Cassiar Courier the Voice of Cassiar Country SEPTEMBER 1985 10 cents Keith Lanphear Appointed — School Superintendent Stikine School District No. 87 has a new superin- tendent. Keith Lanphear was appointed to the position effective August 15th following the resignation of Owen Corcoran. Corcoran, who has been in the district since 1980, has taken on the position of school superintendent in the Burns Lake District. Corcoran was the first superin- tendent of schools for the Stikine District. Prior to his arrival the Stikine was administered through the Fort Nelson School District. During his stay here Corcoran oversaw the origin of the first elected school board for the Stikine and the construction of three schools — Snowridge Elementary School in Cassiar, Atlin School and the Dease Lake School. School Board Chairperson Sherry Sethen said Keith Lanphear, who was the director of instruction for the Stikine District. was appointed as superintendent at a special meeting of the Board. She said when he was hired as director of instruction in 1984 it was with the intention that he be an understudy to Corcoran who had indicated he would be leaving the district sometime this year. Keith Lanphear Lanphear came to Cassiar in 1981 as vice principal of Cassiar Elementary/Secondary School. When Snow- ridge Elementary School was built he became principal of Cassiar Secondary School and then moved on to the school board office last year. Judith Knapp, of Inuvik, will aes Lanphear. Ms. Knapp is a teacher consultant in the North West Territories. She will begin working in the Stikine after Thanksgiving. School Board Chairperson Sherry Sethen said Ms. Knapp. will have the new title of Director of Curriculum and Instruction and will not be an assistant superinten- dent. The new director will be looking at the needs of the children in our district and will develop special pro- grams to suit those needs. Ms. Knapp also will deal directly with teachers in Cassiar and the rest of the district on curriculum devel- opment and instruction. Frank Buckley New College Board Rep Frank Buckley, Cassiar’s Town Administrator, has been appointed to the Board of Northern Lights College. The appointment is for an indefinite term. The Stikine region has not had a representative on the college Board since January, 1984. Tom O'Connor, Stikine region Administrator far Northern Lights College, said he is hoping to work closely with Mr. Buckley. One concern will be the development of funding mechanisms to allow the college to offer vocational courses in Cassiar. Mr. O’Connor now has his headquarters in Dease Lake. He will be visiting Cassiar one or two days each week. In Dease Lake he can be contacted through Gen- eral Delivery mail or by calling 771-5500. Recently 12 people from Iskut and Dease Lake graduated with Class | driving licenses and airbrakes endorsements. They took their exams in Terrace and earned unrestricted licenses. Also recently Mr. O’Connor met in Iskut with rep- resentatives of Gulf Canada Resources. Their discussions concerned possible training programs the college might offer local residents with the intention of providing them. with. skills EEE for employment at the Klappan *, s Continued on Page 12. New Top Appointments At Brinco The Board of Directors are pleased to announce that effective Aug- ust 1, 1985, Mr. J. Douglas Little has assumed the position of Acting President of Brinco Mining Limited. Mr. Little is a past president of Cassiar Resources and has been a director of Brinco Mining Limited for many years. Effective July 15, 1985, Mr. C. Alan Smith, president of Dorset Resources Ltd., was spose President and Chief Executive Officer of Brinco Limited. Brinco Limited announces net income for the first half of 1985 on an after-tax basis of $1,197,000. The comparable figure for 1984 was a profit of $7,873,000. Both 1985 and 1984 includes recoveries from insurance relating to product liability litigation costs. After-tax profit prior to giving effect to insurance recoveries for 1985 and 1984 was $797,000 and $4,094,000. The loss per share for the first half of 1985, after allowing for unpaid dividends on preferred shares was $0.04 per share compared to earnings of $0.35 for the first half of 1984. The reduction in net profit reflects reduced sales revenue for asbestos due to lower average sales price and lower sales volume. Asbestos fibre production approximated the 1984 production during the first half of 1985. Brinco Ltd. J. Douglas Little Announces _ Reorganization | Brinco Limited, a 71 percent owned subsidiary of Dorset Resources Ltd. (Dorset) has announced plans to effect a corporate reorganization to be completed later this year. The objectives of the proposal are: (1) to _ strengthen the financial position of the company, (2) to ‘increase the assets of its oil and gas subsidiary, Brinco — Oil and Gas Limited and (3) to have the shares of its subsidiary, Brinco Mining Limited, listed on the Toronto Stock Exchange with a majority of its shares to be dis- tributed to and held directly by the existing Brinco Lim- ited and Dorset shareholders. The carrying out of the reorganization will require the cooperation of the shareholders of Brinco Limited, the company’s bankers and Revenue Canada, Taxation. It is the view of the company that the proposed reorgan- ization will be in the best interests of all of these parties. The reorganization proposed will involve four distinct steps. The first is the conversion of $47 million of bank debt owed by Brinco Limited’s wholly-owned subsidiary, Brinco Mining Limited, into preferred shares. The shares will be issued upon completion of all legal documentation including receipt of a confirmation of a Revenue Canada tax ruling which is expected imminently. The cash flow of Brinco Mining Limited will continue to be dedicated ~ to the amortization of its obligations to the bank. The second step, which will require the approval of holders of the Brinco Limited 7 percent preferred shares Series A, the 8 percent shares Series C and common shareholders, calls for the preferred shares, together with the accumulated dividend payments of $10.78 million which have been in arrears for 11 quarters, to be ex- changed for Brinco Limited common shares. A leading Canadian investment advisor has been retained to advise Brinco~ Limited on the exchange ratio and to provide a fairness opinion to Brinco Limited shareholders. To accomplish the third step in reorganization, the shareholders of Brinco Limited will be asked to approve a prorata partial spin-off of Brinco Mining Limited units consisting of common shares of Brinco Mining Limited and warrants for either ordinary or flow-through common shares of Brinco Mining Limited. McDame Adit Progressing Well Work on the exploration adit into the McDame deposit is progressing on schedule. Cassiar Mine Manager Keith Jones said the adit, which will give additional ‘information on the asbestos deposit, had advanced 747 metres by mid-August. He said the advance is going very well and the work is within the $2 million budget allocated for the project this year. Jones also said four staff members at Cassiar have been laid off effective the end of September. He said the company was overstaffed arid the move is a cut-back measure. No other layoffs are foreseen in the near future. Sere ene > A 5 anes Y, see, > VAR a OS ny Yer Sea It is anticipated that the warrants would expire in the spring of 1986. The units of Brinco Mining Limited will be distributed to all common shareholders of both Brinco Limited and Dorset. Applications will be made to list the Brinco Mining Limited _common shares on the “Toronto Stock Exchange. The final step of the reorganization will involve a transfer of the oil and gas properties presently owned by Dorset to Brinco Oi] and Gas Limited for treasury shares of Brinco Limited. The approval of both the Brinco Limited and Dorset shareholders will be required, as well as the concurrence of the Toronto Stock Exchange. The Canadian investment adviser has also been retained to advise on the acquisition of the oil and gas properties of Dorset and to provide fairness opinion to Brinco Limited shareholders. It is expected that the proposed reorganization will have several positive results. There should be a significant improvement in the consolidated financial position of both Brinco Limited and Brinco Mining Limited. Upon completion of the reorganization, Brinco Limited share- holders will own common shares in each of these cor- porate entities and warrants to acquire further Brinco Mining Limited shares either by purchase or on a flow- through basis. The assets of Brinco Mining Limited comprise the Cassiar Mine, the McDame deposit near Cassiar, the San Antonio Gold Mine in Manitoba and other various mining interests principally in Newfoundland, British Columbia and the Yukon. Funds which will be generated through the exercise of warrants for Brinco Mining Limited flow- through shares will finance continued development of its McDame deposit which is located nearby the present Cassiar mining operation and other Brinco Mining Limited properties. The proposed combination of the oil and gas operations of Brinco Oil and Gas Limited and Dorset will provide administrative economies and a stronger cash flow base to continue an aggressive oil and gas exploration program. The strength of the Dorset holding in Brinco Limited will permit Brinco Limited to be more acquisition oriented in future- Two Boys Killed In Telegraph Creek Two 13-year-old boys were killed in Telegraph Creek on July 28, 1985, when the motorcycle they were riding collided with a truck. Gary Marion and Richard Quock, both of Telegraph Creek, were apparently riding a motorcycle on the wrong side of the road when they came around a blind corner and collided with a truck driven by Calvin Marion of Good Hope Lake, a cousin of one of the boys. No charges have been jaid against the truck driver. The accident occurred on the Glenora Road in Tele- graph Creek. aeery. was the son of Mr. and Mrs. Allan Marion. pind era) ah ig gt oF wav at ge f