Canadian Javelin Cache Traditional Cache
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A medium Lock n Lock hidden just down over the crest of the Julienne Peninsula, bit of a drive so a short walk depending on your vehicle.
J.R. Smallwood, the first Premier of Newfoundland, was always on the lookout for entrepreneurs and advisors who could help bring about his dream of economic diversification and prosperity. Perhaps the most colourful was John C. Doyle. Born in Chicago in 1915, Doyle went to western Canada as a coal salesman, moving east in 1949. He purchased Canadian Javelin Foundries and Machine Works, a Joliette, Québec, stove-making operation. The business was reorganized in 1951 as Canadian Javelin Limited, which Doyle used as a holding company for his subsequent ventures.
Doyle first became interested in Newfoundland’s resources in 1952. On his way to the province to collect a large coal debt, he met the provincial geologist. The latter told Doyle that a strip of iron-ore rich land around Wabush Lake in Labrador was about to revert to the government – or more accurately, to the Newfoundland and Labrador Corporation (NALCO), a development company created by the provincial government (and Alfred Valdmanis) in 1951. The area originally belonged to the Labrador Mining and Exploration Company, which shed it under an agreement that stipulated that 10 percent of the company’s concessions had to be relinquished every year.
In July 1953, NALCO granted concessions to Doyle and Javelin, which included the rights to a large area of western Labrador containing iron-ore rich deposits. From this point on the story is confused, but it appears that in September 1953, Doyle and Javelin acquired a controlling interest in NALCO, with six seats on the board. Valdmanis did his best to block Javelin taking over NALCO completely, but failed – even though Doyle was in financial difficulties and Javelin shares had been de-listed from the Montreal stock exchange. In the end, Smallwood sided with Doyle against Valdmanis, and in March 1954 the former received 2,400 square miles of prime NALCO holdings in central Labrador. NALCO was reorganized in such a way that most directors were to be provincial government nominees.
Doyle spent approximately $15 million surveying and drilling the area around Wabush Lake. He also commissioned American engineering expertise to improve the ore benefaction process, and brought about the consortium of international mining interests known as Wabush Mines. In the mid 1950s Doyle also built a railway connecting Wabush to the Québec North Shore and the Labrador Railway, but not without the Newfoundland government guaranteeing a $16.5 million bond issue enabling him to do so. The bond was never called in, but it was an issue that raised some strenuous objections in the House of Assembly.
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(Decrypt)
Bar va gur pyhzc sryy qbja.
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