LETTERS TO THE EDITOR — B.C. needs `prospector’s

In the article “NDP killing mining” (T.N.M., Nov. 16/92), M.R. Brown points out that the New Democratic Party is hurting mining in Ontario and British Columbia. However, he did credit Ontario with providing what he called “Mickey Mouse schemes” to encourage grassroots exploration. In British Columbia, we don’t even have that. Our government dropped funding of the prospector’s assistance grants this year and is not likely to revive it.

To make matters worse, the Vancouver Stock Exchange has been discredited by the domestic and foreign news media. It is doubtful if the VSE can continue to be an effective vehicle for junior company financing.

The government should provide incentives to encourage investment and also facilitate ways in which investment can be channelled into legitimate speculative ventures.

I suggest forming “prospector’s syndicates” under rules and regulations that would not be too onerous, discretionary or expensive but would provide some measure of protection against unscrupulous operators. Where encouraging results were achieved in the initial stages, these syndicates could be converted into public or private companies, possibly as joint venture projects with major companies in some cases.

Walter Guppy

Tofino, B.C.