Page A12 — Terrace Standard, Wednesday, April 17, 199 Potluck delight THERE WAS lots of food April 6 as the local multicultural association held its annual potluck supper in the arena ban- quet room. That’s Jean Limin cutting a cake. She was one of many volunteers who made the evening enjoyable. Mining company hopes to dump $18 million debt — TERRACE — Westmin Resources will became the sole owner.of the Premier gold mine in Stewart if a debt forgiveness plan is approved. Pionser Metals of Vancouver now owns 40 per cent of the mine but can’t pay Westmin, which owns the other 60 per cent, a debt of more than $18 million. That debt would be eliminated if the deal is approv- ed. Approval is needed by Pioneer’s major creditor ta clear the debt off its books and follows cash flows problems ex- pétienced by the company... “Pjoneer’s ability to’ pay its : share of the Premier develop- ment costs was hampered when the project cost more than ex- pected. The mine opened in 1988 at a cost of nearly $95 million. It didn’t make money in 1989 or last year, bringing total development costs to nearly $120 million. Say no to liquids, powders, skimping and starving. Westmin spokesman Bruce McKnight said: his company has already written off the debt ow- ed to it by Pioneer Metals. “We're going to eat it, The amount is down to zero and we're not counting on it,’ he said. Pioneer Metals acquired the 40 per cent from the Silbak company when it amalgamated its interests. Pioneer would still receive a one percent net return from ore smelted from the Premier pro- perty and five per cent of net profits from the property. This is the second time a com- pany has turned over its share in the property to: Westmin in ek- Earlier Canacord Resources turned over its 9 per cent share. khkkkk And while that’s going on, Westmin expects to begin min- ing a nearby property later this spring. The Tenajon property will provide ore for the Premier mill REGISTRATION SAVE $18," "inaicsi Say yes to real, delicious food morning, noon and night. (includes G.S.T.) To bring Weight Watchers to your workplace, Call 1-800-663-3354. re iced moe Avritecinene Lick repisierad user. Al rights miaerved Join by April 27th at these canvenient times-and locations: An n of the West : 4620 Lakelse Ave - Vien and) iarCar cpp menaroan