Gunsynd (GUN ) expects its Bear Twit project in Canada to benefit from greater access to major Canadian highways, following an announcement from Prime Minister Mark Carney that construction on the Mackenzie Valley highway will start this summer.
The highway is one of three major projects in the Northwest Territories officially referred to Ottawa's Major Projects Office, along with a redefined Arctic economic and security corridor and the Taltson Hydro expansion, Carney said as he announced $35 billion in investment into northern defence and infrastructure.
Carney said the first phase of construction will involve building an all-season highway from Wrigley to Norman Wells, while the second phase will eventually extend the road all the way to Inuvik.
This will mean for Gunsynd and in particular with respect to its Bear Twit project, Norman Wells will be connected all year round to Wrigley and from there to major Canadian highways giving the prospect of much improved and cheaper transport costs with respect to its Bear Twit project.
View from Vox
Welcome news for Gunsynd as it continues to press ahead with work on its Canadian portfolio of assets. Access in northern Canada can be a major expense and logistical headache for junior miners, and this development should ease things up considerably.