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Crime in the community this week: page 4. Editorial: page 6)

i ; . W@gighabive hibrary, 0 0 ‘WEDNESDAY, December 18, 1991

Rarliamenk Bui lcdinas oo ; Vol. 7, Issue No. 51.

Vierboria Bui. .

Phone 635-7840
635-7269

- Serving the communities of Terrace, Thornhill, Usk, Cedarvale, Kitwanga, Meziadin, Stewart and the Nass Valley 75 cents plus GST

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Corona vows
to go ahead on
feasibility .

PLACER DOME, THE
Vancouver-based gold min-
ing giant, announced Mon-
day it won’t invest. in
Eskay Creek, the spectacu-
lar gold strike in the Iskut
River Valley that sparked.

| Placer says ‘no’ to Northwest gold mine

Northwest.

in September Placer agreed to
examine a proposed agreement
with International Corona, the
primary stake holder in Eskay,
to invest $240 million to build a
mine in return for 50 percent
ownership of the strike. The
company completed its due
diligence study Dec. 16 and
announced that the return from
the mine wouldn’t be enough to
"satisfy Placer Dome’s financial
objectives".

It appears that the viability of
the mine has not been seriously
affected by Placer’s move. Inter-
national Corona announced in
response that it will commit $10
million immediately to launch a
—— — . — feasibility study on the mine, to
HOMELESS FOR THE HOLIDAYS. A propane however, snould not cause users of propane undue be completed tuiniex eevee. of
explosion which caused extensive damage to this mobile concern. The fire department says propane is a safe fuel I shareholder arrangements, Placer
home in the North Kalum Trailer Court Saturday night was if used properly and treated with respect. No one WaS ff atrcady holds a 22 percent share
described by neighbours as a "loud bang". The incident, injured in this explosion. _in Eskay through its control ‘of

shares in Stikine Resources.

Corona has the option to acquire

School trustees get those shares for $105 million

5 . before Sept, 30, 1992. If Corona

committee assignments fails to exercise that option, then

Edna Cooper, re-elected chairman of the School District 88 a merger will be sought between
board of trustees last week, announced Monday the board’s Stikine and Prime Resources, the
committee structure for the coming year. company through which Corona

Cooper said all trustees will now sit on the board’s Education holds its interest in Eskay. If
and Personnel Committee, with Siew Christensen as chairman. that fails Placer then will have

That committee will also double as Committee of the Whole. the right to dispose of its Stikine
Wayne Braid, elected vice-chairman of the board, will return as shares through a secondary stock
head of the Facilities Committee and Stewart trustec Kirsten offering.
Chapman will again be chairman of the Contract Management Under the agreement it appears
Committee. Laurie Mitchell has been appointed head of the that Placer will get out of Eskay
Finance Committee and Hazelton trustee Mary Spooner is chair- no matter what by the end of
man of the Policy Committee. 1992.

At the Dec. 10 meeting the board resolved to send a formal Corona president Peter Steen

request to the Minister of Education for an appointment to fill said the company is disappointed
the vacant trustee seats for the villages of Kitwancool, Kitwanga that Placer won’t be involved in

and Kitseguecla, No nominations were entered for that seat in
the November election. | — Continued on page 32

an exploratioa. boom in the ©