Business
GéoMégA Announces Pre-Development Agreement at Montviel with The Grand Council of the Crees (EI) and The Cree First Nation of Waswanipi
MONTREAL, Oct. 20, 2011 /CNW Telbec/ - Geomega Resources Inc. (GéoMégA) (TSXV: GMA)...
About this update from Geomega Resources Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Oct. 20, 2011 /CNW Telbec/ - Geomega Resources Inc. (GéoMégA)\n (TSXV: GMA) is pleased to announce the Company has signed a\n Pre-Development Agreement (\"PDA\") for its Montviel Rare Earths Project\n with the Grand Council of the Crees (Eeyou Istchee) / Cree Regional\n Authority and the Cree First Nation of Waswanipi.\n\n\nThe PDA has been developed on the principle of mutual respect between\n the parties, and the interests of all stakeholders in seeing the\n establishment of a successful mining venture at Montviel. It provides\n for business and employment opportunities for the Crees during the\n period of pre-development activities leading up to a potential\n production decision at the project, the completion of a comprehensive\n Business and Employment Capacity Study to assess the full potential for\n Cree business and employment opportunities from an eventual Montviel\n Rare Earths Mine, and the creation of a joint communication strategy.\n In addition, the PDA provides for Cree assistance in the preparation of\n an Environmental and Social Impact Assessment for Montviel, and any\n other relevant environmental and social assessment studies. The PDA\n builds upon good faith dialogue between the parties, and contemplates\n the completion of a subsequent Social and Economic Participation\n Agreement.\n\n\n\"This agreement is the result of a collaboration that began in October\n 2010, a week after our IPO, while preparing for the commencement of\n Phase 1 drilling at Montviel. This significant milestone, achieved\n early in the development of Montviel, illustrates our dedication to\n Social and Environmental respect. Thanks to the collaboration of the\n Crees of Eeyou Istchee, in particular the W11B Tallyman and his family\n and the Cree First Nation of Waswanipi, Montviel promises to be one of\n the fastest developing rare earth project globally. In addition to\n providing for meaningful benefits to all stakeholders, this agreement\n confirms the support of involved parties in the pursuit of activities\n and studies necessary to enhance the value of our promising Montviel\n project.\" stated Simon Britt, CEO of GéoMégA.\n\n\nChief Paul Gull from the Cree First Nation of Waswanipi stated: \"Our\n community and the Council of the Cree First Nation of Waswanipi are\n eager to collaborate ...