And this is a sweet one.
January 16, 2023: Trudeau snubs Moe at Saskatoon photo-op
On Monday, Trudeau and Saskatoon Mayor Charlie Clark toured the Vital Metals facility in Saskatoon, speaking with workers and getting an inside look at the process. […] Moe released a statement earlier in the day saying his Saskatchewan Party government was not aware of the prime minister’s visit to the facility.
January 18, 2024: Saskatoon’s Vital Metals liquidates assets amid bankruptcy
Degagne [McDougall’s Auction] said most of the equipment for auction was brand new and sold for pennies on the dollar. Successful bidders have until the end of January to claim their purchases.
Trudeau’s Reverse Midas Touch strikes again. Have to get this one up on Twitter @Moe and @Pollievre to go viral.
RNrn
From “the federal government recently spent $5 million to help establish processing and production at the Saskatoon facility” to “cents on the dollar”.
That’s just the sound of the budget balancing itself, folks.
Be thankful that our Finance Goblin is on it.
these ‘juxtapose’ posts are always fun but this one has the bonus ‘proximity’ and ‘swiftness’ ha ha ha Vital and the rest of you ‘let that be a lesson’
With your (grandchildren’s) money and his faith in green boondoggles, what can go wrong? This is peanuts compared what will happen in a few years to our multi-billion dollar battery manufacturing “investments”. Southeast Asia is shaking in its boots as Canada, under the snowboard instructor’s managerial prowess along with his diversity hire, media / WEF – trained financial genius, becomes a manufacturing powerhouse in something we lack all competitive advantage in but rent seeking bounty.
Speaking of green boondoggles, John, the little spinny-thingies are starting to age out. Wanna bet there’s no money for replacement?
The
subsidywind farmers got the subsidy money and the extortionist rates. When that ends, they’ll walk away.Vital Minerals—just another Liberal program that failed!!!!! Glad Moe missed the opportunity to be with Prince Justin! No wonder Canada can’t afford to supply MRI and other needed medical equipment!!!!
Canada is bankrupted by a FOOL !
To say that Dan Vandell has two faces is to miscount by an order of magnitude.
He’s also completely incompetent but as a Liberal, that goes with the territory.
In Winnipeg, there was a bio diesel plant being built and Dan was a loud supporter of it and made sure that everyone got a picture of him on site, doing helpful things.
At no time did he actually assist in getting the plant built and in fact spent a good deal of time making sure that the plant would not be built.
There was a fire at the plant a few years after it opened and the building destroyed.
When it was being rebuilt, the feds and locally, good old Dan Vandell were right there, in the way. Demanding all sorts of changes to the building which would have had ability to start the previous fire.
At the end, right before the new building was to be opened, Dan and company wouldn’t allow an occupancy permit so the owner had to sell and leave the city.
Jobs left the city. Thanks Dan.
Of course, Dan is in a Liberal strong hold so they could run a dirty sock and still get elected so long as it’s a Liberal on the ballot.
Geoff H.
With so many “Now Is The Time At SDA When We Juxtapose!” examples involving our glorious bumbler perhaps a new word could be coined “Justinapose”.
This being a Saskatoon story, it won’t get much traction in the rest of the country if any.
Some other soul on this site once coined the term “Schadenboner.”
This juxtaposition brings it!
If I was in charge of China’s mining program I would over-mine rare earth metals, without environmental or safety standards to shut down competing mines. Once they were closed, I would buy a controlling interest to keep them from reopening. Then I would increase the price of those rare earth metals that I was mining. If some brave soul tried opening a mine, the prices would drop. If someone tried recycling them I would wait until they were in production, then drop the prices, flood the market and wait a bit. When they closed shop and auctioned off their equipment I would buy it “for pennies on the dollar” posing as “an international investor”.
But I’m not in charge so I’m pretty sure it’s just a coincidence.
In December 2022, a month before the Hair showed up Vital Metals was already making noises about problems with the plant, including this gem:
“Vital remains committed to the completion of its rare earth processing facility in Saskatoon,
Saskatchewan. To better align capital expenditure with the anticipated timing of revenues based on
Vital’s offtake partner’s plant completion, the Company has taken the decision to defer the
completion of the rare earth hydrometallurgical leaching, purification and rare earth precipitation
circuits of the facility until 2024.”
Didn’t even make it out of 2023, but the writing was on the wall long before then.
Funny that photo of his Majesty wearing the hard hat. The S__-__-_-____h will never die of head injuries!
This is a double loss for SK. Canada and Saskatchewan really ought to be building these sorts of facilities and industries. The monetary loss is nearly irrelevant. Strategically, the project was one of the best ideas JT has visited. We lost when it was mismanaged a year ago, and we lost again when the equipment was sold overseas. Canada lost when Ottawa failed to protect this strategic development.
“Canada lost when Ottawa failed to protect this strategic development.” All going as planned.
bverwey
If these projects “made sense” the private sector would be doing them with their own dollars.