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HomeMy WebLinkAboutDonlin Creek News 2003Page 1 4 ©March 16,2003 ¢Alaska Journal of Commerce (=| March estimates for Donlin Creek sold expected to growByTimBradner Alaska Journal of Commerce New gold resource estimates for the large Donlin Creek gold project near the Kuskokwim River will be released by the end of March by NovaGold Resources Inc.and Placer Dome U.S.Inc. The new estimate,being developed by both Placer and NovaGold,will include results from exploration drilling in [MINING November and December and is expected to result in an increase in the gold resources measured and indicated by exploration drilling,according to NovaGold president Rick Van Nieuwenhuyse. Development of the Donlin Creek gold project is being watched closely.Although the project faces big challenges because of its remote location and the need for large amounts of power,it is the 16th largest gold discovery ever made,according to Curt Freeman,president of Avalon Development Corp.,a Fairbanks- based minerals consulting firm. The Journal of Commerce reported incorrectly March 2 that the project will require long-term gold prices of $350 per ounce.Van Nieuwenhuyse said the project is profitable at $300 per ounce. The Journal also reported incorrectly that the two develop- ment scenarios being considered by Placer and NovaGold are a mine producing 30,000 tons per day or 60,000 tons per day.Van Nieuwenhuyse said the two sce- narios involve production of either 20,000 tons per day or 30,000 tons _THE REAL ESTATE CORNER|merece)et ees how ak noe 8 FOR LEASE-Liberty Village To be built spring of 2003 Chambers Commercial Real Estate Bruce A.Chambers-Owner/Broker 907-565-5665 eS inet "Brand!New Office/Retail Development Q Abbott Road directly across from the new Fred Meyer Q First Floor -Professional Office or Retail 1800-3600 SF Q Second Floor -Professional Office or Medical Office 2100-8400 SF per day. Placer now has rights to acquire 70 percent of the gold project if it meets terms of its agreement with NovaGold,which include funding a mine feasibility study and making a decision to develop the mine in 2007,Van Nieuwenhuyse said. Earlier estimates of the gold resource at Donlin Creek have included results from drilling only through September,2002, Van Nieuwenhuyse said.The new estimate will include all drilling to date. As a U.S.-registered company, Placer is required to release only resources that are measured and indicated,a category estimated on the basis of drill holes spaced 25 meters to 50 meters apart. NovaGold,as a Canadian company,is permitted to include an additional category of "inferred”resources in its estimates,which are resources measured in drill holes spaced up to 100 meters apart. Most of the gold resource esti- mated at Donlin Creek,which now exceeds 20 million ounces,is in the inferred category.Recent drilling,however,has been in a grid spaced more tightly and is aimed at confirming estimates made earlier by drill holes spaced more widely. The result will be that some of the gold resource now labeled as inferred will be reclassified as measured and indicated,Van Nieuwenhuyse said.That means there will be greater confidence in the estimate,he said. March 16,2003 ¢Alaska Journal of Commerce *Page 13 Heinze says goal is to make sure insurance is available Continued from Page 1 a small market and medical costs that are higher than the national average.Rokeberg is a co-sponsor of HB-10. Criticism of the measure at the hearing came from Bob Hagen,independent insurance agent,who said he had studied health insurance pools extensive- ly and said he is "convinced they don't do any good.” Hagen cited a federal General Accounting Office study in 2000 of states that had insurance pools, and in no case did the pool offer rates that were lower than could be obtained on the open market. He said premiums paid by members of an insurance pool in California are 8 percent above the market rate.It is still considered a success,however,because of the wider variety of options offered in the plan,he said.The system also works best in states like California which allow managed care,he said.Alaska does not allow man- aged care,however. Hagen also questioned the premise that large pools automati- cally translate to lower premiums, Since 80 to 90 percent of premi- ums collected go to pay claims, the relative size of a pool doesn't really matter,he said. Critics of the bill were drowned out by a chorus of sup- port,however.Marie Darlin,rep- resenting the American Associa- tion of Retired Persons,and Bob Taylor,executive director of the Commission on Aging,said their groups are worried about whether Alaska State Chamber of Com- merce,said health insurance is among the top priorities for her association and its members,and cited the difficulty the state cham- ber itself is having as a nonprofit in securing coverage for its staff. Judy Miller,speaking to the Labor and Com- merce Committee from Valdez,said she likes being self-employed and running a small busi- ness,but the lack of health care insurance availability may force her to close her business to become an employee of a larger firm which can offer benefits. Small businesses employ the most people nationally,"and you could grow a lot of small business- es in Alaska if coverage was avail- able through something like this,” she said. Some members of the commit- tee weren't convinced,however. Rep.Carl Gatto,R-Palmer,ques- tioned whether the state should form an insurance pool on behalf of the private sector and expressed worry that if the pool wasn't successful the state would come under pressure to con- tribute financially to reduce losses and premiums. He was also skeptical of the likelihood of success because of possible 'adverse selection'that could occur in a voluntary pool.In this situation,firms with young or healthy employees would have no incentive to join the pool,while firms with older employees who employees judged higher-risk by insurers,he said. Rokeberg discounted this.If insurance isn't available at all for many small businesses and nonprofits,whatever the occu- pation risk or the heath profile "You could growa lot of small businesses in Alaska if coverage was available through something like this.” -Judy Miller of their employees,they will jump at a chance to obtain cov- erage through a pool.The pool would be large and diversified, he predicted. Judy Miller,in Valdez,scoffed at Gatto's concern."I'm young.''m healthy.I would join this pool in a minute and there's a lot of others like me,”she told the committee. But Jack McRae,senior vice president of Premera Blue Cross, said the adverse selection prob- lem is real.In an interview, McRae said an insurance pool by definition would include high-as well as low-risk groups.Thus,the costs borne by the pool, which determines the premium,is the average of the claims filed by both the high-and low- risk groups. If the low-risk groups by themselves can get coverage at lower cost based on just their pro- file,there's no incentive for them to stay in the pool.That leaves a pool with just high-risk people, which means it would be doomed. "Without strong underwriting criteria,it's a foregone conclusion that a pool like this would suffer from adverse selection,”he said. "That will lead to higher rates, possibly higher than what could be obtained on the open market,” he said. Rokeberg is worried about the possible effect of a state pool on the health insurance market. Competition is already shrinking because of higher costs.If HB 10 becomes law and encourages the exodus of insurers from the mar- ket,it is a matter for serious con- cern,he said. Rokeberg said he would intro- duce an amendment to HB 10 that would limit the size of the pool to about 20 percent of the present small group health insurance mar- ket.He hopes that would leave enough of the market to keep a number of insurance companies active,he said. 'WISH. Wish to thank the following supporting sponsors of Make-A-Wish Days on MIX 103.1,a benefit for children with life-threatening illnesses throughout Alaska. »Alaska Crystal Cache estosAlaska_l ase,|> '>Alaska Event Services »Alaska Journal of Commerce and $1,000 Cash Sponsors >Alaska Laser Printing &Mailing »Arctic Slope Regional Corporation In-Kind Donors >Bil''s Distributing ©.|>»Blockbuster Video , >»Dimond Center Mall Ae >Butler &Butler,ReMax Properties Week of March 9,2003 SOUTHWEST ALASHA Transportation,power hurdles for Donlin Creek development Developers of the remote Donlin Creek deposit,located 175 miles from Bethel and 12 miles north of the Kuskokwim River in rolling hills,must carefully calculate costs to provide basic infrastructure for any mine that would operate at the 28 million ounce gold resource. (See related story this page.) That's because there's little in the way of existing infrastructure on-site,and whatis currently available has been Geveloped in the pastbyexplorationcrews. NovaGold Resources Inc.,a Vancouver- based exploration company that currently owns 70 percent interest in the property,has §studied logistical needs that a remote,large- scale open-pit mine and mill would require. In a presentation to the Fairbanks branch of the Alaska Miners Association Feb.21,Doug Nickolson,NovaGold's senior projects engi-Heneer,talked about the company's "base case Doug Nickoleon wasscenario”for Donlin Creek.NovaGold Resources A work force of 300 to 400 employees, likely working 12-hour shifts,would process about 20,000 tons of ore a day,he said.Gold-rich rock would be crushed and processed, with gold bars shipped out,said Greg Johnson,vice president of cor- porate development. Power an obstacle Electric power is one of the key obstacles for such a development. Currently,NovaGold executives have looked at diesel generation on or near the site,but are open to other alternatives,such as a regional power plant or running power lines from the existing Railbelt grid. "We would just as soon be someone's customer,”Nickolson said. "Anything else is gravy -we would love for someone else to come in and provide power,as long as it meets the economic perimeters of the project.” Several studies are in the works that are considering the Donlin Creek power needs along with regional electric demand for the rural area,Johnson said."There's a lot of interest from the state and the Denali Commission about a regional solution,such as a regional electric grid.”.Calista Corp and the Kuskokwim Corp.,Native corporations which own the mineral rights and land at Donlin Creek,are also looking at ways to provide power to the deposit as well as to share- holders in the area. "One of the ideas is if the villages in the Alaska Village Electric Cooperative got together and build something that's a cooperative plant for the region,”Johnson said."There's also talk about a new power plant in Bethel,or a line over to the (Railbelt)Intertie.” Should these plans fall through,a diesel generation plant on-site would require substantial shipments of fuel,Nickolson said."It would require 30 million gallons of fuel a year,just for a power plant,”he said. A barge a day Fuel shipments,combined with consumable items needed at a mine and mill site,would require seven tug and barge deliveries a week during the 122-day river shipping season on the Kuskokwim see DONLIN CREEK page 16 PatriciaJones'end of March.Contracts for "Eee tsp khiweeRk PeTE SE Ore fag d he Cee .Ral-barge service hetwenn Seattlevand AlaskacaBFBERge¢Rall conasctions te taywhere in Coats andtheBaitedStates.Leaving So weekly with consistent;reliableserviceiCakonersserviceinAnchorageandSeattle"he 2 Ree é éQuickresponseforpricequotes.a JSaBeieetAnchorage?907-265-95-2485 "B00321-6518Seattle:800-843-2772" TAS POOENSa2teheraake mm SOUTHWEST ALASKA C-l Petroleum News ¢Alaska Placer Dome goes back to work on the Prudhoe Bay of Alaska gold deposits Vancouver company commits to $30 million investment in less than five years for 28 million ounce resource in Kuskokwim mountains By Patricia Jones PNA Contributing Writer alling it one of the company's top four devel- opment properties worldwide,mining giant Placer Dome is returning to Alaska to work the state's largest unmined gold deposit,the 28 million ounce Donlin Creek resource located in the Kuskokwim mountains . of southwest Alaska. The Vancouver,B.C.- based company,with mining operations worldwide that are expected to produce 3.5 million ounces this year,looks at Donlin Creek to help fulfill future production needs. -"Tt has the potential to one day become part of our overall long-term strategy,”said Meghan Brown,senior communications coordinator forPlacerDome."But it's not just switching the lights on quickly.” Under an agreement with joint venture partner NovaGold Resources Inc.announced Feb.11 and published in the Feb.16 issue of Petroleum NewsAlaska,Placer Dome has a little less than five years to bring the property to a mine construction deci- sion.That work includes spending $30 million on Donlin Creek,to include to producing a feasibility plan and acquiring necessary permits to operate a large-scale mine and mill. Terms of the agreement call for a minimum mine production of at least 600,000 ounces,but according to NovaGold's news release on the prop- _erty deal,Placer Dome is currently looking at a high-tonnage operation that would potentially pro- duce more than one million ounces per year. That's more than double the size of Alaska's largest operating gold mine,the Fairbanks-area . Fort Knox open pit mine and mill,which produced about 440,000 ounces in 2002. A Placer Dome representative briefing state leg-islators during a natural resources committee meet- ing on Feb.19 said Donlin Creek is the largest pro- see PLACER DOME page 16 | B STATEWIDE Alaska mining news summary By Curt Freeman PNA Contributing Columnist author espite the drop in gold prices Curt since a month ago,explo-|Freeman,ration activities in Alaska es #e001,a :Is a wearepickingup.Two drill known geolo-programs have already kicked off |gist who livesinInteriorAlaskaandmoreareNeaanks.:je preparlikelytobecompletedbeforethe|tis column drilling rigs,helicopters and expe- rienced geologists are being final- ized at a rate not seen here in half a decade.In addition,Alaska's new political administration is aggres- sively encouraging infrastructure development and making regulato- ry improvements to help Alaska's his Web site is for Petroleum Curt Fr News e Alaska on Feb.28. Freeman can be reached by U.S. Mail at P.O.Box 80268,Fairbanks, AK 99708.His work phone number at Avalon Development is (907)457- 5159 and his fax is (907)455-8069. His email is avalon@alaska.net and www.avalonalaska.com like a good year coming up. WESTERN ALASKA The eagerly awaited decision finally came and in the end sur- prised nobody.NovaGold Resources announced that Placer Dome has elected to increase its interest in the Donlin Creek gold project by 40%(to 70%).In order to acquire this additional interest Placer Dome must expend $30 million on project development, complete a feasibility study and make a decision to construct a mine that produces at least 600,000 ounces of gold per year, all this by November 13,2007. NovaGold would not be requiredPatriciaJones mineral industry grow.I also have to correct last month's lament that Alaska did not reach the $1 billion value mark in 2002.More accu- rate figures recently were provided which indicate that Alaska's total mineral industry value topped the $1 billion level for the sixth straight year.Production value was $968.2 million,development,value was $33.5 million and exploration value was $25.0 million bringing the year-end mineral value to $1,026,700,000.All things considered,it's looking US BEARI AND DRIVES Added Value is Our Product-Our Peopie Make the Difference V-Belts &Sheaves e Packing &Gaskets e Seals «Bearings «Pillow Blocks Sprockets &Chain »Motors &V.FD.'s e Conveyor Components &Belting Couplings «O-Rings «Loctite &CRC «Specialties. to contribute additional funding until after the fist $30 million is spent and may elect to have Placer Dome arrange financings for NovaGold costs related to mine construction.The companies are on-track to complete a revised resource estimate based on all of the drilling completed in the last year and to develop plans to address the project's power and access needs.Using a lower cut-off of 1.5 grams of gold per tonne,current resources at the project see FREEMAN page 16 NGS Formerty Basco Doing Business in Alaska Since 1952 en E,entomationsl Airport Re]Ph 563-3000]After Hours 250-2828|TollFree 806-478-6205|Fax 563-1003 |www.bearings.com:D Petroleum News «Alaska continued from page 15 FREEMAN stand at 9.9 million ounces grading 3.0 grams ofgold per tonne in the measured and indicated category with an additional 17.9 million ounces of gold grading 3.0 grams of gold per tonne in the inferred category. Now that day to day management of Donlin Creek has passed to Placer Dome, NovaGold Resources announced plans to accelerate exploration and development of its holdings in the Nome District,including the Rock Creek gold project under option to-TNR Resources,and its Nome Gold and aggregate projects.Independent Preliminary Economic Assessments are being completed on both projects to determine optimal devel- opment plans and exploration requirementsforlaterthisyear. The U.S.Bureau of Land Management announced the beginning of a planning process designed to review opening of the Southern National Petroleum Reserve Alaska (NPR-A)to mineral development. NPR-A is an enormous track of land origi- nally set aside as a strategic petroleum reserve but which happens to contain the eastern end of the Red Dog zinc belt. Exploration conducted by the U.S.Bureau of Mines nearly 20 years ago indicated that the Drenchwater and Story Creek deposits have 50 to 100 million-ton resource poten- tial with Story Creek having grades that are higher than the extremely rich Red Dog deposit.Access to these deposits,from exist- ing roads to the west or the east,will be key to developing these resources. EASTERN INTERIOR Kinross Gold announced that it had a successful year of exploration at its Fort Knox mine in the Fairbanks District in 2002. The company indicated that it had recovered 410,520 ounces of gold at a cash cost of $232 per ounce and added 623,000 ounces to new reserves as a consequence of renewed exploration drilling and revised engineering/mining techniques.In 2002 the operation mined 19.1 tons of material using a staff of 388 people,an activity that is expected to rise in 2003 to 33.5 million tons mined with a staff of 425 people.Projected production for 2003,from the combined Fort Knox and True North open pits,is 408,000 ounces of gold.Exploration spend- ing by the company also is expected to increase in 2003 to $3.5 million., Teryl Resources and Linux Gold Corp. (formerly Linux Wizardry Systems Inc) announced that a 6 hole,1,500-foot drilling . program was underway on its Fish Creek prospect in the Fairbanks District.The drill program is designed to test several magnet- ic highs for lode gold -arsenic -bismuth mineralization similar to that on the adjacent Gil project (Kinross Gold 80%/Teryl Resources 20%).In additional,the drilling will test for alluvial gold mineralization sim-_ ilar to that recovered in previous drilling on the project. ALASKA RANGE Nevada Star Resources announced that it has made arrangements to raise $1.5 million to be used to continue exploration its MAN copper -nickel -platinum group element project in the central Alaska Range in 2003. Recent exploration discoveries in this area and the much anticipated release of airborne magnetic and resistivity data by the State Div.Geological and Geophysical Surveys and the U.S.Bureau of land Management has prompted renewed staking of Prospec-tive groundin the area. NORTHERN ALASKA Silverado Mines reported that under- ground development work is continuing at its Nolan Creek placer mine in the southern 'Brooks Range.By the end of January the company had advance approximately 426 feet upstream and 500 feet downstream along the Nolan Deep Channel.This work and other development work has resulted in a stockpile of approximately 7,000 cubic yards of gold-bearing gravel that will be treated in the summer of 2003.The compa- ny plans to continue-drifting along the Nolan Deep Channel until warmer spring weather forces seasonal closure of the underground and conversion of the operations to mining of stockpiled gravels.The company expects to mine about 1,500 feet of channel this win- ter season and complete surface drilling oonthepropertyinlatespring. SOUTHEAST Hecla Mining (29.73%)and Kennecott Mining (70.27%)announced revised ore reserves on its Greens Creek mine on Admiralty Island.The year-end 2002 proven and probable reserves stood at 7,049,944 tons grading 0.13 ounces of gold per ton,14.9 ounces of silver per ton,4.2% lead and 11.4%zinc.This equates to about 903,000 ounces of contained gold and over 105 million ounces of contained silver.The mine also contains 2,725,637 tons of mater- ial classified as "other resources”grading 0.13 ounces of gold per ton,17.0 ounces of” silver per ton,4.9%lead and 11.3%zinc. 'OTHER _State Democratic Senator Gretchen Guess and Democratic Representative Eric Croft introduced companion bills in the State legislature that would earmark revenue from mining claim rentals,leases,taxes and royalties for a mining infrastructure fund. These funds total about $5 million per year and would be used for projects that would spur or support mining development in Alaska.The Alaska Department of Natural Resources would administer the funds.The bill also would change current state policies into statutes such that mining wastewater discharge would not have to be cleaner than the water -was when it entered the opera-tions.Current regulations allow this policy to be applied at the State's discretion but this bill would convert the policy to statute. 'CUAERA ENGINE REBUILDERS ASSOCIATION Midtown Auto Parts&Machine Inc. Quality Brand Name Auto Parts Complete Cylinder Head Services Cylinder Head Pressure Testing Crank Grinding ¢«Flywheel GrindingHotTanking«Boring ©Honing ¢Engine Balancing Long Blocks e Short Blocks «©Reman.Heads Ground Cranks ©Recon. Werepee)=OEYOCHoun | SI1FELPRO Call:907.561 7433 202 E.Potter Drive *Anchorage,AK 99518 http://midtownmachine.cjb.net Rods Week of March 9,2003 .continued from page 15PLACERDOME : ject the company bas ¢ever taken on. -Size,logistics similar to _Prudhoe -:_”But Donlin Creek,which is among __the 20 largest gold deposits worldwide, »faces logistical challenges unlike Fort Knox,which happened to be located ond largest city,and a long-time mining.community.: .Donlin Creek isis more similariin size and logistics to.Prudhoe Bay.:It's -Kuskokwim =River from.Bethel, -abouti2 miles north of river from the village of Crooked Creek,nestled in the rolling hills which face harsh winters in_southwest Alaska. _hurdles to overcome,as well as dealing _with the technical,environmental and --economic questions about the hard-rock gold resource._"There are a number of complex |issues.that need to:be addressed,” -.Brown said."We're very positive about _the opportunities to do business inAlaska.”': Resource is 0open,could grow -But quantity of the valuable mineral, combined with steady market prices for gold,should help overcome many eco- nomic obstacles.NovaGold executives, who have been on the ground at Donlin _Creek for several years,believe the 28 million.ounce resource.will grow.as knowledge about the deposit increases, "strike,both east and west,”said Greg Johnson,vice president of corporate development at NovaGold and a geolo- gist who.worked on the property for -1990s."In the long term,we're confi-dentit will continue to grow.” -Currently,the depositis about three "cal drill data from Placer Dome,'com- -worth of work on the property.since Of 1.5 grams per ton,considered to be _ should gold sell for $350 per ounce. less than 25 miles from Alaska's sec«::: .remote,located about 175 miles up the _ing in 1996 _junior.exploration company based:in | Would be something of value when gold _ "It's still open at depth and along the . Successful drilling results,a gradual Placer Dome in the early and mid. bined with NovaGold's$10 million mid 2001.It's based on a grade cutoff © an economic level of production, "As gold prices scale up,you have the economies of scale available to decrease'the grade cutoff,”:Johnson «-said.'The average grade:of the known -Donlin Creek resource is three grams or | .09 ounces per ton of rock,according to.-Johnson,considerably higher than the average grade at Fort Knox,which was .025 ounces per ton at the start of min- Placer Dome returns to Alaska Less than two years ago,Placer Dome pulled out.of.Alaska,turning ns over operatorship of its largest explo-Power,transportation and labor.|Pe P 8 xPtation'project in the state,Donlin -.needs will provide significant operating -Prod " Creek,to NovaGold,”a relatively new Vancouver,B.C. :_At the time,Placer Dome had spent - about five years on the exploration pro- ject and more than $30 million to define a 13 million ounce resource.Although .that 'resource wasconsidered large,- with record low gold prices at the time, _it was considered uneconomic."As gold price dropped 'to $250 an ounce,it)became sub-economic,” Johnson said."(NovaGold)believed it prices.eventually turned around.;We just.didn't know gold prices would bounce right away.” _NovaGold jumped "in,"spending roughly $3 million during the first half... year at Donlin Creek,targeting higher grade zones to see if the overall grade could be improved,:Johnson said. increase in gold prices and company revenues from other mining properties in'Alaska encouraged NovaGold to aggressively work the property in 2002. Although NovaGold had '10°years..to spend.$10 million on the property.tokilometerswideandabouttwokilome- erally stopped at the 1,000-foot depth, -|Johnson said,although a few deeper holes have been punched.- "We're pretty.confident with those few.deeper holes”that.the system remains open .at.depth,”.he said."It -.depends on gold prices but yes,we will look at the economics .of «deeper ters long.Exploration drilling has gen- 'months,while doubling the resource : -Now,the tables are tured.Placer' acquire a 70 percent interest,the com-_pany completed that obligation in.16 estimate of the property. Dome must step up to the.plate to reclaim a controlling 70 percent interest in Donlin Creek.But this time,the ante is considerably higher.: Placer Dome has slightly less thandrilling.There's no question that _there's more gold to be found there.”How much,and how quickly, _remains to be seen.The two companies, _percent interest in the gold property,a five years to reclaim its controlling 70" timeline termed "realistic”by both companies.oe -'which announced.a new joint venture"agreement for Donlin Creek on »February 11,are first working on a new | __resource number.That number should =be'released 'sometime .in .March, |Johnson said,along with a pre-feasibil- ©city study sometime later in the year. :The 28 million ounce resource,a _that percentage.Or it could have con- =-verted to a meee five Bet -_number calculated and released by.cent netprofit interest.oNovaGoldlastfall,is based on histori-Z continued from page 15 DONLIN CREEK River,he said."Basically there would be one barge a day being unloaded at Crooked Creek,To . us,that's not an excessive amount of traffic on the river,but we recognize it is a signifi- cant change to those people who live there,” Nickolson said."It's also a significant opportunity for locals as it would lower fuel 'Tt does mean they have to get going on.it,”Johnson added."Clearly they. can't sit on it.” Placer Dome could have remained at its current 30 percent share in the prop- erty,funding further development.at costs into that area.” Access to the remote site also would require improvements to the existing dirt runway,now approximately 6,000 feet long, but with a substantial dip in the middle. The existing winter trail from the Kuskokwim River to Donlin Creek also needs upgrading,and the state has already allocated about $4 million to improve it to an all-season road,Johnson said. -Patricia Jones,PNA ae at contributitig ur ier Bob Lewis co-owner Alaska Coffee Company Inc.eaeageintiagaeteesWeb site:www.alaskajournal.com Alaska's Paper of Record ¢Established 1977 ©Journal of Alaska Business Week of March 2,2003 ¢Vol.27,No.9 upreme Court Red Dog appeal GE -The U.S.Supreme 'eb.24 agreed to hear an n the state of Alaska that 1 Redgog mine to use anti-tion technology er generation. +is whether the Environ- otection Agency has the werrule a state's day-to- ons on national environ- es. ink Murkowski said he was ith the high court's deci- rT the case. 'it will hopefully resolve ity of the state with regard lity,”Murkowski said. to get the thing resolved all.” ficials filed a federal years ago after they fe to reach an agree- the EPA on clean air ted with a new gener- ine,located 90 miles ebue.The state lost ict Court,and then th Circuit Court of inco Inc.,which oper- By Tim Bradner 7hPlacerDometakesover gold mine Alaska Journal of Commerce The big Donlin Creek gold project 300 miles west of Anchorage has begun its transi- tion from an exploration to a development project,says the president of NovaGold Resources,Inc.,a partner in the project. There are still huge hurdles that face Don- lin Creek,among them finding an affordable way to supply the 60 Megawatts of electric power the large gold mine would need to process ore,said Rick Van Nieuwenhuyse, president of NovaGold. Donlin Creek would be one of the world's largest gold mines,and the capital investment required is substantial.Construction costs for the mine could range from $600 million to $1 billion,depending on how large a project is decided on,Van Nieuwenhuyse said.Gold prices would also have to be in the $350 per ounce range for the long-term,he said. If the project proceeds it could be in con- stuction in 2006 and in production by 2008, Van Nieuwenhuyse said. Placer Dome U.S.announced Feb.11 it would buy back a 70 percent share of the Donlin Creek project.NovaGold had been exploring the project under an agreement with Placer,which had negotiated a lease at Donlin Creek with the landowner,Cal- ista Corp.,and did much of the original exploration. "I believe a $350 price can be sustainable, and our partner,Placer Dome,must also believe this.They are one of the largest gold mining companies in the world and they should have a pretty good handle on the mar- PHOTO/Countesy Causta Corr.Drilter's helper Dennis Zaukar,left,and driller Nick John prepare core samples at the Donlin Creek - gold deposit in Western Alaska. ket,”Van Nieuwenhuyse said. There are two transitions now under way with the project,he said.One is from NovaGold back to Placer to manage the proj- ect.The second is from Placer's exploration division,which is based in Vancouver,B.C.,to its development group,which is based at the corporate headquarters in Denver,Colo.,Van Nieuwenhuyse said. Placer managed the project from 1995 to 1998,and owned 100 percent of the rights to Donlin Creek.It withdrew from the project in ae 1998 due to low gold 'prices,and to focus Been attention on the company's producing mines. NovaGold took over as exploration manager under an agreement that it invest $10 million in further drilling to expand the gold resource base,Van Nieuwenhuyse said. That commitment was completed in November and the smaller company earned a 70 percent ownership of Donlin Creek,leav- ing Placer with 30 percent,he said.However, Continued on Page 12 Citizens work to save Wrangell economy By Regan Foster Alaska Journal of Commerce The Southeast Alaska community of Wrangell was described by one of its civic leaders as sitting "on the edge of an econom- ic bubble waiting to implode,”but that does not mean the city's residents are leaving the community for dead. Rather,the reaction has been just the opposite,according to Bruce Harding, Wrangell's mayor.A group of representatives from the community visited Juneau in late economic projects,including the develop- ment of a road that would connect Southeast to British Columbia and a hydroelectric intertie that would encourage new industries to enter the area. "We've been a community at risk and we still are,”Harding said."But,we're keeping our eyes up and on the destination.We are ready to play ball.”: The most recent blow to the Wrangell- Petersburg area came on Jan.31,when Silver Bay Logging Inc.filed for bankruptcy.The lumber mill,which had been one of the process of restructuring,said Georgiana Buh- ler,the company controller. In 2001,logging and wood processing accounted for about 9 percent of all jobs and 11.7 percent of total wages in the Wrangell- Petersburg census area,said Neal Gilbertsen, a Southeast Region economist with the Department of Labor.Over the last year, those numbers slipped to 6 percent of all jobs and 9 percent of all salaries;and the com- bined wages from the timber industry dropped from over $77 million in 2001 to .Continued on Page 14FebruarytolobbytheStateLegislatureforindustry's leading employers,is in the "8 barrel,week of February 17,2003 Alaska Permanent Fund daily unaudited position | $25.00 LOb2-p4¢¢ o j 0A1g ¢6 J9VIOHNY=f j L013 9 Ait!MAaHLUON :»|Holiday $22,567 $22.533 i 7313090 -isngyy visnie 56 |=$22.627 $22.632 goo-4g7,bb 2.61 OOM NHoe$36.19 $36.18 $36.10 a |:en lO Ley yy, ;eS aT ta ir TT Far)72 ma a |)Wo SOURCE:Alaska Permanent Fund Corp.For more info:www.apfc.org 6 ST4 ee 12500 6 ' Page 2 ©March 2,2003 «Alaska Journal of Commerce rece caressSe"THIS WEEKINALASKABUSINESS HISTORY. Editor's note: Business History”revisits events that shaped our past. "Those who cannot remember the past are condemned to repeat it.” -George Santayana, 1863-1952 10 years ago this week Alaska Journal of Commerce March 8,1993 Japanese firms may net price fixingcharges By Margaret Bauman Investigators from the Justice Depart- ment's antitrust division are in Tokyo to take depositions from 20 employees of five major Japanese firms of processed seafood from Alaska. 'This Week in Alaska The investigators,who are looking into violation of a 1982 consent decree,said they are seeking depositions from Kyokuyo Co.Ltd;Mitsui &Co.Ltd;and Toshoku,Ltd. All are Japanese corporations dealing in manipulation. The state investigation was prompted by massive complaints from fishermen and others over what they felt was price fixing, said Jim Forbes,assistant attorney general. seafood,with headquarters in Japan. Antitrust attorney Howard J.Parker left San Francisco for Tokyo Feb.27 to be in Tokyo while the depositions were taken. The case involves millions of dollars in processed seafood sales to Japan. The initial suit alleged that these major Japanese fish importers violated the Sher- man Antitrust Act by conspiring to fix prices paid for processed Alaska crab.The case was settled by a consent decree,under which the companies charged agreed not to participate in illegal behavior. In Anchorage,meanwhile,the state Attorney General's office was compiling its own report on evidence of salmon market Alaska Journal of Commerce March 8,1993 Wards Cove exemption before Congress By Margaret Bauman Legislation to strike Wards Cove Packing Co.'s exemption from retroactive applica- ducedin Congress March 2 by Rep.JimMcDermott,D-Wash.The measure,which McDermott and supporters reintroduced as "The Justice For Wards Cove Workers Act,”is endorsed tion of the 1991 Civil Rights Act was intro- rights protection,”particularly tiffs in the Ward Cove Packing ( nio case. Plaintiffs include 2,000 Asi Americans and Alaska Natives. Last year the measure was st House Judiciary Committee,« Rep.Jack Brooks,D-Texas. The author of the exem Murkowski,R-Alaska,is quoted gressional Record on Nov.5,199 that to "the best of my knowle Cove Packing Co.v.Antonio is th that falls within this classificatic Murkowski,a family frien Brindle,owner of the Wards Co Co.,received nearly $10,000 in indirect campaign contribution Brindle family for his last campbyPresentClinton,who said in a letter to McDermott the exemption "weakend the scope and effectiveness of federal civil -Compiled by. Bethel hospital thirdin Alaska to receive state trauma certific By Regan Foster Alaska Journal of Commerce Yukon-Kuskokwim Delta Regional Hospital in Bethel became the state's third hospital to be recognized as a trauma cen- ter in January. The hospital joins Norton Sound Regional Hospital in Nome and Anchorage's Alaska Native Medical Center in being recognized for meeting strict criteria in patient assessment,stabilization and transport,said Martha Moore, injury surveillance and prevention coordinator for the State Depart- ment of Health and Social Services. wd -652WSathAve,#D*:Anchorage:AK99518: Hurry...Limited Time Offer! :7 Digital Color Prints-42¢7 Digital B&W Prints-4'Sorte restrictionsapply.Cali For Details” eee ae Quality and Service you can trust! ae Tt ©Digital Color PrintsFeDigitalB/W Prints §¢Volume Discounts B ¢Archive For Future Printing:ihe om om we oe ee om om ff ©Spiral,Comb,Wire Binding EXPERIENCE THE DIFFERENCE!4 ios The Yukon-Kuskokwim and Norton Sound hospitals both qual- ified as Level IV centers while the Native Medical Center is certified as a Level II center,she said. A Level IV trauma facility pro- vides initial evaluation and assessment of injured patients, resuscitates and stabilizes critical care patients and prepares seri- ously injured individuals for trans- fer to a larger hospital,according to the criteria set out by the state. A Level II center,on the other hand,is certified by the American College of Surgeons and provides complete medical and health care.Moore said those facilities ANCHORAGENorth+700 South Bragaw+278-362 :South+10931 O'Malley Centre Drive+3East-5201 East Tudor Road+337-9550...West+1400 West Northern Lights Boulevard264-272 :For Women +1450 W.Northern Lights Boulevard «64-27Downtown+745 West 4th Avenue 274-4 . Midtown°630 East Tudor Road»562-2460 Eagle River +12001 Business Bouleva must include every facet of health care except for medical research and advanced education. It took about 18 months of research,education and compli- ance studies before the Bethel hospital met HSS standards, according to Barbara Hopkins, the emergency department nurse manager.The hospital had to meet requirements for staff training and oversight;facilities and equipment;assessing and stabilization techniques;patient transferring;and community outreach and education,Hop- kins said. "I have a 144-page book of com- pliance and initiatives,”she said. "Needless to say,we're prepared.” Moore said that most rural hos- pitals in Alaska,including Yukon- Kuskokwim Delta Regional,meet the majority of the state's require- ments for certification before they voluntarily enter into the process. A certificate guarantees that the © smallest elements of patient care South +747 Old Richardson Highway +452-6801North:+150Eagle Aventie *456-1914© Valley +2841 Riverside'Drive +789-2181Downtown-641 West Willoughby*586-57735'Orlogon to www.thealaskaclub.com are accounted for. "In terms of trauma care,they (a Level IV hospital)must be capa- ble of handling every small phase of the preliminary steps,”Moore said."One thing we've heard, though,is that going through this process,whether a hospital gets certified or not,assures that all the little pieces are there.” Hopkins added that the educa- tion that came from getting the certification increased the confi- dence levels of both the patients being treated and the nurses from whom they get their care. "Our nurses have responded just tremendously.We're a very young nursing staff and their confidence levels have increased because they are capable of handling these situa- tions,it's what you would hope to see happen,”she said. Ross Soboleff,an information officer for the health department, said if'a hospital wishes to pursue its designation,it must first contact the state.The hospital then works to ensure its co nce W. ments,and a team of su nurses pays a visit to the "It's a very big deal "Each hospital knows ticular situation and h handle it.” Moore said the hea ment is encouraging ¢ hospitals to pursue th tion,but she added th no intention of forcing tates into the procedu: "The tendency wh to this sort of project, that the process is b when,in fact,it's be improve trauma care, Hopkins noted tha cate,while a long worth the effort for her hospital has rec Yukon-Kuskokw Regional is now r 24-hour-a-day,sev facility with a clinic she said.The hos March 2,2003 ¢Alaska Journal of Commerce ©Page 11 BUSINESS PROFILE CP Ships commits to 1 year in Anchorage PHOTO/Resan Fosten/AJOC Alaska Coffee Company Inc.co-owner Bob Lewis has built the company into the state's fifth-largest coffee "Ter. awale of the company:Alaska Coffee Company Inc.d.b.a.Coffee Cats Established:1992 Location:5650 Old Seward Highway,Anchorage, AK 99518;2101 Abbott Rd.#6,Anchorage,AK 99507 Telephone:907-349-3003;907-770-0687 E-mail:coffeecats@gci.net Focus of the product/service:Alaska Coffee Company,better known as Coffee Cats,roasts cof- fee beans for both its Abbott Road espresso shop and about 60 commercial clients throughout the state.From the time raw beans arrive at the roasting center on Old Seward Highway,to the point when they are delivered to clients,Alaska Coffee works to assure that only the highest qual- ity coffee is produced,said Bob Lewis,the compa- ny's vice president and co-owner. : History of the company:Bob Lewis and his wife, President and Chief Executive Diane Lewis, opened Coffee Cats as a one-person coffee shop. Diane Lewis had a love of coffee and the dream of opening her own business,so she left her job with an Anchorage bank and poured herself into her work as a barrista,Bob Lewis said. When the coffee craze of the early 1990s came to Alaska,Diane Lewis found her store growing,and she eventually took on employees. Nn.LTzewis,a former Procter &Gamble employee, |1 researching coffee roasting techniques when the store opened.In 1994,he purchased an eight-pound hot-air roaster that the couple could keep in their shop.Within a month,Lewis was roasting not only for his store,but for other coffee shops as well. As the demand for Coffee Cats-roasted beans grew,the retail store became overwhelmed by the noise of the roaster.Bob Lewis noted that the machine ran constantly to keep up with orders. "It got to the point where we either had to expand our roasting operation or lose our customers at the coffee shop,”Lewis said. In 2000,the company's roasting arm moved to its own location.Alaska Coffee Company now produces up to 120 pounds of roasted beans per hour;and the calling for the Lewis'coffee is so high that raw beans,which come in a bulk of 120 pounds to 150 pounds,must be restockedweekly.a mo In the last three years,Alaska Coffee has.further diversified into selling and servicing espresso machines,Bob Lewis said.The current Alaska Coffee/Coffee Cats team consists of 10 employees and the couple. "It really has become a complete circle,”he said. "Now we're all set to grow our business based on our options.” Major accomplishments:The Alaska Coffee Com- pany Inc.is one of 10 roasters in the state,but ranks about fifth in the market in terms of beans roasted and sold,Lewis said.The company cur- rently has 61 commercial accounts throughout Alaska and ships smaller orders to North Carolina and Arizona. Major players:Bob Lewis moved from Edmunds, Wash.to Alaska in 1978 when Procter &Gamble transferred him.Diane followed in 1979 and took a job with an Anchorage bank.The couple mar- ried that same year. -Regan Foster Airport concourse work may be slowed By Pat King Alaska Journal of Commerce Anchorage airport officials are cautiously optimistic that work on the $320 million concourse C will ye completed by the spring of 2004. That's the word ron ris Birch, lirecuur of engi- ieering,planning ind environment 'or Ted Stevens Anchorage Inter- iational Airport.Birch spoke at the 8th Pacific Rim Construction, Jil and Mining Expo Feb.19 at the Sullivan Arena in Anchorage. Work on the 400,000 square- oot concourse could be compli- 'ated and slowed down,however, PacCom because the airport will simulta- neously need to install luggage screening machines as part of new security measures,Birch said. The airport is installing nine bag screening machines that cost about $1 million each. "Trying to inte- grate those units into ongoing con- struction has been somewhat _prob- lematic,”Birch said."There have been some security issues that have impacted (the construction), but we're still targeting our com- pletion for spring of 2004.” Birch also noted that the air- port is the No.1 cargo hub in the western hemisphere and serves as the economic engine of the region with 9,000 employees. Birch said 1 in 10 jobs in Anchor- age are tied to the airport. On the construction front,the reconstruction of the north- south runway will be undertaken this summer,from May to Sep- tember.That work will close the north-south runway,which han- dles 70-80 percent of air traffic. The closure will require heavy use of the two east-west run- ways,meaning more air traffic noise over the city. "There's no nice way of say- ing it,it's going to create a lot of noise impact to our town,”said Continued on Page 12 ¥By Pat King Alaska Journal of Commerce CP Ships,one of the top 10 con- tainer shippers in the world,will begin stops at the Port of Anchor- age in a development that could broaden trade between Alaska and Asian markets. "This opens up many,many doors that just haven't been available before,”said Roger Graves,manag- er of government and environmen- tal affairs for the Port of Anchor- age."We've never had this direct connection before to the Pacific Rim countries.” Graves announced the news during a Feb.19 address at the 8th annual Pacific Rim Construction, Oil and Mining Expo at the Sulli- van Arena. The first CP ship is tentatively scheduled to arrive in Anchorage in late March. "They're commited to 52 weekly calls,”Graves said."If it works out it's going to be good for everybody.” PacCom Graves said five CP ships will run a route to Anchorage that begins in Pusan,South Korea.In between will be port calls in China,Japan and Vancouver,B.C. CP Ships Ltd.is a Canadian container shipping company oper- ating a fleet of 89 ships with head- quarters in Lon- don.It employs about 4,400 people in more than 85 countries.On Jan. 16 CP stock hit a 52-week high of $15.08.The company website is www.cpships.com. The company's principal mar- kets are trans-Atlantic,Australa- sia,Latin America and Asia,Within those markets CP Ships operates in 22 trade lanes,most of which are served by its seven brands:ANZDL, Canada Maritime,Cast,ContShip Containerlines,Italia Line,Lykes Lines and TMM Lines. Graves said the CP vessels could carry pork products from Alaska to Korea. "Koreans like pork products Continued on Page 14 7 NX OMMERCIAL INSURANCE EN Ribelngepell THE ALASKA STANDARD SINCE 1977 561-1250 «800-478-1251 in AK ye DONSEMemseBly42<9a >THs SURF TO WWW.HAWAIIANVACATIONS.COM AND BOOK YOUR TRIP TO PARADISE TODAY! Hawaiian Vacations fares now available for non-stop travelfromAnchoragetoHonoluluthroughNovember5,2003! Did you know that you and your travel |agent can book your reservation online, make payment online by credit card,and print your itinerary,in one easy step? Limited availability,restrictions 5etaxa | x A at83 Call your travel agent or surf towww.hawailanvacations.com or 261-2700 or 800-770-2700 aPage 12 ©March 2,2003 «AlaskaJournal of Commerce A big hurdle for Donlin Creek will be affordable electricity Continued from Page 1 the agreement also gave Placer the option to buy back 70 percent and take back management of the project,which the larger company has now done. Van Nieuwenhuyse said he is pleased with Placer's decision because developing a mine as large as Donlin Creek is too big a project for a small company like NovaGold to take on.It requires a major mining company. Placer is the fifth largest gold mining company in the world and operates 18 gold mines in several parts of the world, according to Rob Pease,manag- er of Placer's exploration group on the project. Although Placer operates large mines,including one in a remote area of New Guinea,Donlin Creek would be its biggest undertaking, Pease told a state legislative com- mittee in Juneau Feb.19. Although Placer will now man- age the project,NovaGold intends to remain actively engaged as a minority partner,particularly in helping with government and community-relations issues. "We have a lot of public support for this project,and I want to make sure this remains,”Van Nieuwenhuyse said. NovaGold's latest gold resource estimate for Donlin Creek is 28 million ounces of gold in ore with a grade of 1.5 grams of gold per ton of ore and about half that amount of gold in higher-grade ore of 3.5 grams per ton,Van Nieuwenhuyse said. Much of this resource is "inferred”between widely-spaced drill holes,he said.As the project is further explored,holes are drilled with closer spacing and the resource becomes better defined,he said. As,Sun 12pm-Spm Dee 2%36th &Arctic feemie562-6234 gaitsST RHR eet ScaneofficeOlympicCenterSeLag1eNeTeEsRelsOeReSag Drilling at Donlin Creek has been done with holes spaced from 25 meters to 100 meters apart,with the closer spacing in areas with higher grades of ore. Where there is geologic continu- ity between the drill holes,the existence of gold between the holes is "inferred,”Van Nieuwen- huyse said. Placer will use a more conser- vative method of estimating the gold resource because,as a U.S. company,securities rules require the estimate to be based on clos- er-spaced drilling,he said. NovaGold is a Canadian company and can publish resource esti- mates that are inferred from more widely-spaced drilling,Van Nieuwenhuyse said. Anew resource estimate is now being prepared for Donlin Creek by both NovaGold and Placer and it will be released in March.It will use Placer's more consevative method of estimating resources, Van Nieuwenhuyse said. The next step for the project is completion of a pre-feasibility engineering study that is now under way by NovaGold and Plac- er.It will be ready by July or August,and will consider options for sizing the project and various alternatives for power supply,Van Nieuwenhuyse. Next would come a full-blown feasibility study,which Placer has committed to finance under the agreement with NovaGold,he said.Placer is also obligated to make a decision on constructing the mine by Nov.13,2007,or else its 70 percent ownership reverts to NovaGold. Donlin Creek would be an open- pit mine and based on current modeling of the ore body,the pit would eventually reach to 600 feet in depth.Van Nieuwenhuyse said that drill holes down to 1,000 feet show that gold-bearing ore extends that deep,so it might be possible for the pit to eventually be deeper. Similar open-pit gold mines in Nevada are as deep as 2,000 feet, he said.An underground mine might also be possible. The mine could be sized to mine from 30,000 tons per day to 60,000 tons per day,and a bigger mine would capture more economies of scale.It would also employ more people,about 600 compared with 450 for the smaller mine,Van Nieuwenhuyse said. However,the initial develop- ment of a large mine requires a bigger capital investment.A 30,000-tons-per-day mine would require about a $600 million investment,while a 60,000 tons- per-day mine would need about $1 billion,Van Nieuwenhuyse said. Those estimates are only for the mine.A power plant capable of generating 60 Megawatts would cost about $80 million,HY Ye cost of an 18-mile road from the Kuskokwim River to the mine site would add another $20 million. International Airport. Continued from Page 11 Corky Caldwell,airport opera- tions director. The airport does have an out- reach program regarding aircraft noise,but,Birch said,the noise is "something that we as a com- munity will just have to sustain.” Meanwhile,the airport's cargo business continues to flourish,with Federal Express, UPS and Northwest Air Cargo operating major hubs. "The business is really maturing,”Birch said."It's due in large part to our strategic location and a good,strong community to be operating out of.And very competitive land- Airport cargo business remains robust ing fees and operational costs. "The rates and fee structure at Anchorage are second to none.It's a function of volume and strategic location.And our competitive fuel rates and the good connections we have for bringing fuel into Anchorage, both locally refined and off the water (barges).” In February the airport announced that it will receive $51.8 million in federal funds over the next six years to help pay for taxiway and runway improvements. Those upgrades will allow Anchorage to become one of six cities to receive service from larger cargo planes,such as the PHOTO/Counresy Teo Stevens ANCHORAGE IWTERAATIONAL AinportAwelderinstallssteeldeckingaspartoftheConcourseCrenovationprojectatTedStevensAnchorage Airbus 380.The Airbus has a wingspan 38 feet wider that the 747-400,currently the largest aircraft in use at the airport.The Airbus also will weigh up to 1.3 million pounds,or 450,000 pounds more than the 747-400. "The airport is responding well to the demands of our growing cargo business,”Birch said."The facilities here are well structured to accommo- date any forecast growth, whether it be Fed Ex or UPS.” Said Caldwell:"We are a world class airport.The planes get in and out of here very effi- ciently with minimal operational delays.And we're world class in terms of snow removal.” fo : snares er ET EE scent seen Fer SerAefi SeCONSTRUCTION Rotisatecesnied re ow ipa naan ne apo MERC AK Traffic Consultants Transportation Consultants 2214 4th Ave. Seattle,WA 98134 Phone:206-682-2817 «Fax:206-682-6804 nl@alaskatraffic.com Wells Fargo Bank Alaska Commercial/Residential Construction Financing 301 W.Northern Lights Blvd. Anchorage,Ak 99503 Phone:907-265-2966 «Fax:907-263-2582 Davison &Davison Legal Services/Construction Law 3351 Arctic Blvd. Anchorage,Ak 99503 Phone:907-563-6555 »Fax:907-562-7873 e-mail:davison@gci.net Digital Blueprint Reprographics 903 W.Northern Lights Blvd.,#103, Anchorage,AK 99503 Paul S.Krous Phone:907-274-4060 «Fax:907-274-4086 e-mail:digiblue@digital-blueprint.com Freeman &Watts Legal Services/Construction, Employment &Personal Injury 4220 B Street,Suite 202 Anchorage,AK 99503 David Freeman Phone:907-561-4222 «Fax:907-562-0575 dfreeman@freemanwatts.com H.C.Price Pipeline,Heavy Industrial 301 W.Northern Lights Blvd. Anchorage,AK 99503 Dave MatthewsPhone:907-278-4400 Fax:907-278-3255 dmatthows@hcpriceco.com ALASKA CONSTRUCTION RESOURCE DIRECTORY 1 YES,I'd like to be included in your Alaska Construction Resource Directory.Runs in 52 consecutive issues of the weekly Alaska Journal of Commerce.One payment of $500. Name of Firm: Address: City: Contact Point: State:Zip: Service or Product: Phone:Fax: E-mail: Method of Payment:(J Bill us. MasterCard (J Discover Name as it appears on card: Credit Card:Ovisa O Account Number:Expiration Date: Amount Authorized: Signature: Please fax,mail or phone this information to: Alaska Construction Resource Directory Alaska Journal of Commerce 301 Arctic Slope Avenue,Suite 350 Anchorage,Alaska 99518 907-561-4772 ©Fax:907-563-4744