail line is active and SunZia is providing power to Arizona. Not one of those statements is correct.
It seems he gets stuck between two thoughts. He wanted to say his usual “Get people out of their comfort zone and their immediate response is to create barriers” and something about a green energy “tsunami”….blah, blah, blah, but he moved ahead on the script and spoke about “social license.”
This term is new to us.
Investopedia defines social license as,
“the ongoing acceptance of a company or industry’s standard business practices and operating procedures by its employees, stakeholders, and the general public.”
We will have many more interview clips and mentions of “social license” in upcoming posts.
Thanks to everyone for their support.
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