LETTERS TO THE EDITOR Production dates get pushed back

In the 1986 annual report of Madeleine Mines the company states that “in the event that no merger is consummated, Madeleine has the option to bring the Lac des Iles property (a platinum group metals play in northwestern Ontario) to production by Dec. 31, 1988, at a minimum rate of 3,000 tons per day to earn a 50% interest in the property.” The 1987 annual report gives the same production date (Dec. 31, 1988). However, the 1988 annual report gives Dec. 31, 1989, as the production date and the 1989 annual report names Dec. 31, 1990, as the production date.

My question is, how were these dates extended? I also read in The Northern Miner and Madeleine’s 1989 report that the mine has been operating at the required 3,000 tons per day as of Dec. 17, 1990 — without the needed environmental permits. How does this affect the agreement between Madeleine and the Sheridan Platinum Group owned 10% by Pat Sheridan and 90% by Boston Bay Mines, which in turn is 40% owned by Belleterre Quebec Mines? Please give Belleterre’s position in future articles on Madeleine and its great future.

Sheridan, the president of Madeleine, is my kind of a maverick (one who departs from the customs or beliefs of his group) and is to be highly commended for the excellent tough job of bringing this project to production. Harold Mason Alleghany, Calif.