Bs Cassiar Mining Shows Profit Cassiar Mining Corporation announced November 13th, that the first nine months of 1987 resulted in a profit of $529.000 compared to a restated loss of $1,399,000 for the correspounding period for 1986. The profit per share was $.03 as compared to a loss of $.23 for 1986. Sales revenue for the period was $40,052,000, a 10% increase over the revenue of $36,475,000 for the equivalent period in 1986. Cash generated from operations for the period ended September 30, 1987 was $8.1 million. Substan- tially all cash generated from operations has been or will be applied to payment of dividends and redemption of preferred shares of the subsidiary company in ac- cordance with its banking agreement, bringing the bal- ance outstanding under that agreement to $28.9 million. During September 983,000 flow-through shares were issued representing 60% of the total shares to be issued in connection with exploration work being carried out on the McDame deposit. The balance of 655,000 shares will be issued in December upon completion of the 1987 program. Substantial progress has been made. by Wright Engineers Limited in preparation of the feasibility study of the McDame project. It is anticipated that the final analysis and report will be completed by year-end. _ A feasibility study for the development of the 1 —-new reserves at the Company’s. gold project located at Bissett, Manitoba was completed by Kilborn Engineering (B.C.) Ltd. The study confirmed project viability.: Capi- ~* tal costs are estimated to be $11.2 million with average: production forecast: at 33,000 ounces gold per “year for the eight year projected life. Potential exists to extend the reserves. Development of the Bissett gold project is planned by the Corporation’s wholly owned subsidiary, Mandor Mining Corp. Mandor has filed a preliminary prospectus with securities commissions for a public offering of common shares. The underwriting has been delayed due to general stock market conditions. WE REMEMBER ee November i 11th Remenbrance The Day Service held in Cassiar was well attended, especially by the young people of the community. .The parade left the Arts and Cult- ural Centre at 10:45 and reached the memorial at eleven o'clock. Wreaths were laid by representa- tives of the Veterans, the R.C.M.P., the Cassiar Community Club, Locals 6536 and 8449 of the United Steel- workers, the Cassiar Mountain Lions Club, the Lioness Club and the Leos Club. ; Following the ceremony at the cenataph, Father Joseph LaVerge con- ducted a_ memorial _ service at the RECHOat Gn CAHSEE OES o Cassiar Couric the Voice of Cassiar Country DECEMBER 1987 15° SCHOOL BOARD ELECTION Maureen Bauer, Sherry Sethen, and Allan Studd at All Candidates Meeting DEASE LAKE GOLD MINE ROAD DENIED SMITHERS — The provincial. government has turned. ‘down, for the moment, a request to build a road to _a gold property 140km west of Dease Lake. tet North American Metals Corp. and Chevron Min- erals Ltd. were told last week that the suggested road route to the Golden Bear property has environmental problems, the mines ministry said last week. “The government is not entirely satisfied yet that the proposal is the best route yet chosen,” a spokes- man said. The developers, equal owners of the property, did receive approval-in-principle for the mine site but have been asked to make some design changes. One of those changes is to the proposed mine ’s tailings pond system, the ministry said. The developers had asked for approval-in-principle .for the mine and for the road based on a construction program to start next year. Skeena MLA Dave Parker, also the forests and lands minister, said the road proposal has to be modified but feels there should be no great problem. “The road’s not dead. There are some problems. There were four road routes at the beginning and the job is now to take the good parts of each route and combine them to make the best one,” he said. “All parties agree there should be a road - and that includes the Tahltan Tribal Council, but there is a soils problem and there are wildlife problems,” Parker said. They say they have proven sTeserves to sustain a mine life of five and a half years and are confident further drilling will extend the operating period another 10 to 20 years. An operation of 350 metric tonnes a day is plan- ned-with a payroll of approximately 100 people, 65-70 of whom would be working at any one time. The developers had changed the proposed route once already, before submitting their plan to the govern- ment, to take into account environmental considerations. That plan included an overpass to safeguard a moose migratory path and a gate and watchman to prevent unauthorized access to the road. The proposed route is through territory not now open to. vehicle traffic and had been criticized by en- vironmental and native groups. The developers have said they are prepared to reclaim the road and take out bridges at the end of the mine’s operating life. Golden Bear’s developers had also asked the government for a loan for half of the estimated $11 million it would take to contruct a road to the site. It would be paid back from mine revenues and payment begin on a schedule fixed to the price of gold. Provincial legislation does provide for a cancella- tion of SHAE if ES een floes ot, School Trustee Elections were held in’ School District #87, (Stikine) last week. Four Trustees were elect- ed. In Atlin, Michael Strange was re-elected by acclamation and in Lower Post, Yvonne Moon was re-elected by acclamation. In Telegraph Creek, Yvonne Tashoots defeated Patricia Frank and in Cassiar, Sherry Sethen defeated Allan Studd and Maureen Bauer. All ‘Trustees were elected for a 3 year tern, which begins December Ist, 1987% Telegraph Creek Results Yvonne Tashoots - 41 | Patricia Frank - 33 Cassiar Results Sherry Sethen - 96 Allan Studd - 64 Maureen Bauer - 27 Chief For A Day In conjunction with the Family Fire Drill held in October, a competi- tion for elementary school students was held. Chrissy Becket was the lucky winner when her name was drawn from approximately forty entries. Chrissy was named "Fire Chief for a Day" and enjoyed lunch with Cas- siar's Fire Chief, Gordon Becket. Chrissy also toured the fire hall and on behalf of all members of. the Volunteer Fire Department, reminds everyone to be extra careful during the holiday season. OUR APOLOGIES You will probably have that his .month's Courier has a different . format. Our composer snapped a belt about halfway through the’ paper. The machine is now in Vancouver and we hope to have it back for the next edition. noticed We are most grateful to Marlene at the Community Club for loaning us her new typewriter. At least with it we were able to align all margins. Thanks Marlene, you realy, dy did. us, one, AatGe, favour. “occur within five years. 06208 eo Ne MORN |