Elaine Macdonald, 250 News.com, Feb 27, 2015
Prince George, B.C. – Conifex has released its fourth quarter results, and reports net income of ‘nil’. The 2014 year end net income is reported as $4.6 million compared to $9.5 million for all of 2013. Yet, the company is painting a very positive picture that it just might launch another “capital expenditure plan”.
Conifex says it intends to stay focused on the commissioning and start up of its Mackenzie power generation facility. The company expects the commissioning of the power generation facility to be near completion by the end of March and if the weather cooperates, commercial operations are expected to start shortly thereafter.
Conifex says it is “well positioned to undertake a capital expenditure program designed to improve lumber segment performance. Management intends to further study and prioritize a number of options, including simplification and modernization of the Fort St. James sawmill complex and determination of the optimal long-term configuration for the Mackenzie operations given the recent uplift of allowable annual cut and the potential for additional synergies with the power generation facility.”