Wednesday, June 22, 2016

Canada: Local Support for British Columbia Geothermal Project

Opinion: Geothermal money where mouth is (The Rocky Mountain Goat)

If I had a million dollars, I’d invest in the Valemount Geopark and get core holes drilled and the first slim hole started. I don’t have money like that. But if given a chance, I will put the money I do have – little as it is – in this project I believe in.

Korie Marshall, Editor
The Rocky Mountain Goat
Borealis Geopower is considering a crowdfunding campaign to help get a geothermal industrial park, in partnership with the Valemount Community Forest, off the ground. Borealis doesn’t have to crowd fund, they have other options, and it won’t cover all the costs they’ll have for the project. The BC Securities Commission has new rules for start-up crowdfunding, and no one person can invest more than $1,500. There are also limits to how much can be raised with crowdfunding. 

So when you are talking about half a million dollars to drill core holes, and then another million each for slim holes, that would take over a thousand individual investors putting in the max amount just to get the first slim hole – a daunting task.