Mr. Chairman, the sawmill fired up this year for the first time on February 17, 1993. I think it cut 117,000 board feet in the first week. We anticipate achieving 133,000 board feet a week once the mill is up and all of the bugs are worked out. It has just started this year. The price of lumber has skyrocketed. The price of lumber in some cases is almost $590 a 1,000. When we were forced to buy the sawmill the price of lumber was probably down around $225 a 1,000 board feet. It should not lose money this year. It did fairly well last year. I think it broke even compared to what we had anticipated that it would do. This year we would anticipate it to make money, particularly if the price of lumber stays up. We have expanded into Fort Resolution. There are logs being delivered to the mill from Fort Resolution this year. Providence has expressed an interest in doing some logging and delivering logs to the sawmill. We are also actively looking at making an arrangement with Fort Resolution whereby Patterson Enterprises Ltd. would take over the sawmill in Fort Resolution and make use of some of the wood from there to fulfil some orders that we certainly see in the south. There has been a big demand for lumber. The final part is that two companies have come forward and asked to look at the books, appraised value and other details of the Patterson Sawmill with a view to perhaps purchasing it. This is as much as I can remember right now, Mr. Chairman. Thank you.
John Pollard on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 23rd, 1993. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 23rd, 1993
Page 591
John Pollard Hay River
See context to find out what was said next.