Rich working granite quarry

Acting on a geological technical report of a granite prospect in northeastern Alberta, Rich Capital (VSE) has begun on-site operations and is extracting block stone destined for locations in Canada and the U.S.

The company plans to be fully operational within three months and expects to quarry 15,000-20,000 tons in the first year. This will increase to 90,000 tons in the third year of operation.

A minimum average gross revenue of about US$900 per ton is projected. The property is on the east bank of barge-accessible Slave River, 30 miles southeast of Fort Smith, Alta., on the border with the Northwest Terri-tories. Rich originally identified the quarry in association with Northern Alberta Granite. The field reconnaissance and evaluation study was undertaken in August by Geo-Engineering.