Polaris Minerals CEO projects growth
June 20, 2009 By Andy Bateman
June 20 2009 – Yesterday’s Victoria Times
Colonist quoted a cautiously optimistic Herb Wilson on prospects for the Polaris Minerals aggregate operation on Vancouver Island.
Wilson, president and CEO of Polaris Minerals Corporation, explained that the Orca Sand and Gravel operation sold approximately 450,000 tonnes [in the
second quarter] last year and "we believe we are going to be fairly close to
repeating what we did last year."
"The $64,000 question is where the second half of
this year is going."
While the sector welcomes economic stimulus funds in the U.S. and Canada, he said, "It takes
time before it appears as physical work on the ground."
Polaris can benefit from money devoted to infrastructure
because the high quality of Port McNeill's sand and gravel makes it suitable
for such projects as highway overpasses, bridges and dams.
Wilson figures the economic cycle has hit
bottom. The pace of recovery will probably be "fairly measured, fairly
steady" starting mid-year, with improvements next year and beyond, he
This year's first three months were hit by the economic downturn
as well as wet and cold weather along the west coast, Wilson said. "The combination of the two
meant that the first quarter was really very, very disappointing."
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