When Hauer Bros. Lumber Ltd. went up for sale, the Board competed for purchase with other interested parties. The price eventually went beyond the financial capabilities of the VCF.
Another opportunity did arise and the VCF purchased Woodlot #0277. This woodlot is an excellent fit for the community forest as part of it adjoins the area. Inventory and planning continue to evolve on the good addition to the two community forest K2T and K5Q. There has been a bridge purchased to access the woodlot and geotechnical work and planning for safe and secure bridge placement.
Log markets have been strong for the last two years. This has been favourable to diversifying log product, improving infrastructure and looking for opportunities to purchase or attract key complimentary industries to set up on the Valemount Industrial Park.
The Board is no stranger to volatility in the forest industry and so proceeds cautiously in financial decisions. The Board maintains 5 years of working capital to keep the company strong when the markets are low.
As the Valemount Industrial Park Mill gets close to completion and start up (Est June 2021). There is continued interest from future buyers in a diversified lumber product and species. Once the mill is operational, the new opportunities and value added economy will be realized.