Aa - The Terrace Standard, Wednesday, June 5, 1996 ~ BUSINESS REVIEW ‘@ Pouring it on THE WORK Is progressing quickly on the $1.5 million expansion and renovation of Terrace Totem Ford's car dealership. Concrete founda- tions have been poured and work was underway on the main walls last week. The addition adds 11,000 square feet, About Repap posts loss A RISE in pulp prices this year is what Repap Enter- prises chairman George Petty is predicting. Prices bottomed out at about US $500 a tonne in March, down from $1,000 a tonne last October, The price collapse contributed to Repap’s $36.5 million loss in the first quarter of 1996. The company made a record $140-million profit last year, a turnaround from its $690 million in accumulated losses in the three years pre- vious. Petty told the firm’s annual general meeting last Thurs- day that pulp prices will rebound to the $600 level this year, and that the glut of world inventory is nearly ex- hausted. New Repap president Stephen Larson says the company will compensate for the low prices with reduced capital Spending, and up to $100 million in other cost culting. Repap is also renewing its request for government ap- proval to buy Orenda Forest Products, That decision had been delayed by the B.C. election. Full fare rates jacked THE PRICE of a full fare ight iv Vancouver has taken another bump up. Travellers who don’t book well in advance or take ad- vantage of a seat sale will now have to pay $741.45 includ- ing all taxes, That’s up from $727.21, Teaming up for success TERRACE IS one of two smaller cities in the province chosen to take part in a pilot program aimed at helping small businesses, The Business Success Team concept will bring together 22 non-competing small businesses to receive advice, in- formation and guidance from bankers, lawyers and ac- countants and other professionals every two weeks. It’s being organized in Terrace by 16-37 Community Futures with sponsorship by Alcan, B,C, Hydro and the Bank of Montreal. The law firm of Talstra and Company and the accounting firm of Carlyle, Shepherd and Company are also taking part, Terrace and Vernon were chosen because cach place is growing but with different economic bases. More information is available by calling 16-37 Com- munity Futures at 635-5449, The plan is to start the ses- sions by mid-July. Huckleberry mine is ago Open pit to produce in 1997 THE HUCKLEBERRY MINE will be built. Anticipated for months now, a formal decision for an open-pit copper mine south of Houston was announced after Princeton Mining Corporation and a Japanese con- sortium inked a partnership agreement last week, The agreement created a board of directors for the opera- ting company — Huckleberry Mines Ltd. — with repre- sentatives from Princeton and its Japanese partners, Mit- subishi Materials Corporation, Dowa Mining Co, Ltd., Fukurawa Co. Lid,, and Marubeni Corp. That new board made the decision to proceed with production. Under the partnership, the four Japanese companies wil! arrange a $US 60-million loan, buy a 40-per-cent stake in the mine and purchase copper concentrate. ; In return, Princeton must come up with $17 million as its share of start-up costs, Originally, Princeton was to have come up with the cash as a condition of the deal, but last week’s agreement changed that, “In order to allow things to proceed in a timely fashion, the agreement has been amended to allow for things to proceed without the full Princeton commitment being in place, That financing is ongoing,”’ said project manager Peter Campbell. “The gist of it is the Japanese are putting their funds in at this point and we can draw accordingly (to pay for development).”’ A $15-million infrastructure Joan from the province to pay for a hydro line and road development has apparently been approved, Princeton shareholders recently approved a controverisal special resolution allowing a private placement of up to $25 million —- and up to 100 per cent dilution of common stack — to pay for its share of start-up cosis for Huck- leberry. Some small shareholders said the move cuts them out of the financing and could hurt the share price. They had wanted an offering to existing sharcholders. The private placement came after other attempts to raise capital fell through. A bridge financing deal through a New York firm collapsed, as did a proposed merger with Azco Mining Inc. That left Princeton little choice but to go the private placement route in order to raise cash quickly. “Realistically, allowing Princeton to go ahead with the financing is the best thing for the shareholders. By doing thal you’re allowing the project to go ahead,’ he said. Delays in the approval process, a fegal challenge by Cheslatta natives, and threats the Japanese might pull out hammered Priaceton stock to a low of 29 cents eartier this year. Last week the stock closed in the 48-cent range. The Huckleberry project is expected to be completed sometime next fall at a cost of $137 million, with produc- tion schedvled to commence in the third quarter of 1997. Campbell said concentrate will be shipped through Prince Rupert, The concentrate will be prepared on site and hauled by B-train truck to the port eight times a day. Annual output is projected at up to 70 million pounds of copper with 1.25-million pounds of molybdenum as a by- product, The copper concentrate is expected to contain 6,000 ounces of gold and 270,000 ounces of silver, Injuries Stop Here. Adjust Your Head Rest and Buckle Up. goad a What you see over there, you can... >... TEST DRIVE } Bees right here: Terrace Chrysler Ltd. , 4916 Hwy 16, Terrace ¢ 635-7187 1-800-313-7187 || BUSINESS TO BUSINESS If Directory of Services | www. kermode.net = email + internet access * web pages * training war K — Peas rs Terrace's only logallt ned full service internet provider. RGS Internet Services 4722 Lakelse Ave. 1} Ph: 635-3444 Fax: 635-9727 email: sales@kermode.net » Chapman Office Products * Office Equipment * Business Machines * Sales, Service & Repairs * Stationery © Office Furniture * Fox Supplies We can assist you with all your office and Business supplies Voice (604) 635-9261 Fax (604) 635-9219 eA Desktop Publishing by Lee Burkitt ( Ue Phone 638-0877 (, Y, ) Compiter Turing / Sight Owl 7 Business image Design * Smail Volume Publishing ¢ Print Design Dylcan Crane Setvice Ph: 635-0227 20Ton P&H Omega 4 wheel drive Truss rack to install up to ten trusses each lift | ‘Tree removal 7 days per week/24 hours per day Help the Terrace and District Chamber of Commerce recognize excellence in the business community — fill in these ballots and [] ~~ return them to the address indicated at the bottom. rss swe ewe eee eee eee ee CONTRIBUTOR TO THE ARTS (Sponsored by Skeena Broadcasters) 1 j 2, The business executive should have demonstrated a community I minded approach and have supported local events/groups/sports _ teams or have some involvement with local service clubs or business 1 associations. FO 3, There should be some evidence of strengths in financial planning, ' marketing, production and human resourcé planning. 1 4. The business should portray a good corporate image and relate well i with business peers. . >. Future prospects for the business should be promising. NAME: BUSINESS: BECAUSE: 7 HONOUR THE BEST IN ~ BUSINESS BUSINESS EXECUTIVE OF THE YEAR , (Sponsored by Scotia Bank) \ I It should be clear that innovative and imaginative management has y been responsible for the sticcess of the business. i STUDENT OF THE YEAR DOUG SMITH ! (Sponsored by A&W , CUSTOMER SERVICE AWARD ; Restaurants of Terrace) 1 (Sponsored by Terrace \ i | & District Chamber of , This award will be presented to a 1 Commerce) I | student who has demonstrated excellence in five majorareas.The award will be presented to the nominee who best satisfies the criteria. 1 Has a business or conipany pane * Overall good altitude 1 that extra mile for you? SCHOOL: T NAME: Please return ballots by June 10, 1996 to: TERRACE & DISTRICT CHAMBER OF COMMERCE } I I i] I =| Jt I I t i ROK 107, TERRACE, H.C. V8G 4A2Z ! a ' Terrace and District Chamber of 1 F Commerce Honors a company or | ! business for outstanding 4 1 customer service. I I ; 1 Have you ever been “wowed" by 1 2 local business or company? Academic Achievement Ontstanding achievement? in athletic on cultural acttuities Contribution to school affairs and Participation in comnuietlty activities WAS PROVIDED EXCELLENT COMMENTS: ! CUSTOMER SERVICE BY. aspect of the arts in our community. I NAME:__ BUSINESS: : BECAUSE: Please return ballots by June 10, 1996 to: TERRACE & DISTRICT CHAMBER OF COMMERCE BOK 107, TERRACE, B.C. VBG JA2 Please return ballots by June 10, 1996 to: TERRACE & DISTRICT CHAMBER OF COMMERCE | i I i | I t I I i I | I ; I extracurricilar activities I I ! i i J I L} J I I t ] I BOX 107, TERRACE, H.C. V8G 4A2 I Please return ballots by June 10, 1996 ta: TERRACE & DISTRICT CHAMBER OF COMMERCE BOX 107, TERRACE, H.C. VAG -iA2 | L COMPANY OF THE YEAR , (Sponsored by Business Development Bank of Canada) I I Nominees must have demonstrated excellence in one or all of the 4 following arcas: sales, growth, product development, profitability, job 4 creation, environmental enhancement, labour/management relations, - | safety, quality of product or service. Nominee must have a permanent 4 physical presence in Terrace and area. I I NAME: i BUSINESS: i BECAUSE: ' t | 5 Please return ballots by June 10, 1996 to: i TERRACE & DISTRICT CHAMBER OF COMMERCE i HOX 107. TERRACE, B.C, V8G 4A2 1 =——re ee me ie ee I Terrace & District Chamber of Commerce BOX 107, TERRACE, B.C. V8G 4A2 , = ce see” ee Se, Sc Pe t