Resolute Forest Products expressed the company’s disappointment that negotiations under the auspices of the Canadian Boreal Forest Agreement (CBFA) have broken down after three years of collaborative efforts.

Parties were unable to reach mutual agreement on a workable plan to jointly further conservation efforts while balancing environmental, social and economic considerations in the Canadian boreal forest.

The CBFA was signed by members of the Forest Products Association of Canada (FPAC), including Resolute, and a group of environmental organizations to establish a common framework to further support boreal conservation efforts while safeguarding the livelihood of thousands of citizens in communities that depend on healthy working forests.

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Saskatchewan has created a new provincial park, named Great Blue Heron Provincial Park.

The new park, Saskatchewan’s 35th, is located north of Prince Albert in the area of Anglin and Emma Lakes and protects a total area of 11,168 hectares and contains almost 300 campsites.

The area offers the best of both worlds in this meeting point of parkland and northern forests.  Located at the gateway to the boreal forest, the park allows for great wildlife viewing opportunities, activities ranging from picnicking and hiking in the summer to cross-country skiing or ice fishing in the winter.

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The investigation into the massive wildfires in Slave Lake two years ago is over and no charges have been laid.

On May 15, 2011, 40% of Slave Lake, Alberta was destroyed by wildfire.

Investigators believe the fire was likely caused by humans, but the RCMP have exhausted all their leads without being able to get enough evidence to press charges.

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No new brown spruce longhorn beetles have been found in New Brunswick since the single adult beetle was found in Kouchibouguac National Park in 2011.

The Canadian Food Inspection Agency (CFIA) will continue to monitor about 200 traps across New Brunswick.

There is still an infestation in Nova Scotia. There are restrictions in place to contain and restrict the movement of spruce materials leaving Nova Scotia.

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International Forest Products (Interfor) has reached agreement in principle to acquire the assets of Keadle Lumber Enterprises Inc. of Thomaston, Georgia, USA.

Keadle is a well-regarded producer of high quality southern yellow pine lumber and has been in business since 1947. The mill currently produces 80 million board feet on a one – shift basis. Interfor intends to increase the mill’s kiln capacity and add a second shift to the operation, as market conditions improve, bringing production to an annual rate of 160 million board feet.

The Keadle mill is located approximately 75 miles west of Interfor’s recently acquired mill at Eatonton, Georgia and is part of the company’s strategy to grow its presence in the U.S. Southeast.

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Viridis Energy Inc. has closed the second and final tranche of its $5,000,000 non-brokered private placement announced on April 3, 2013 with the placement of $2,000,000 of units sold under the terms previously disclosed.

The second tranche consisted of 20,000,000 units at a price of $0.10 per unit generating gross proceeds of $2,000,000. Each unit consists of one common share of the company and one-half of one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share of Viridis at any time within five years following the issuance of the warrant, subject to certain conditions, at an exercise price of $0.15 per share during the first twelve month period, $0.20 per share during the second twelve month period, $0.25 per share during the third twelve month period, $0.30 per share during the fourth twelve month period, and $0.35 per share during the fifth and final twelve month period. If the average trading price of the company’s common shares is $1.00 or greater for a period of 30 consecutive days, the company can accelerate the expiry period of the warrants by providing written notice of such acceleration by way of news release, such that the exercise period of the warrants will expire on the day that is 30 days after the date of such news release.

All securities issued pursuant to the second tranche of the Private Placement are subject to a hold period, which expires on September 14, 2013. No referral fee or commission was paid on this transaction.

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Conifex Timber has reported a net income of $6.2 million for the first quarter of 2013 compared to a net loss of $3.6 million for the previous quarter and a net loss of $6.5 million for the first quarter of 2012.

Revenues totaled $66.2 million in the first quarter of 2013 compared to $60.0 million in the previous quarter and $47.4 million in the first quarter of 2012.

Lumber shipments totaled 137 million board feet during the first quarter of 2013 and included wholesale lumber shipments of 17 million board feet. Shipments of Conifex produced lumber increased by 9% over the previous quarter and 4% over the first quarter of 2012 but lagged current quarter production volumes by 4% with some of the shortfall attributable to a tightening in rail car supply which has since eased. An increase in unit gross sales and unit net mill realizations of approximately 19% over the previous quarter largely reflected the quarter over quarter movement in average benchmark lumber prices.

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Ainsworth Lumber Co. Ltd. has reported net  income from continuing operations was $36.5 million in the first quarter of 2013 compared to $0.6 million in the first quarter of 2012.  This increase included a $52.9 million increase in gross profit, an $8.1 million gain on derivative financial instrument, and a $6.2 million reduction in finance expense, partially offset by fluctuations in non-cash accounting gains and losses and income tax expense.

Sales in the first quarter of 2013 were $141.8 million compared to $85.1 million in the first quarter of 2012. The $56.7 million increase was mainly due to a 70% increase in realized pricing that was partially offset by a 2% decrease in sales volumes. Adjusted EBITDA for the first quarter of 2013 was $62.5 million compared to adjusted EBITDA of $9.6 million in the same quarter last year.

Ainsworth President and Chief Executive Officer, Jim Lake said, “I am pleased to report very strong first quarter results as we benefited from the early stages of the U.S. housing market recovery and significantly stronger OSB pricing. During the first three months of the year, we generated adjusted EBITDA of $62.5 million which represented an increase of $20.5 million over the previous quarter and our best quarter in seven years. Adjusted EBITDA margins improved to an impressive 44.1% on shipment volumes of 397.0 million square feet (3/8” basis) and sales of $141.8 million. First quarter production of 408.1 million square feet (3/8” basis) was slightly higher than last quarter, and one of the best quarters for combined production from our three operating mills.”

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Resolute Forest Products has officially inaugurated a major power island producing green energy at its pulp and paper operation located in Thunder Bay, Ontario.

The power island includes a refurbished and upgraded woodwaste boiler and a new 65-megawatt condensing turbine. Approved by Resolute in early 2011, the C$65 million project took just over 21 months to complete.

“The power island is a strategic addition to Resolute’s Thunder Bay facility,” stated Richard Garneau, President and Chief Executive Officer. “It will reduce the mill’s energy costs as well as maximize our local woodlands, sawmill, pulp and paper, and energy operations by fully utilizing forest-based biomass to produce green electricity.”

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Brookfield Infrastructure Partners has reported that it is negotiating the sale of its 25% stake in Vancouver Island forest company Island Timberlands for $170 million.

The sale involves a change in the positions held by the timber company’s existing shareholders and is expected to close in the second half of 2013.

Read more:
Brookfield wants to sell its stake in Island Timberlands (Vancouver Sun)

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