Page A8 — Terrace Standard, Wednesday, May 13, 1992 USINESS REVIEW pand hours next month. SPRING MEANS the start of another season at the chamber of commerce’s tourist information building on Hwy16. Tracey ‘Carey began work last week and has alraady helped out visitars from France, Switzerland, Germany and the United } States. The building is open Mondays to Fridays but will ex- again —_ AND — TERRACE - Time is running out to year’s getDi come pusindss execu- live of the year. ‘The deadline is this Friday so the patiel of judges can deliberate over the nominations in time for next month’s announcement. The executive of the year is chosen on the basis of business success and ‘community involve- ment: - _ The announcement and ac- companying roast will take place June 20 when the new chamber executive is installed. - More information on how to nominate someone for the busi- ness executive of the year is available at the chamber office. kkk There’s a new maternity and small: children’s clothing sore in towne “'¥ou ‘n’ Me Baby is located on S the Lakelse Ave. side of the Til- “Jicum: Building in the former location of The Reading Place. “Owner Barb Johnson said she - > got the Idea earlier this year be- "CAUSE 5 she wanted ta provide morc ofa’ variety of maternity and small children’s wear. ’ Tn addition to herself, Johnson has.a part time employee at the store, .. The store also provides a nurs- ing station and a changing station for those who need it he Jinn Mantel is president, Gord Credit Union’s annual general meeting May 5. New directors on the board are Don Krause, Rob Greenwood and Tom Walker. There terms are three years. Retuming, as director is Keith Amold-Smith. Thal’s for a one year term. doth kk Seasonal runoff into B.C. Hydro reservoirs is expected to exceed the lang term average by six per cent, say corporation offi- cials. That means there'll be less reliance on Alcan and other sup- pliers as a source of electricity. And, runoff is less than normal in the American Pacific north- west. This opens the market to. B.C. Hydro to sell more electricity in those states. kk kkk Chamber of commerce exccu- tive elections take place June 11, A nominating committee is working on collecting names of people interested in becoming directors or executive members of the organization. Installations takes place June 20, the same night that the busi- ness executive of the’ year for 1992 is announced. ‘Winner in Dare Food’s 25th Anniversary Contest |. ANNE _ FRANZMANN - of Terrace -feceives her $300 battery operated truck from - Conrad Caevero, Grocery Manager at your Terrace Safeway Store. “CONGRATULATIONS From Safeway/Dare Foods $40 million needed Mine sale could happen TERRACE -- Black Swan Gold Mines Ltd. has to come up with neatly $40 million if it wants to buy and then open the closed as- bestos mine in Cassiar, its presi- dent said last weck. Arthur Fisher said the money’s needed before his company and the receiver for Cassiar appear before the B.C. Supreme Court July 17 for approval. Black Swan announced last week thal it has a conditional agreement through a wholly- owned subsidiary with Cassiar receiver Arthur Anderson and Company to buy the mine and townsite. Cassiar Mining Corporation went into receivership and the mine closed in February when the provincial government refused to give the company $13 million to help Keep it open, The province already had in- vested $20 million into the com- pany and given a loan guarantee for another $5 million. "The amount we have to reach approaches $40 million. That’s | going to require a fair amount of work," Fisher said last week. The sale of two gold mincs in Australia over the past year have given the company some capital bul not to the extent required for the Cassiar purchase, he said. "We believe we can do it. Every day that passes makes our case stronger," Fisher added. Fisher said Black Swan must also mect governmental regulatory approvals and have suilable workforce conditions with its employees before the deal can be closed, He predicted a full start up by FD Fairmont ; Designs Terrace: Prince Rupert: Prince George: 4730 Keith Ave. 635-4111 124 3rd Ave. W. 627-4800 4310 Versatile Pl. 564-2700 this October’ employing more than 300 people should the money be found and the deal ap- proved in July. Getting the mine ready to pro- duce again could require two to two and a half months, said Fisher. - "We have a good ore body and: a good work force," he said. "We would have a lesser debt load and less pressure to produce quickly than they did," said Fisher in commenting om the last days of Cassiar Mining Corpora- tion. That company switched from an when it needs money. Io Banque offre nes services dans les deux , langues afficielles. TENN CA Mon-Wed & Thurs & Fri: Sunday: every business, large or small, buy a building or a business, or to simply in- crease its working capital. The Federal Business Development open pit to an underground opera- tion several years ago but ac- cumulated debts of more than $50 million in the process. Fisher said Black Swan would have the benefit of all that invest- ment. He said the market for Cassiar asbestos remains strong because the demand hasn’t been satisfied by other mincs. ; And he said the company doesn’t expect nor will it require provincial money to help with the purchase. "We have a mutual respect in this regard," said Fisher. Sometimes a small business needs cold cash There comes a time in the life of | Bank can help your small business To = | Branch name and address: Contact name and title: Paul Willlams, Manager Talaphone number: 635-4961 COMMITTED TO YOUR SUCCESS ® Federal Business & KLAUSSNER Open to the public: Sat: 10 am - 6 pm 10 am - 9 pm Closed with a variety of financial " switched to fixed rates for a” small charge. For a warm recep- | tion, call us today. Banque fadérale Development Bank de dévelappement PEEL SEMA Black Swan was one of three companies lo express an interest in the Cassiar purchase. Linda McGill, a Cassiar school trustee, said residents there are optimistic at the news. "We've been cautioned by the government that this isn’t a final deal yet. But there’s been “so much stress and no hope for several months we can’t help but hope this will go through,” Said McGill. In a letter to Cassiar residents last week, forests minister Dan Miller said the province will shut down the town as planned should the deal fall through. Canad BAUHAUS Selection of Famous Brand Name Furniture & Mattresses for overy room in your home at major savings. oe No used furniture. Only famous brand namo furniture & mattresses at huge savings.