Cassiar earnings $22.2 million

The company’s Similco copper mine contributed $45.7 million to 1988 revenues of $112.3 million. Coupled with a 15% increase in asbestos revenue, 1988 was a record year for the company.

Total debt for the Cassiar asbestos operation has been reduced to $14.1 million as of March 1 and that debt should be fully paid off by year-end, the company said. The purchase price for the Similco mine was fully paid by the end of 1988 along with the $5.4 million obligation to B.C. Hydro.

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