Waswanipi Crees form own company

President Billy Ottereyes told The Northern Miner in a telephone interview the company has four or five properties it is interested in exploring.

Possible joint ventures are being discussed with established companies such as Cambior Inc. and Tundra Gold Mines, said Ottereyes, who is operating Cree Exploration on behalf of the Indian band along with partners Sam Kitchen and Harry Otter.

Also being discussed are ways of raising needed financing, he said; the company is operating with limited capital. Other band councils in the area are being approached with regards to their involvement in the company.

A subsidiary, Cree Geophysics, an exploration services company, is being established. The plan is for Cree Geophysics, some of whose employees have worked for mining companies, to undertake contract work for other companies.

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