The $6 million price revealed for the sale of P&T's mill in the Fort has been described as a 'Fire Sale' in the PG Citizen. Talk persists around town that a bid by a local consortium was over 4 times that price.
Is $6 million the price realized after debts or the total price? That seems to be a fair question that has not been clarified.
There are now many questions to be answered. A suggestion that it may be run at a loss to provide wood chips and a writeoff for the pulp mill in Mackenzie is made in the Citizen article.
But at such a low value, an asset stripping could be viable as well that would see the land and equipment sold off and the wood trucked direct to Mackenzie. The town must stand united to make sure that doesn't happen!
---PG Citizen article
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