LETTERS TO THE EDITOR B.C.’s decision on Eskay claims worries

I was disappointed with the British Columbia Ministry of Energy, Mines and Petroleum Resource’s decision to recommend cancellation of seven of nine Eskay Creek claims held by Eurus Resources (T.N.M., Dec. 3/90). I am a U.S. stockholder in Eurus and now I find an agency of the British Columbia government is recommending that a major asset of the company be given gratis to another company on what appears to be a subjective judgment.

Now if you invest in a Vancouver Stock Exchange mining company you no longer just have to worry about if your company will find anything on its claims, but if it really owns those claims in the first place.

Section 35 will not improve the VSE’s image; it is inequitable because it does not provide compensation to the injured parties and therefore similar to confiscation, and will hurt British Columbia’s resource development.

Along the way stockholders in various companies will find their company’s assets have disappeared, not because of a poor decision, but because there were not enough stakes in the ground. James Gerber Lansing, Mich.