United Keno Hill, UKH, Toronto**** Opportunity Knocks! Message Board

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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!

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To: Bruce who wrote (664)	12/12/1997 2:15:00 PM
From: Donald McRobb	Read Replies (1) of 1348

7:20 Interview with Rob McIntyre re United Keno Hill Mine CBC 7:30 A.M. NEWS FRIDAY, DECEMBER 12, 1997 1. Creditors and employees of the United Keno Hill Mines are hoping yesterday's announcement of a merger jump start the operation in Elsa. Just a few days ago the mine was facing the prospect of having its power shut off over unpaid bills. Now a merger with NDU Resources could mean an investment of $20 million dollars in the moth balled silver mine. (Brian Boyle) Bernie Walter is one of the six employees left at the mine in Elsa. He's been working through the tough times, keeping contaminated mine waste from getting into the environment. At times he didn't even get a regular pay cheque but he says he stuck it out because he believes in the future of the operation. (Walter) "You know Yukoners don't give up so easy. That's why I like to see this company get off the ground again because it's good for the economy. It's good for the people in the area. It's good for the native people who have some interest in this whole thing, in the future, and it's good for everybody." NDU Resources says it wants to reopen the mine in partnership with United Keno, possibly as early as this spring. But in the meantime, company vice-president Doug Goss is hoping United Keno Hill's creditors will be patient. (Goss) "Well, I'm sure they're in no worse position than they were and when we got into this game and so from that standpoint our thought is that they have nothing to lose and everything to gain." Currently United Keno is facing more than a million dollars in lawsuits and miners' liens from its creditors. Goss says the best bet for them to collect is for them to wait until the mine goes back into production. Shareholders and stock market regulators still have to approve the deal before NDU pumps any cash into the operation.

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