By Kathleen Phalen Tomaselli, Houlton Pioneer Times
MILLINOCKET – Getting Maine Land Use Planning Commission rezoning approval means more investment dollars for Canadian junior mining company Wolfden, according to company officials.
“If we were to get through rezoning, I expect our stock price to go up and that allows us to raise the $15 to $20 million to do the execution,” said Wolfden CEO Ron Little on Oct.
By Kathleen Phalen Tomaseli, Houlton Pioneer Times Staff
MILLINOCKET Much of the information supplied in a Canadian junior mining company’s rezoning application for a mining project near Pickett Mountain in northern Penobscot County is speculative, according to testimony on the first day of Maine Land Use Planning Commission’s public hearings on the proposal.
Monday’s testimony and cross-examination regarding Wolfden’s application to change the zoning from a general management and protection area to a planned development area, zeroed in on the company’s financial stability, the actual composition of the mine and the company’s ability to operate a mine.