MR. McNEIL: Sir?
AUDIENCE: Bob Green. I live on Scottsville Road. Am I correct the assumption that your Act 250
permit will contain a reclamation planas part of that permit?
MR. McNEIL: The question is will the Act 250 permit have a reclamation plan within the permit. Is that right?
MR. REDDY: As a matter of fact, in almost every one of the states, you didn't used to have
reclamation permits in the mining industry, but most of the states in the middle '70s, including
Vermont, passed new laws and we're not allowed to dig the first shovel full out until part of the
process is we have to show them what it's going to look like when it's all done. That's part of the
process today. That's everywhere in the United States that I know of. I think there's still maybe
a few states that don't have that. Vermont has that. Before we start, we have to tell them exactly
what's going to happen when it's all done, what it's going to look like. There's plans and we are
committed to those plans. I mean, we have to be committed to them. That's what we have to do.
That's just part of the process. That's the way the world has changed. A hundred years ago
you didn't do that.
MR. McNEIL: Mrs. Phillips?
AUDIENCE: I understand you own land in 20 to 30 others towns in Vermont. I'd like to know
if you are going to put these beautiful quarries in those such as Dorset and Manchester also?
MR. McNEIL: The question is will OMYA -- does OMYA have plans to put 20 or 30 quarries
in other towns. Is that correct?
AUDIENCE: Their beautiful quarries, as he just described it.
MR. McNEIL: Beautiful quarries.
AUDIENCE: Yeah.
MR. McNEIL: I'll write that down.
MR. REDDY: I think the best one to answer that question is John Mitchell because he knows
most of the areas and I don't. The fact that I don't know is sort of as an indicator that we're not
going to put quarries there, but, John, you can answer that.
MR. MITCHELL: The principal reason that we own property in so many towns is that we
have an electric power company and the electric power company runs lines on rights of way that
date back to about 8 1894. And those lines run all the way from the center of Manchester
through Dorset, up Danby through all the towns up to Proctor and then from there up to
Middlebury so that's why we own so many towns. We also own a lot of prospective marble
reserve.
AUDIENCE: (Laughing and applause.)
MR. MITCHELL: That was Redfield Proctor and he's dead now. But actually he did own a
whole town once, Redfield Proctor did. But we do own marble reserves in a variety of towns,
many of which are not suitable for quarrying because they're either green marble or red marble or
black marble or whatever. So, these are legacies of the Vermont Marble Company. So, the
ability to quarry the kinds of marble that we want is relatively limited, but we can't predict over
the long span of time which ones would be open and when.
MR. McNEIL: Wayne?
AUDIENCE: My name is Wayne Keefe. I live on Colvin Hill Road here in town and my
question is: How many people will get up in the morning and go up to the job site, the mine, to
go to work? In other words, how many jobs will you provide for the Town of Danby?
MR. McNEIL: Wayne has asked how many jobs will be provided for the people that live in the
Town of Danby. Right?
AUDIENCE: Yes.
MR. REDDY: I'm going to have John Suddarth answer that since he's our personnel manager,
but actually we don't restrict the people that work at the plant right now to non-Danby
residents. We actually have a bunch of openings right now and John has some of them with him I
think and we're willing to accept applications. We have job openings almost all the time. But for
this specific quarry and the new jobs that would be located right locally and you wouldn't have to
commute very far, John, you want to?
MR. SUDDARTH: My name is John Suddarth. I've been with OMYA about five years now.
We have talked about the number of jobs that would be created and we talked in the number of
conservatively of 30 to 35 jobs. Again, we have -- the only employees that we will have on our
payroll will be at the OMYA plant in Florence. The other jobs in the quarry and the trucking
company, if trucking is the option that we choose to transport, will have the greater number of
jobs. I talked to Harry Carter about the number of people that he would use if the trucking
transportation option was chosen and he's saying 10 to 12 people. In the quarry we're looking at
another I think 10 to 15 people. So those are conservative numbers. We don't have, you know, a
firm number right yet. Any other questions?
MR. McNEIL: I'm just going to make one announcement. We're going to give everybody a
chance to speak. There's ahand down here. Sir?
AUDIENCE: My name is Corey White and I have property on Dutch Hill Road and my
question is: Historically how has the blasting affected foundations and wells of nearby residents?
MR. McNEIL: The question is: Historically how has blasting affected the wells and
foundations of nearby residents. Right?
MR. REDDY: I'll give you a little fact and then part of the simple answer is we have outside
experts as part of the Act 250 process who are doing the studies to put in the reports. Outsiders
will be doing the final answer. A quick answer, though, for right now is we already have existing
quarries. We have closeby neighbors. They have houses and they have wells. A good example is
up near the Middlebury quarry the nearest house is 500 and so feet from the quarry and the
nearest well is less than that. It's closer. It's around 500 feet from the quarry. We have been in
Middlebury how many years?
OMYA: 35.
MR. REDDY: 35 years. The houses are still there, the people still live in them and they're still
drinking water.
AUDIENCE: (Laughing.)
MR. McNEIL: The gentleman in the back. Yeah. Yes.
AUDIENCE: My name is Ray Beinkowski. I live on Tinmouth Road. My question is: You're
going to take calcium carbonate for 50 years out of this mountain. I wonder how many millions
of dollars you're going to make at that, and, if so, why don't you just buy the town and be
straightforward about it and send your experts home. Buy the town or go somewhere else or
stop trying to tell us something what a wonderful thing you're doing because it is going to be a
disaster for our property values.
AUDIENCE: (Applause.)
MR. McNEIL: The question you asked was how much are they going --
AUDIENCE: To buy the town instead of doing it piecemeal and hide the fact that we're going to
be bled to death.
MR. McNEIL: That's a statement. That's not a question.
AUDIENCE: Well the question is: Why don't they buy the town? That's the question.
MR. McNEIL: Go ahead, but I think it's a stupid question. Do you want to answer it?
OMYA: Go ahead.
MR. REDDY: The only thing I got out of your-- what I could gather as maybe a question is
what impact it has on property values. Is that the question?
AUDIENCE: I can't hear you.
MR. REDDY: What impact the quarry will have on property values. Is that what you're
asking?
AUDIENCE: Well, the question was: When you dig on that mountain for 50 years and blast and
haul stuff off of the roads, what do you think is left? So I'm being perfectly honest. So why
don't you just buy the town and be straightforward about it and send your experts home. Is
there an answer?
MR. REDDY: I'm not sure what the question is.
AUDIENCE: I'll repeat it again. Why don't you buy the town instead of bleeding us to death for
50 years. How much simpler can it be? You've got your experts up there.
MR. REDDY: Well, we're mining a 23-acre quarry in the middle of a 33-acre deposit. That is
not the whole town. It's not the whole mountain. It's a small quarry in the middle of a large
mountain.
AUDIENCE: With all due respect, it's a 33-acre strip mine in the first place. It's not a 20
quarry. Second is you realize everyone in this room is going to be effected economically in a
drastic way. This is not business as usual. This is not a gravel pit. The pastoral value, the
environment, our way of life. I'm saying why don't you just be honest and buy the damn thing.
You're buying pieces around and buy the whole thing.
MR. McNEIL: Do you want to buy the town?
MR. REDDY: No.
MR. McNEIL: Lynn?
AUDIENCE: As recently as February 2000 you purchased additional land in Danby and you
now own land all the way to the Tinmouth town line. Please tell us if you will expand the mine,
yes or no, and if 10 yes, please give us your best estimation as to when and how far and
what the total size of the disturbed area will be.
MR. McNEIL: Can I ask a question, Lynn? When you say will you expand the mine, are you
saying over what their Act 250 permit will be?
AUDIENCE: Exactly. And in recognition of the fact that they own all the way to the town line and have recently made the purchase.
MR. McNEIL: Okay. So, the question is: Will you expand the mine in recognition of that you
own the land up to other towns pass -- will you over the Act 250 permit. Got it?
AUDIENCE: Yes or no.
MR. REDDY: Yep. We own property in addition to the 33 acres that we're proposing the mine.
One of the things we do in all of our operations as near as we can is we try to buy the adjoining
property simply to create a buffer area. That's, you know, we buy property around what we
need. You don't mine to the edge of the property. We buy buffer lands around that. All we are
asking for, this is as close as I can get, is a 50-year permit for 33 acres.
AUDIENCE: Is your answer no or yes?
MR. REDDY: What I'm telling you is what we're asking for. I don't even know -- it's hard to
forecast 50 years in the future.
AUDIENCE: Is your answer maybe?
MR. REDDY: The answer is all we are asking for is a permit for 33 acres. That's all we're asking
for for 50 years. That's all we're asking for.
AUDIENCE: So answer the question.
AUDIENCE: He did.
MR. REDDY: I think I did. All I'm asking -- all the company is asking for is an Act 250 permit
to mine, to quarry the 23-acre hole.
AUDIENCE: Will you be asking for an amendment to that permit in the future? Yes or no?
MR. McNEIL: We're in one question.
MR. REDDY: That's a difficult question to answer because all we are asking for today is for 50
years.
AUDIENCE: (Applause.)
MR. REDDY: Okay. Let's say in 50 years we decide or we find that there's a bigger market for --
AUDIENCE: We all plan on living here for 50 years so we need to know these answers long
term with all due respect and so we're asking for these answers as to what you will do with the
property that you now own that extends from the Breton farm all the way to the Tinmouth line.
MR. REDDY: Let's assume that in 25 years we need another 10 acres. We would have to go
back for a 15 permit. We can't -- we're asking for a permit for the one quarry that we expect,
from all the studies that we've done, that's going to last us for 50 years. I recently permitted a
quarry in California. We got a 62-year permit on that. And that's --
AUDIENCE: Maybe we can move on to another
MR. REDDY: Okay.
MR. McNEIL: Sir, sitting down right.
AUDIENCE: Carter James. I live on Lilly Hill. I missed the very beginning. I'd like
clarification. Are we talking quarry or are we talking strip mine? That's part one. On the sound
issue of what I read and from facts which are readily available on VCE's website, five miles is the
distance that the blast can be heard, noise that can be heard from blasting depending on wind
condition. And my main question is: What do you anticipate as annual revenue, net revenue out
of this quarry from the beginning to the end?
MR. McNEIL: The question you have is: Is it a quarry or is it a strip mine. The second is the
sound issue you're taking issue with and -- you're not.
AUDIENCE: No. I'm just clarifying.
MR. McNEIL: And the third one is, so your statement was five, and the third one is how much
do they expect to make.
AUDIENCE: Net revenue of the quarry on an annual basis.
MR. McNEIL: If they want to answer the last, that's up to them, but that's a financial question
that they're a business. I don't think they have to answer anything on revenue, so I'm going to let
them make the choice.
AUDIENCE: Isn't that information going to be public in their prospectuses and stuff?
MR. REDDY: Well, let me first talk about the strip mine versus a quarry. This is a quarry.
There's a big difference between a strip mine and a quarry. A strip mine generally you are mining
a thin layer of overburden or the top stuff and a thin layer of matrix and you mine the two and
maybe you're done in one week and the move onto the next area. It's a continuous process.
That's a strip mine. There are strip mines in -- I know strip mining because, you know, the sins
of my past I actually worked at a strip mine in Florida in the phosphate industry and we mined
several hundred acres a year so I know what a strip mine is. When we mined 300 acres a year, in
50 years we would have mined 1,500 acres. Here in 50 years we're going to mine 33 acres. Here
you clear the overburden first and then you dig in the hole for the next 48 1/2 years. It will take
us a year and a half or so to clear the top and we dig in the same place for the next 48 1/2 years.
AUDIENCE: Aren't you just going in a different direction? One you're taking --
MR. REDDY: No. There is a real difference between a strip mine and a quarry. A strip mine is
a continuous process where you continue to strip the earth. And there's nothing wrong -- well,
maybe. It's a valid process if that's what you have to use. In Vermont you have an advantage.
We don't strip mine. It is actually a quarry. The difference is this is not good enough marble for
the integrity of it or to make a marble table. It's fractured. It doesn't look pretty like that kind of
color, that's why it's not being used for that. But if it was that good a marble, we would be
digging it out in chunks and it would be the same operation. This is a quarry. It's not a strip
mine. Absolutely not a strip mine. Let's see. The other question.
AUDIENCE: Revenues.
MR. REDDY: The sound I think you said was a comment. The distance the sound will travel.
We will be doing -- one of the consultants that we've hired does actually a sound -- that will be
reported in the final Act 250 permit. That will be how far does the sound travel and what is the
decibel level of the sound, and there are permit regulations I believe. Van, are there regulations on
the sound?
MR. VAN SCHWIEBERT: Danby does not have a zoning ordinance, a zoning regulation, so
Danby does not have in place limitations on sound or decibel levels. Act 250 traditionally has
imposed limitations on sound emissions from various types of development, and we've always
been able to comply with those and I would expect that those would be applicable in this case as
well.
MR. REDDY: So even though Danby doesn't have it, Act 250 has it and we would have to
comply with 11 that. We're going to have to comply with that. We have to comply with
them on our other quarries. I mean, we have a local quarry here that those of you that drive by
South Wallingford, it's right in the neighborhood, you drive right by it on Route 7. I don't know
if you've heard the blasting out of there that they blast.
How often do we blast out of South Wallingford?
OMYA: Twice a week.
MR. REDDY: So we blast out of South Wallingford right now twice a week. We're talking about
blasting out of this quarry two or three times a week so about the same. On the revenue I do
have to say that that's confidential. The opening statement when John Mitchell described what
we're doing right now, right now we're spending in Vermont between paying our employees and
paying our suppliers, one of our suppliers is actually sitting here right now, Mr. Carter with the
trucking company, we pay him which means he pays his salaries. We're paying a lot of money in
Vermont. We have over around 300 employees But the direct people in our -- that aren't our
employees. We don't do everything. You can only do so many things in a company. We do
what we do well and we try to hire other people that do things better. Harry is a much better
trucking operator than we are. One of the things we didn't say, we haven't said yet, is he's got
the safest record in the state. About the safest record in the state. He's three times better than
the national average on his truck drivers. He fires a truck driver if they get caught with a speeding
ticket. He's much better at running a trucking company than we are. In a sense they're basically
working full time for us. We got 500 of those people in addition to our own 300 because we 24
don't do the trucking. We hire somebody else who is better at it than we are. We hire people,
local companies that are better at the things that they're better at and we do what we're good at.
But we spend a lot of money. About 85 million dollars right now in Vermont.
AUDIENCE: You're talking about trucking. That has nothing to do really with revenue. That a
subcontract issue. I want to understand what your profits are going to be off the land. If you're
above board, you'd want to share. If you have something to hide, making billions of dollars or
whatever --
MR. MCNEIL: Carter, he's answered that it's confidential and he's not going to, so I want to take another question. Sir?
AUDIENCE: I'm Robert Savage. We live on Lilly Hill. What is the price of a ton of calcium
carbonate today and how many tons will you be taking out per year?
AUDIENCE: (Laughing.)
MR. REDDY: You know that? What do you want to pay? It all depends on what it's going for.
Well, --
AUDIENCE: What is the range?
MR. REDDY: You sell it actually for I know this is -- it's in the range of $20 a ton on up. The
lowest cost is up.
AUDIENCE: To what?
MR. REDDY: I think, you know, we don't -- I wish it was higher. It isn't as high. It's not gold.
The stuff that goes into cereal, for example, in food is a lot more expensive. Some stuff is ten
times as much. That's the order of magnitude we're talking about. You know, the most expensive
stuff is a couple hundred dollars a ton. And it can get very cheap. It all depends on -- the thing
that determines the value is how pure we made it and how fine the grind. The finer it is and the
higher the quality, then it costs us a lot more to make it.
AUDIENCE: How many tons are you going to be taking out a year?
MR. REDDY: This permit expansion is about a 30 percent expansion on our operation and that
would involve an additional lot of new construction. A lot of new jobs in the building to build
new equipment to process this. It's about a 30 percent expansion. Round numbers we're around
a million tons a year right now.
AUDIENCE: A million tons?
MR. REDDY: Yes.
MR. McNEIL: There was another lady here that -- yes.
AUDIENCE: We've heard all the wonderful things that OMYA makes and all they do and the
beautiful plant and the reclamation. I want to know what, if any, are the advantages to the
people in Danby.
AUDIENCE: (Applause.)
MR. McNEIL: It's nice to see you again, Mrs. Townsend. The question is: What are the
advantages, if any, to the people of Danby. All right.
MR. REDDY: Well, of course, one of the things that was asked earlier is about the jobs. One
of the studies that we are doing is as part of the Act 250 process is an economic evaluation of the
impact of the quarry. Part of the charge of that study is to determine exactly what additional
benefits are going to come to Danby. I can't tell you all the benefits right now because we don't
have the study back yet. If we wait til the study comes back, then we'll have some facts. Until
then, I'm just speculating. We've hired these people who are experts in the field of economic
analysis, and they'll come back and tell us, Here's the pluses, here's what it adds up to.
AUDIENCE: Will that be in 50 years?
MR. REDDY: Pardon me?
AUDIENCE: Will that be in 50 years after it's completed?
MR. REDDY: No, no, no.
AUDIENCE: Then we'll know?
MR. REDDY. The study has to be submitted as part of the Act 250 permitting process so we
will have the answers before we submit the permit. I don't have the answers today. What I can
tell you today or answer questions on today are things that we already know. The stuff that we
are still studying and we have the experts out there studying we have to wait until they tell us.
But they're doing it right now. That's part of -- one of the things that's required in Act 250 if we
have to look at the impact. What impact does it have on the people in the local community. It's
part of the process. We're working on it right now. We're not working it on. We've hired
somebody to give us the answer.
MR. McNEIL: We've been at this for an hour, so anybody who needs a soda or something, it's
right back there in the back. Sir?
AUDIENCE: I don't know if we're there yet.
MR. McNEIL: And you are?
AUDIENCE: I'm from a town other than Danby.
MR. McNEIL: Then we're not there yet. Sorry. But I will call on you. Mrs. -- Annette.
AUDIENCE: I'm going to use the microphone. My name is Annette Smith.
MR. McNEIL: That may not be on, Annette. There's a switch on the very top. Never mind.
There you go. I think.
AUDIENCE: This?
MR. McNEIL: I think so. Pull it towards you.
AUDIENCE: How is that?
MR. McNEIL: Great.
AUDIENCE: My name is Annette Smith. I live in Danby. I am the leader of the opposition to
this. Some of you who are familiar with my ways of opposing things, don't worry, George, I'm
not reading a speech, I do have a question, know what I do. And what I've been looking into is
trying to understand the global economics of the calcium carbonate business. And my research
has indicated --
AUDIENCE: Question. Ask a question. This is a town meeting.
MR. McNEIL: I'll do this.
AUDIENCE: Ask a question.
MR. McNEIL: I'm going to make enemies all over the place so one more doesn't make a
difference.
AUDIENCE: My research indicates that the entire global mineral extraction business is a 4.3
billion-dollar business and that the business of extracting ground calcium carbonate which has
been going on over the last 30 years was essentially at the expense of the kaolin marketplace.
That the ground calcium carbonate has taken over from kaolin and that has had some economic
impact on the State of Georgia. Recently the precipitated calcium carbonate has taken over --
MR. McNEIL: What's the question, Annette?
AUDIENCE: I'm getting to it. I've got to have a little background.
MR. McNEIL: We specifically said we weren't going to take -- ask the question. Go ahead.
AUDIENCE: The precipitated calcium carbonate business is taking over the ground calcium
carbonate business. That's widely known. Are you getting into the precipitated calcium
carbonate business? If not, why not? It can use lesser grades of limestone and does not require
the pure white marble and could make use of the material that you have in Hogback north of the
quarry. And so can we ask a reasonable question: Are you going to be getting into the
precipitated calcium carbonate marketplace when all the paper manufacturers in the country are
switching to it?
MR. McNEIL: Everybody hear that because she's on a microphone so I don't have to repeat
that.
AUDIENCE: (Applause.)
MR. McNEIL: The question I think is: Are you getting into the precipitate calcium carbonate
business, and, if not, why not. Is that --
MR. REDDY: Okay. I'll try to answer the whole question which also had to do with I think the
environmental implications that you were talking about the quality of the quarry. Actually,
we're not getting into the precipitated carbonate business. We are in the precipitated carbonate
business. We have quite a few plants in that industry already. We supply PCC, precipitated
calcium carbonate, and GCC, ground calcium carbonate. PCC plants that we have precipitated
are used specifically to supply paper companies. Precipitated has some advantages in some
areas, ground has some advantages in some areas. The predominant use throughout the world
today is ground calcium carbonate. So for us, the precipitated, while we're doing it, we believe
and most of the paper companies in the world so far believe, that the ground calcium carbonate is
the way to go. We also we have operations in many countries in the world as I think many of
you know. A big part of our operations are in the Scandinavian countries. I know that's a little
bit out of Danby. If you give me one minute. The Scandinavian countries are some of the most
environmentally sensitive countries in Europe. Green Party up there is very big and we have
operations up in there and there's a big paper, very large paper companies, the biggest paper
companies in the world are headquartered in Finland, Norway and Sweden. We have done,
commissioned a study on the environmental balance between PCC and GCC. The problem with
PCC, and I shouldn't say "the problem" because we do it, but the environmental net balance is in
favor of GCC over both kaolin and PCC. When you make PCC, for those of you are not familiar
with it, what you first do is you take a fairly high quality limestone. It doesn't have to be quite
as good as what we use. But then you burn it. As a result of the burning process, it takes a lot
of energy. When you burn it, calcium carbonate is CaCo3. You burn off CO2. It goes up in the
atmosphere. Then it's a chemical process to reconstitute it so then you have to -- that's the way
they purify it. You can start with a lower grade. And we do it. We do that also. But you start
with a lower grade, you burn off, all the impurities that are burned off go into the atmosphere and
then you chemically reconstitute them by purchasing pure CO2, reinjecting it with the CaCO
that's left and you make a chemical product. The net balance on this whole equation is very
unfavorable as far as an environmental standpoint compared to GCC. We did this study up in
the Scandinavian countries because that was a question up there. What is the net environmental
effect? And the net environmental effect is far and away in favor of GCC over both kaolin and
the PCC. I think that's the question you were asking.
MR. McNEIL: John Iurato, do you have a question?
AUDIENCE: Yes, I did. Since I understood ten jobs could be created at the mine, I question
how much value that will bring to the Town of Danby. My question to you people at OMYA is
the wear and tear on the roads will bear on our town maintenance budget. Is the increase in taxes
that will come from the mine going to be sufficient to maintain our roads in their present state
now? And from what I understand from our grand list the taxes that are paid now on the land
and around the site of the mine is about 28,000. Most of that goes to the schools anyway. Are
you ready to help the town to give it money to have an impact study on what the cost of
building new roads and maintaining the roads? And also what I think these other people were
trying to get at is since you're going to be taking minerals out of that land for 50 years, are you
willing to share some of that profit with the Town of Danby, or is it just going to cost us money
to have you here?
MR. McNEIL: I got three, John. One is, well, I mean, it was well structured. The wear and
tear, are they willing to kick in and help pay for the wear and tear of the roads.
AUDIENCE: No, no, no. Their studies are being made. We, the voters of Danby, have to go to
the poles with this in November and we have to vote yes or no. We can't wait for their study to
come in late in the fall if we're going to be voting in November. Are they willing to provide
money for an impact study on the transportation stress that your heavy trucks will put on the
roads? Are you, the company, willing to help the town pay for that? If not, that's another added
expense that our town has to go through. And is the increase in taxes on that 28,000 that you're
paying now going to be enough to take care of the added amount that we'll have to put onto our
maintenance budget to the town the road maintenance? And that you should know because you
have that estimated.
MR. McNEIL: Are they willing to pay for an impact study now? Is the increase that is the
additional taxes that will come out going to help us maintain the roads and is -- you had a
question about profit?
AUDIENCE: Yeah. Are they willing to share some of the profits that are coming out of the
mountain.
MR. McNEIL: Share some of the profits. Got it?
MR. REDDY: I think so. Remind me if I miss something. Okay. I guess on the ballot what
you're saying for November is to fund some money for a road impact study here. We are, as part
of -- we could all study the same thing and all spend our money doing exactly the same thing, but
we're already spending the money as part of the Act 250 with an independent, outside expert
consultant who is doing a study of the alternative -- trucking is one of the alternative routes.
We've also told the transportation company, Harry doesn't like to hear this, but we've also told
the company looking at the logistics to open your mind up. Take a look. Is there some other
technology, any new technology we can use. I mean, we don't know for certain yet because we
have to wait for the consultant to come back from the report what road, if any road, would be
used. But as part of the economic study that is being done, they are looking at the impacts
assuming trucking was done and that will be part of the study we're already doing. We're doing
the economic and we're doing the impact on the road, the infrastructure, so we're looking at it
both ways. What impact will it have on the roads and at what's it going to cost. That's being
done as part of the process so why do it twice. It's already being done. It's an outside -- it's not
our answer. It's an outside independent company that we've hired. There was a third question.
MR. McNEIL: Are you willing to share the profits.
MR. REDDY: No.
AUDIENCE: Since he was frank about that answer, no, he's not willing to share any of the
profits, isn't it true that when you develop the mine even though you'll be making a lot more
money from that developed land, the only taxes that our town can get on the addition of the land
that is taxed out is for the crushers and the screeners and the shacks that you put up for the
maintenance buildings and et cetera and that is another 30,000 at the most. That kind of tax
income is going to do nothing to help us maintain our roads which will certainly be stressed by
the heavy equipment running 40 trucks a day.
MR. McNEIL: Okay. So that's a statement.
AUDIENCE: 40 trucks round trip.
MR. REDDY: Why don't we wait until the economic study comes back that says here's what
you're going to get and here's what it's going to cost. That's what we're trying to do is wait until
the studies come back and then we will have something to talk about with those facts.