Effective August Ist 1980, Cassiar Asbestos Corporation Limited changed its name to Cassiar Resources Limited. The name change reflects Cassiar’s intention to expand its current Asbestos interests into metals and other minerals. As reported recently in this paper, Cassiar’s exploration program is active in B.C. and the Yukon areas. In a separate announcement on August Sth, Brinco Ltd., a well known company with interests in oil, gas, mining and power generation, announced that it has reached an agreement in principle with certain major shareholders of Cassiar Resources Ltd. whereby Brinco will obtain an op- tion to acquire their shares at a price of $16 Canadian per share. The companies involved are Turner & Newall Ltd.; J.H. Industries (U.K.) Ltd, (both of the United Kingdom) and Newmont Mining Corporation and Raybestos Man- hattan Inc. (of the U.S.A.) who together hold approxi- mately 59% of Cassiar’s shares. The option will require Brinco to make an equivalent gen- eral offer to all other Cassiar shareholders, and is contin- gent upon Brinco receiving an opinion under the Foreign Investment Review Act that as a result of its present neg- otiations it will become a Canadian controlled company. WHAT NEXT? Rain! Rain! Rain! will it ever stop??? This seems to be the theme for July. The continuous rains not only shortened the forest fire season but have also shortened summer work projects ’ throughout Cassiar Country. Good Hope Lake area received over 6 inches of rain this past month. Highway #37 in the Dease Lake District suffered traffic disruptions due to accidents and washouts. A bridge in the Bob Quinn Lake area was damaged when hit by a large truck which was in collision with a road ‘grader on the—bridge approaches. Highways® crews worked round the clock to repair the bridge and get the ; traffic back to normul. A slide of over 10,000 cubic yards of material took out a portion of Highway 37, 25 miles north of Dease Lake. Highways’ crews have constructed a detour around this area and are presently hauling in rock from a quarry for a base to construct a new road bed to replace that which was lost-in the slide. Construction continues on schedule along Highway “37 despite all the rain. Joe Reid’s Hill area is on schedule and is expected to be completed early this fall. —_ Seal coating crews are running behind schedule due to rain but, expect to be finished in this area some time in August. The air strip at Dease Lake is really taking shape and is. expected to be completed on schedule. On the local scene quite a few people, both Cassiarites and tourists found themselves inconvenienced when a bridge at Quartz-Creek, on the Cassiar extension of High- way”37 collapsed under the weight of a heavy truck. There were no injuries. A temporary bridge was quickly installed by highways crews, allowing traffic through.” Presently a bailey bridge is being constructed at»Quartz Rock Creek. This structure is temporary as a large multi- plate (culvert) is planned for the creek this fall. Highways crews have worked diligently to keep the roads open and traffic flowing normally during these crises. : Thank you to the motoring public for your co-operation during these disruptions. HAPPY MOTORING — DRIVE DEFENSIVELY by George Holman Cassiar Courier the Voice of Cassiar Country AUGUST 1980 CHANGES AT CASSIAR 10 cents These negotiations would result in Olympia & York De- velopments Ltd. of Toronto, a large real estate and invest- ment company, becoming the controlling shareholders of Brinco owning approximately 50.1% of Brinco’s voting share capital. This would raise the Canadian ownership of Brinco from the present 29% to approximately 74% with Tinto Holdings (a Rio Tinto Zinc subsidiary) retaining 23% interest. The finalization of the above negotiations and the re- quired approval by the Foreign Investment Review Ag- ency are expected to take several months.