Highbank Resources Well-Positioned To Benefit from Major Developments in BC Coast

Highbank Resources Ltd. (TSXV:HBK,FWB:V7O) reported developments nearby the Swamp Point North Aggregate Project in the Port of Prince Rupert, BC, Canada. Numerous LNG plants have been proposed on the coast, with Enbridge recently purchasing a $20-million parcel of land on the northwest B.C. coast, a signal it may intend to join the push to export liquefied natural gas to Asia. Several major pipeline projects in the area have been proposed by TransCanada, Spectra Energy and Pacific Northern Gas. Majority of these projects are within the service area for delivery of aggregates (sand/gravel) from Highbank’s Swamp Point North Aggregate Project.

As quoted in the press release:

The 64 hectares of land purchase by Enbridge Western Access Inc. at Grassy Point (35 miles south of HBK’s Swamp Point North project), is adjacent to larger parcels of land where Australia’s Woodside Petroleum Ltd. (see Highbank’s news release dated Jan. 21/14), and China National Offshore Oil Corp. (“CNOOC”)-owned Nexen (see Highbank’s news release dated Nov.14/13) have inked purchase agreements with the B.C. government for the Crown lands. Nexen owns 60% of the proposed LNG project at Grassy Point, dubbed Aurora LNG. The other 40% is owned by Japanese companies INPEX Corp. and JGC Corp.

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