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Highbank Resources Ltd. (TSXV:HBK) announced that it has successfully completed its first commercial shipment of aggregates to the Port of Prince Rupert, the company’s recently built barge-loading facility. Highbank also provided an update on its Fairview Container terminal and the agreement with Pacific NorthWest LNG.
As quoted in the press release
The Sea Warrior arrived at 10:00 a.m. Friday, May 1, 2015 and is the first commercial vessel to moor at the Company’s recently built barge-loading facility. With the barge anchored, crews immediately put to work the barge load-out conveyor system, loading approximately 4000 tons of customer ordered 1” base crush material through the night. This first deployment of our barge loading system performed better than anticipated, and loading was accomplished sooner than expected. The “Sea Warrior” then towed the loaded barge to deliver the Company’s first commercial shipment of aggregate, to the Port of Prince Rupert, arriving Saturday, May 2, 2015.
The final investment decision was made for the expansion of the Fairview container port on March 10, 2015 stating construction to start in April 2015. April 2, 2015 the Maher Terminal’s Fairview Container Terminal was sold to DP World Ltd. of Dubai, UAE for $580 million CDN.
Further to our news release January 13, 2015 announcing Petronas agreements: (i) a 25 year agreement-in- principle in support of infrastructures and services totaling $150 million with the District of Port Edward, (ii) an agreement with the Metlakatla First Nation, and (iii) an Impact Management Benefits agreement (IMBA) term sheet with the Kitselas First Nation, additional progress has been announced.
This week’s majority ruling from the National Energy Board (“NEB”) panel paves the way for TransCanada to construct the North Montney Mainline (“NMM”) gas route in northeastern B.C., where producers have enjoyed success with prolific gas wells.
Victor Bryant, president and CEO of Highbank, commented:
The arrival of this first sand and gravel aggregate shipment to Prince Rupert is a milestone in the development of Highbank’s deposit. It signifies to shareholders that their faith in the Highbank development has been justified. Importantly, it also demonstrates to local end users that a new high quality, competitive, and locally sourced aggregate is now available.
Click here to read the Highbank Resources Ltd. (TSXV:HBK) press release
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