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Business Briefs Guy Quenneville Monday, October 27, 2008 Previous columns 
Jericho's future uncertain The company taking over the reins of the Jericho Diamond Mine southwest of Bathurst Inlet is keeping mum on its plans for the project until its deal with former owner Tahera Diamond Corporation goes through. Hunter Dickinson Inc., a Vancouver-based mining development group, did admit the state of the economy might play a hand in its decision. "A lot of things are happening globally that would either push us in one direction or another," said Wallace. "If the environment for equity financing would change, then obviously we might do different things than if that doesn't (change)." "Hopefully we'll close before year-end," Tahera president Peter Gillin said of the deal. Frobisher looking to help the needy The Frobisher Inn in Iqaluit is planning an event to raise money for children in need come Christmastime. The hotel will host a Halloween party at its Storehouse Bar and Grill, issuing a cover charge. The hotel will also ask for donations between then and the second week of December. "It's still in the planning stages," said manager Carlos Montenegro. Tamerlane attracts a new business Mines bring not only future jobs but new businesses, as Tamerlane Ventures' Pine Point project is proving. Pat Williams, general manager of recently-opened Monster Trucking in Hay River, said part of the reason he and his business partner Matt Morse decided to open the store is the injection of new people (and money) that will come with Pine Point, whose feasibility study is currently being updated by Tamerlane. "If they hire a 100 or 150 people, it's more money in town and, of course, more money for toys," said Williams of the mine. Wholesale sales decrease in territories Wholesale merchants' sales dropped in NWT from July to August, according to new figures released by Statistics Canada. The index, which racked in $61.9 million in July dropped sharply to $52.3, a drop of 15.5 per cent. Nunavut was hit worse in that same period, going from $13.1 million in sales in July to $5.5 million the next month, a 57.9 per cent drop. Gahcho Kue study almost ready De Beers Canada is on track to submit the environmental impact study to the Mackenzie Valley Environmental Impact Review board (MVEIRB) for the company's Gahcho Kue joint venture with Mountain Province Diamonds. "The study work has been progressing well and the materials are now very close to complete," said Cathie Bolstad, spokesperson for De Beers Canada. "Once finished, the final steps in preparing for submission to the MVEIRB include a management and legal review. We will be updating the MVEIRB later this fall regarding our anticipated submission date." Planting its decision Starfield Resources is deciding where to locate a process plant for its Ferguson Lake base metals project 240 km west of Rankin Inlet. The company, as recently as March, stated the plant would be located in Rankin Inlet, but has recently decided that may not be the case. Company president Andre Douchane said Starfield is also considering Arviat or somewhere along the Hudson's Bay coast as an option.
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