I am writing regarding your article Province, resort supporters flying to France in The Pioneers February 3rd edition. For many years, people in the valley have been saying that the proposed Jumbo Glacier Resort would never become a reality because no one would be willing to invest many millions of dollars in such a venture.
Oberto Oberti, the Jumbo Glacier Resort promoter, has always tried to give the impression that he had rich investors willing to stand behind him. Now, because of this trip to France, the truth is starting to come out. I have always suspected he never really had any serious financing and now with this trip, my suspicions appear to be justified.
In 1999, the Iris/Sno Engineering economic feasibility report, partly financed by the B.C. Government, was very negative about the Jumbo Glacier Resort proposal. Not once during the past 13 years have I ever heard Mr. Oberti defend his proposal against this report. As for the government, it spent $60,000 of taxpayers money to produce the report, then swept it under the rug.
The Schaffer Economic Report, commissioned by the Ktunaxa First Nation and released in May 2011, is also very negative about Jumbo Glacier Resort.
Not only does Mr. Oberti have to convince prospective investors that these economic reports are unimportant, he will have to convince them that the people of Kootenays are also unimportant. He has a very, very difficult task ahead of him.