Webique and Cyr Drilling to benefit from venture

With a huge opportunity for both parties, the Webique First Nations and Cyr Drilling International have united in their goal for prosperity.
It's a unique coupling that offers Cyr Drilling access to the land, and Webique potential to become major players in the drilling milieu.
But perhaps what is most intriguing is that this a is story that strays away from the norm of First Nations fighting with big businesses.
Webique First Nations is a small community situated in northern Ontario, roughly 520 kilometers north of Thunder Bay. With a population of 647 and no summer road access, opportunity doesn't come knocking very often. But that all changed when Chief Scott Jacob was approached by an investor from Toronto.
The impromptu meeting could not have come at a better time.
"We've been actively seeking strategic and willing business partners to increase employment and training prospects for our people," admitted Jacobs.
Cyr Drilling International is a mid-sized international drilling company partnered with Ian Brodie-Brown and several private investors to create a company known as Cyr Drilling Ontario. The company was formed to take advantage of new discoveries made in the James Bay Lowlands, which happen to be the traditional lands of the Webique First Nations.
After quick negotiations, a partnership was born. It is a partnership with massive potential for the Webique.
"When our investor group was first looking at it as a business opportunity, one of our investors had a chance meeting with the chief of the Webique, Scott Jacobs. In those discussions it was talked about to see if the First Nations were looking to branch into the service providing industry within the mineral resource sector."
"Our investor came back and talked to us, we took it to the board and discussed it and it made good business sense. So we sold 20 per cent of the new venture to the First Nation Webique, and they have the right in five years to buy the remaining 80 per cent, once they're trained. So really in a nutshell, they have the available workforce and the willingness to participate. So that led to our partnership with the Webique," explained Brodie-Brown.
Jacobs also explained his motivation and interest to join as beneficial to his community.
"Actually we've been attending a lot of the mineral activity workshops and there was interest in our membership that this was a possible opportunity to pursue a diamond drilling career because we've heard that the average age of a diamond driller is 55-years old and there's going to be a shortage of people in that particular area."
"This was an idea from a few years ago, and I guess that's one of the reasons why we were able to get this deal done so quickly after, when we were approached by investors from Toronto and Cyr Drilling International. We had already talked about this for a couple of years."
Negotiations, from start to finish, only took approximately eight weeks and Brodie-Brown believed it showed willingness by both parties.
"With our participation, from the financial side and the expertise that Cyr Drilling International brings on the training side, and Webique's local knowledge and understanding of what it takes to run a company in northern Ontario, and their available labour force, we're very pleased. We see it as a win win situation, which we hope will become a model for future private sector companies wanting to partner with First Nations." Brodie-Brown stated.
After years of losing with the government, a "win win situation" was something that Jacobs was relieved to hear.
"The unemployment rate is so high, and we have to look at other areas in terms of trying to give hope to our members and to look forward to the future as well, because we've talked to a lot of our Elders from the community and there's something that they have mandated us to pursue. Trying for securities and look for training opportunities for the young people, because I think we haven't gotten anywhere with the governments over the last hundred years in our area so we got to start thinking of the future of our communities."
With a reported 95 per cent unemployment rate, Brodie-Brown declared that was one of the main reasons for creating this partnership.
"We see the James Bay Lowlands as a very explosive area in the exploration business due to some significant discoveries over the past 11 months and the work force is right there. There is the Webique, and there are other First Nations bands that are where we could draw employment from, and it gives the opportunity for a self-sustained corporation when the Webique buys 100 per cent of the company."
Brodie-Brown also proclaimed that the proverbial gravy train would not stop at this particular expedition.
"If this area were to diminish, they would be trained and able to take their skills anywhere in Ontario, Canada, or in fact the world as Canadian drillers are known as the best at what we do."
In a press release, the president of Cyr Drilling International, Gordon Cyr announced that they have been very impressed by the proactive and open approach of the Webique First Nation to do business, build partnerships and develop training and jobs for their people.
"We can't afford to be waiting for things to fall out of the sky and land before you. You've got to be able to pursue and try and capture some of these opportunities," Jacob said.
With a large percentage of companies going head to head with First Nation groups, Webique and Cyr Drilling are certainly walking the road less traveled.