Just a quick blog to say Well Done to those involved in getting golf operations working again at Humber Valley Resort, Western Newfoundland, Canada. The River Course is truly a fantastic course and worth every effort to get to ... Have a look at what's there at www.crazyaboutnewfoundland.ca/hvr
Here are a few pics from Gary Kelly's recent visit to check it out.
At last !!!! Deer Lake Airport is declared as an international airport. Shame it didn't happen when British airways was looking for an airport to land prior to going on to New York (direct from City Airport).
Anyway ... its great news - and we all hope that the airport and its management can attract the international traffic the area desperately needs!
Lets ALL hope this will make the difference!!!
DG
_______
Western Star release:
The Deer Lake Regional Airport now holds Airport of Entry status.
The pronouncement of the status, along with $670,000 in new federal funding for the “enhancement of border services” at the airport, was made this morning at Deer Lake Regional Airport’s international arrivals lounge.
The news was delivered by Senator Fabian Manning on behalf of federal Minister of Public Safety, Peter Van Loan.
The immediate impact of the announcement, according to airport manager Jamie Schwartz, will be an increase in the airport’s ability to market itself for international flights.
“It gives us the opportunity to go out and pursue other new routes and other international traffic,” said Schwartz.
For more details, see Tuesday's Western Star.
Today someone sold 240,000 shares in Newfound NV for as low as £0.005p. Yes, that's half a pence per share! If that person had bought when the company (not so long ago) first floated (at around £0.70p), those shares would have cost £200,000 ... and were sold today for £1,400
OUCH!
But perhaps it reflects the rumours I'm hearing about Newfound's possible plans to get back into Humber Valley Resort on Western Newfoundland. The resort is about to come out of CCAA administration and is in a tender process ending next week. Word has it that both Newfound NV, and the original founder of the resort Brian Dobbin are likely to be bidders to regain control of the resort. However the business plan and logic for both is rumoured to be based on being given control of further Crown Land (aka the Expansion Land) by the Provincial Government, and then making their money on selling land to investors, along with a future promise ... [sound familiar??]
I hear from well placed sources that the government has made it clear at recent meetings that they are far from ready to be giving away the additional Crown Land at HVR, and that it will not be allowed to be part of any bid.
Perhaps the stock seller realised that any opportunity at HVR is not likely to match the normal Newfound business model of land sales?
And is Brian Dobbin's commercial plan any different? I suspect it's actually similar to the original HVR plan, and does include the expansion land as its main driver.
What do you think?
Interesting series on TV, DVD & book ... one to watch!
The first part of Billy’s epic ten-week journey sees him arriving in Nova Scotia then heading north to Newfoundland. His journey takes him to the towns where European immigrants first settled, the graveyard where victims of the Titanic disaster are buried and to meet the man who earns a living making scarecrows.
Billy Connolly's Journey to the Edge of the World: episode 1 preview:
The first part of Billy’s epic ten-week journey sees him arriving in Nova Scotia then heading north to Newfoundland.
His journey by boat, motorbike, aeroplane and car takes him to the towns where European immigrants first settled, the graveyard where victims of the Titanic disaster are buried and to meet the man who earns a living making scarecrows.
He also meets the hospitable townspeople who took in airline passengers stranded by the 9/11 tragedy and goes in search of whales and icebergs.
Billy begins his journey at sea aboard the historic Bluenose II schooner, the symbol of which appears on all Nova Scotian number plates, before arriving at Halifax – the town to which almost two million Europeans migrated to start a new life on the edge of the world. Cruise ships now regularly dock at the town and are greeted by pipers and the town crier. Billy looks around Pier 21, now a memorial to immigration, and discovers that 30 William Connollys were among those who emigrated there.
He also visits the Titanic graveyard where he is amused to discover cruise ship passengers are taken as part of their tour. Among the graves is that of ‘J Dawson’, which many tourists believe to be Leonardo DiCaprio’s character, Jack, in the Hollywood movie, ‘Titanic’. But Billy explains that the grave is actually that of a man named Joseph Dawson.
Billy says: “The grave just said J Dawson, but it’s a guy called Joseph Dawson. But nobody seems to be bothered too much about that. So in death he became sexy and Hollywood. Good on him, I say.”
Billy’s next stop is Lunenburg which was once North America’s fishing capital, but years of over-fishing means the cod supply has almost gone and the town now relies on tourism to survive. Commercial cod fishing is now banned, but fishing with a hook and line is permitted so Billy takes to the seas with two fishermen, Ralph Church and Bobby Beringer, to see what they can catch. Bobby tells Billy how he almost died when his boat froze over and started to capsize.
People have been moving to New Brunswick from Scotland since 1753 and the locals have retained their Scottish culture. Billy admits to mixed feelings as he watches the pipers and dancers at their Highland Games and says: “I think it’s a New World thing, a need for something old, and they seem to assume that old means good. There are bits of Scottish culture I just love, and it’s hard for me not to get carried away by it all.”
“The band of Scots that landed here has clung on to its highland traditions and kept them remarkably intact. I think culture should be constantly on the move, forever changing; but people here seem to relish being more Scottish than the Scots themselves.”
The next place Billy visits is Chéticamp where the residents speak French because of the 17th century French colonists who settled there. Billy meets Chester Delaney, a scarecrow maker, in his field of scarecrows which are all made to look like famous people or people he knows.
Next on the agenda Billy dodges wandering moose as he rides a motorbike around Cape Britain’s western shore on the Cabot Trail – one of the top five motorcycle rides in the world.
When he gets to St John’s in Newfoundland, Billy is met with a traditional seafaring way of welcoming outsiders to become honorary Newfies – a ‘Screeching In’ ceremony. The comedian wears a fisherman’s hat, chants, and kisses a fish - by tradition it should be a cod, but since they are in such short supply, a trout has to suffice. Before he gets a certificate proclaiming him a Newfie, Billy takes a swig of a substitute for the Jamaican rum ‘screech’, which is usually drunk at the ceremony. Now a teetotaller, Billy says: “I made do with pop.”
Next Billy visits Gander, a town with a population of just 10,000 which took in 6,500 people stranded when their planes were forced to land there after the 9/11 tragedy. The passengers were there for six days and locals let them stay in their homes and looked after them. Billy meets the mayor when he attends the town’s 50th birthday party, and goes fishing for salmon on the River Gander with hunter/fisherman Dave Brake.
Billy flies to St Anthony where he goes on the hunt for his first sighting of an iceberg. When he finds one he is mesmerised by its colour and says he thinks it looks almost edible, like a meringue.
He says: “The native Inuit, who live in Arctic Canada, believe that icebergs contain the spirits of their ancestors who come back to see them every spring. I love that. I just saw a face. That’s the nose on the left there the upper lips see it coming up and there’s hair at the back, just above the nose you see the eye. See, that’s the way they get you.
“Do you know what I would love to do? I’d love to tow it up the Clyde or up the Thames or the Tyne or the Mersey and let all those kids see it.”
Finally, before he heads further towards the Northwest Passage, Billy stays over at the Quipon Lighthouse which is the most northerly point in Newfoundland and is famous for whale spotting. En route to the lighthouse, in a choppy Atlantic, he is treated to a glimpse of a whale.
Find it on Amazon / Pre-order the DVD on HMV
Or if in UK watch it on ITV 9pm Thurs 19th Feb and then on its ITVPlayer for 7 days thereafter.
Pre-order the DVD on HMV
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The end of Humber Valley Resort (as we know it today) ...
With sadness I have to blog that today Humber Valley Resort Corporation (HVRC) announced that it is to file for bankruptcy. See below for their announcement email.
We can only hope that when everyone including creditors, owners and the local community (& its economy) have got through the next stages of the ongoing process ... what's left of the resort and everyone directly and indirectly involved with it, can grow into that vision and belief that we all had, and mostly still have.
We all share the passion of, & belief in, Western Newfoundland & its people. In fact We're Crazy About Newfoundland.com ... Are you?
Announcement email from Newfound NV:
December 2nd, 2008
Humber Valley Resort Corporation
Dear Owner,
You may recall from our presentation and earlier correspondence that, during the time Newfound has been financing the CCAA process, we also formulated a draft preliminary plan of arrangement that, in our view, gave the interested parties i.e. the creditors and the chalet owners the best result in the unhappy circumstances that Humber Valley Resort Corporation found itself in.
The plan that we had put forward asked the Government of Newfoundland to support it in 3 areas, namely;
* To assist in bringing flights into Newfoundland from the UK
* To work with the local Municipality in their takeover of running essential services on the resort
* Transferring into freehold, the amount of leasehold land that HVRC had already paid leasehold fees on, so that financing of new development could take place enabling the creditors to participate in the resultant profits.
It was not feasible to submit our proposed plan to the Court for approval, or to the creditors and chalet owners to vote on, unless we had some indication of support from the Government, in writing, to it. Conditional support would have been acceptable. The Government have had our proposal for consideration since 16 October. Whilst it is fair to say that we have had encouraging discussions, we have had no confirmation of the Government position, either verbally or in writing. Our initial requested deadline for a decision was 14 November. I was promised on Monday 24 November that, after the Cabinet meeting of 27 November I would be informed of the decision, either way, in writing. I explained during that conversation that we had run out of time as our CCAA protection was due to expire and if I could not submit the plan then I would have no choice other than to withdraw our proposal, which would mean imminent bankruptcy for HVRC. The alternative would be for Newfound to risk a great deal more money as a creditor to HVRC and I do not have Board authority to do so. I was very careful to stress to the Government on Monday 24 November, that I wanted to and was able to continue, but was clear that close of business on Friday 28 November was our absolute deadline for a Government reply. This was, sadly, not forthcoming. I understand, from a third party, that the proposition was discussed as cabinet but there was no resolution. Despite our best efforts, there is nothing further we can do. I am deeply disappointed, as I still believe our ideas were the best possible result in the circumstances.
In these circumstances, I am afraid that we join you all as another creditor, and confirm that HVRC will have to file an Assignment in Bankruptcy, and that bankruptcy is now imminent. I am so sorry not to bring you better news. Should you have any questions, you may, with immediate effect, address them to Mat Harris and his team at Ernst and Young. Derrick White will no longer be in a position to formally help you.
Yours sincerely,
Jayne McGivern
CEO Newfound NV
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Further news from Newfound NV, and Humber Valley Resort. The following letter is from Derrick White the President of Newfound Canada - sent midday 8th Sept. The big surprise is the mention of "winding down and closing" the golf operation, amongst other services. That said, the devil is (as always) in the detail.
It's all very sad - however if its part of a more co-ordinated plan, then it's hopefully a short term pain for a longer term gain for everyone involved including the local economy. Several of the people we've met in the last few days have commented that they wanted big changes for a number of years.
One of the key changes in our view is the need to enable new international routes through Deer Lake airport (& Stephenville if it can attract them!). And one last comment - on various other news services we keep hearing that Europeans want subsided flights to Newfoundland (it was even said on CBC radio1 by a Brit this morning!) - but it's not what's wanted. What we ALL want is simply international routes to be available and flown - not subsidised!
Then again of course to run a flight route requires guarantees - and that's where the provincial government can help. However the passengers are not wanting subsidies!
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HUMBER VALLEY RESORT CORPORATION - CCAA Protection
It is with considerable regret, but with a determination to move forward, that we write this letter to you.As we are sure you are aware, an intensive review of HVRC, its liabilities both fiscal and legal, has taken place. During this process the company has consulted with outside advisors, the Government of Newfoundland and Labrador, and indeed, many of our owners.
The resultant analysis confirms our initial suspicion that HVRC is technically unviable and whilst historic contractual obligations remain, it will always have a liability that is impossible to remedy. Initial attempts to restructure to bring the overhead to a manageable level, met with considerable opposition, threats, implied and actual, of litigation and actually uncovered other breaches that had not been previously documented. The cost of resolution was far greater than the whole asset value of the company.
As per our press release of Friday, September 5, 2008, the company has sought and obtained protection from its creditors under the Companies’ Creditors Arrangement Act (CCAA). The CCAA is a Canadian federal Act that gives financially troubled corporations the opportunity to restructure their affairs through a formal plan of arrangement. This process was begun with a formal application to the Supreme Court of Newfoundland and Labrador where HVRC applied for protection under the CCAA. The court has issued an Order giving HVRC 30 days of protection from its creditors to allow for the preparation of the plan of arrangement. Once the plan has been prepared, the Company will update the market. We did not make this decision lightly. The alternative was to apply for full receivership, and to wind up HVRC. We did not feel that this was in anyone’s interests. Under the terms of the CCAA as previously described, we are able to submit to the court appointed monitor, a plan showing how we may move forward and finally deliver a sustainable resort that is financially stable, which we fully intend to do. Within this process, each of you will have a formal opportunity to submit any claims you feel that you may have to the court appointed Monitor. Ernst & Young Inc. have been appointed as our Monitor.
This action will result in immediate and tangible changes to the operation of the resort. In the coming days the resort will wind down and close the following onsite operations and services: the accommodations, food and beverage, activities and golf. Strawberry Hill will also be closing its rental pool and manor house operations. Flights from Gatwick to Deer Lake will continue as per the scheduled dates on September 11 and 18. The company is presently working hard, as are other local business organizations, all in consultation with the Government of Newfoundland and Labrador, to find a solution to continue the intended winter flight series. At this time we are unable to confirm whether the winter series flights will go ahead. Once a formal determination is made, we shall advise accordingly.
You will undoubtedly have many questions and we will do our best to address them over the coming days. We have formed a team of employees that will address your issues and concerns and each of you will be given a contact name with whom you can communicate directly at the resort. Also, later today, a “Question and Answer” package will be provided along with information regarding the CCAA process.
During the past few days, the company as its first priority engaged in securing and protecting your assets on the resort. At the time of writing, this process continues. As we take this step, we are mindful that it creates a situation that leaves many of you with uncertainty and concern. Please know, that your interests as owners remain a primary consideration as we develop our restructuring plan and move forward.
Regards
Derrick White
President, Newfound Canada
Tomorrow's Humber Valley Resort (HVR) charter flight from Gatwick to Deer Lake airport is apparently to be the last for the summer season, two weeks earlier than planned. Holiday makers due to fly from the UK to Newfoundland are being rung at home to be told that if they take the flight, it is "unlikely that there will be a flight back on the 11th or the 18th".
There are lots of rumours and stories flying around Corner Brook today ... hopefully most are mis-placed!
Whatever ... for various reasons the summer season has been a poor one for Western Newfoundland, the businesses involved in tourism, and all the jobs that are connected directly, and indirectly to it.
It's easy to under value the benefit of international tourism across the area.
The tourism industry doesn't want "subsidised flights". It simply needs the "availability" of flights and routes. What value could tourism be to Western Newfoundland? With provincial marketing, more integrated infrastructure for tourism, and above all full flights, the benefits could be growing businesses, new and more secure jobs, increased provincial HST spend, and a new economy for the Island ... As the mill slowly closes down, and more and more people move (for job reasons) to Western Canada - here is one industry that has true prospects, and with a local benefit - but it needs to be supported and taken seriously at all levels ... Will it?
And guess what ... CrazyAboutNewfoundland.com ... Are you?
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Confusion, rumours & lack of communication ... all adding to the Humber Valley Resort current problems!!
This Thursday's Charter flight "might" be the last for the season - meaning that the last two flights (11th & 18th) might be cancelled. What happens to those who fly out (58+) on Thursday (4th) flight? And others that are on the resort already (currently 150+), some of whom are planning to return during the last two weeks? If you ring now to book ... they'll only sell you a single ticket, (but not return).
No official answer on what is happening, nor why.
Oh, and (ahead of original plan) the Activties Centre closed today! "Last Sunday Brunch" was last Sunday ... Strawberry Hill Resort (which had previously been for sale) seems to be becoming a central feature of the plan (rather than the Club house) ... and there's a rumoured key announcement later this week!
PS Searching for alternative routes out of Newfoundland should we buy a "single charter ticket" ... the flights out of Halifax appear almost 100% full throughout September (due to the collapse of FlyZoom airline) ... there are very few options, actually, none worth considering!
Reinforcing the large issue for international tourism in Newfoundland - and the reasons behind the Humber Direct Air Group
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There is growing activity in Western Newfoundland regarding the need to ensure continuation of direct flights to Deer Lake from the UK (as well new ones from other international hotspots). A group of concerned business people have been meeting in Corner Brook over the last six months, and has now formally launched as "Humber Direct-Air". Those interested has now expanded to a wider circle of business stakeholders, noteable tourism managers, and key politicians.
This is a very positive move, and should be supported wherever possible. I for one look forward to telling you more about their progress. The Humber Direct-Air full press release is below.
Read my previous "Timing is critical" blog ...
or Western Star report on Humber Direct-Air
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________________________________________________
Full Press Release:
HUMBER DIRECT-AIR
Since it’s inception, the Humber Valley Resort has contributed economically to this area in many positive ways. Retailers, tourism operators, restaurateurs, those involved in the building trade, property developers, just to name a few, have seen significant increases in business due to the influx of people from overseas. The spin-off has seen new developments, additional tourism infrastructure, and many new jobs associated with all of this. The direct and/or indirect economic impact, should it be measured, would amount to millions of additional dollars injected into the local economy.
Humber Valley Resort’s success in bringing a direct air connection from the UK to Deer Lake has been an integral part of the overall impact. Western Newfoundland was now just 4-5 hours from one of the largest economies of the world, and the Humber Valley, with all its amenities, became competitive with other world-class destinations. Without this 4-5 hour direct flight, the commute time was considerable longer, thereby reducing our demand as a destination significantly.
As a result of this, a number of business stakeholders have been meeting for the past 10 months to ensure the continuation of the direct flight from the United Kingdom to Deer Lake. To date, the Resort has been subsidizing the cost of this flight, and the stakeholders needed to prepare itself for the eventuality of it been discontinued. The group, informally named “Humber Direct-Air” has been meeting with officials from the Humber Valley Resort, other stakeholder groups and representatives from various federal and provincial government departments to work together to maintain this vital link. The group’s mandate is very specific and very clear, that due to the major economic impact the cancellation of the flight will have on the Humber Valley, that stakeholders will work together with the Resort and others to continue with the direct-air flight.
The next meeting is scheduled for 7:00PM Wednesday (27th Aug 08) evening at the Glynmill Inn, and any person who feels they may be affected by the discontinuation of this flight is welcome to attend.
__________________________
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Google Maps has updated their satellite images for Western Newfoundland, including Humber Valley. Now Humber Valley Resort can be clearly seen from space ...
View Larger Map
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Newfound has announced that company president Brian Dobbin will be stepping aside from his position effective Dec. 31st. In the press release, the company, which owns Humber Valley Resort near Corner Brook, announced Dobbin “will be resigning his Newfound directorships, to pursue personal interests.”
The company said Dobbin’s shareholdings in the company “are unaffected and existing restrictions on the disposal of shares remain in effect.” In addition to the locally well-known Humber Valley project, Newfound has other resort projects in Nevis and St. Kitts. On Dec. 13th, two other Newfound directors provided much-needed working capital for the company.
View press release
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MERRY CHRISTMAS TO ALL
Daniel & Kate
Further to the announcement of 4 December 2007, Newfound N.V. announces that it has raised £3.6 million (before expenses) by way of a share placing to institutional and other investors of 35,807,962 new ordinary shares. This is in addition to the £7 million subscription by Jeremy White and John Morgan, Directors of the Company, announced on 13 November 2007. The Placing Shares are being issued at 10p per share, which is the same issue price as for the Subscription. The price of 10p per share represents a discount to the closing mid-market share price on 4 December 2007 of 14.9%.
Based upon the valuation undertaken by Humberts Leisure, the international leisure business consultants, announced in the Interim Results on 26 September 2007, the pro-forma NAV per share is calculated at 45p per share following the Subscription and Placing.
The proceeds of the Placing, together with those of the Subscription, will be used for general working capital purposes and to allow the Company to pursue its revised business strategy. The
Company's strategy is to:
FOCUS ON THE CONSERVATION OF WORKING CAPITAL IN THE NEAR TERM, INCLUDING, inter alia, reduction of overheads at Humber Valley Resort;
FURTHER DEVELOP ITS CURRENT PROJECTS TO BUILD ADDITIONAL VALUE AND returns, which will include, inter alia, the development of relationships with branded operators and resort funds, driving sales growth through marketing led development, finalising the Nevis masterplan and obtaining outline planning permission, and the pursuit of debt financing for ongoing resort development supported by the assets of the Group;
REVIEW AND ASSESS OPPORTUNITIES FOR BULK LAND SALES, SALES OF LEGACY PLOTS and re-sales;
EXPAND HOLIDAY SALES THROUGH DIRECT AND SPECIALIST TOUR OPERATORS AND partnerships with holiday sales companies for Humber Valley Resort;
EXPAND THE RESORT PORTFOLIO IN THE LONG TERM.
As stated in the Circular to shareholders dated 13 November 2007, there are a number of opportunities in the near term for the generation of additional capital through the operations of the business. In particular, the proposed transaction to sell land at Nevis for the development of a 5 star hotel continues to progress and there are bulk land sale opportunities at both Nevis and Humber Valley that could realise significant cash for the Group. These transactions would provide the Group with a platform from which to continue to develop the resorts at Humber Valley and Nevis. The Company's success in completing some or all of these transactions will, however, inevitably be critical for the prospects of the Group over the longer term.
About Newfound:
Newfound is a creator and operator of international luxury resorts and destinations. The Company has a high quality portfolio of resort projects at Humber Valley in Canada and in Nevis and St. Kitts in the Caribbean.
Humber Valley Resort, with 2,200 acres, currently has over 200 privately owned properties the majority of which are available for rent. It is an all-season, luxury resort offering golf, world-class salmon fishing, sailing, skiing and a luxury spa.
Newfound has an integrated business model based on destination master-planning, which generates revenues from multiple sources, including freehold land sales, construction and development, services to owners, the provision of leisure activities and the operation of concessions.
Newfound is building an industry leading, world-class luxury lifestyle brand offering exceptional holiday experiences in luxurious homes, situated in locations of outstanding natural beauty.
www.newfoundgroup.com
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THE DO LIST: HUMBER VALLEY, NEWFOUNDLAND
NEXT STOP
A TONIC FOR THE SOUL
By Michael Cowton
As a boy I would wander along the southern shore of the Humber, watching the ferry plough across the waters from New Holland to Hull, keeping a ready eye out for the white elephant that my grandfather told me lived in the muddy banks of the river. The irony would not be lost on him now, as a white elephant did indeed eventually emerge – in the shape of Humber Bridge. And now, years later, I find myself once again wandering the banks of the Humber, but I am in a different place, a different time zone, and indeed a different world entirely.
Once upon a time, the thought of a long-weekend hop to Canada would have been laughable. Economy flights and ease of access have since made that a reality. For in today's competitive global marketplace, with tourism a strategic growth factor in many a country's economy, the promotion of multi-season activity is big business. Newfoundland is a good case in point.
With high levels of snow and breathtaking scenery, the west coast is an ideal place to enjoy winter attractions, including a fine network of groomed trails of snowmobilers and first rate destinations for skiers. Yet it is as a summer location that I was interested this time round. I was soon to discover that Newfoundland has so much to offer in terms of outdoor activity. So how do you get to do it all? Better ask yourself, how much time do you have? For while businesses and community groups have been working to develop new products and extend the season, the government has been busy providing funding to a number of businesses and non-profit organisations from Deer Lake to the tip of the Northern Peninsula, thus helping promote the province as a multi-choice, multi-season destination.
Woven around a spectacular golf course, the award-winning Humber Valley Resort is located on the west coast of Canada's most eastern province, and is less than six hours' flying time from the UK. The Humber Valley stretches 70 kilometres from Deer Lake airport to the seaport of Corner Brook. Cutting across this idyllic terrain is the mighty Humber River and the 30 kilometre long Deer Lake. The resort is 20-minute drive from the airport along the Trans Canada Highway, offers luxurious private accommodation and holiday rentals nestling in boreal forest on the north side of the lake.
The splendid wood-built chalets range from three to five bedrooms. There are currently 200 on the sprawling 2,200 acre site, with plans to potentially grow to a thousand. Each chalet is set in a secluded spot with generous pine decking areas surrounded by Canadian Spruce. There is a choice of locations to choose from, including standards. Interestingly, approximately eighty per cent of owners are from the UK and Ireland.
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| From HVR-KDG |
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| From kdg-in-hvr |
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| From Humber River ... |
The first year of WestJet’s seasonal air service drew to a close recently and the company is pleased with the operation.
According to Avery, the company is still hoping to develop into the seasonal service into year round flights out of Deer Lake Regional Airport. Company CEO and president Sean Durfy said WestJet, which recently reported huge third-quarter increases in profits, is committed to increasing its fleet over the next five years.
“We’re continuing to grow our Newfoundland services,” Avery said. “We’ve expanded into Deer Lake of course and our service out of St. John’s has gone year-round and we’re hoping to grow the Deer Lake service as well. “Right now, we couldn’t go year round with the service out of Deer Lake because we simply don’t have the planes we need. But Sean Durfy just announced that WestJet is committed to building our fleet of 737s to 118 by 2013.
Read the full story on The Western Star
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NEWS: Two Directors of the Humber Valley Resort operator (Newfound NV) today agreed to buy 70M shares at 10p to raise £7M, and there is to be a further loan of £500k to ensure sufficent resources to meet its immediate obligations. (Subject to an EGM on 4th Dec)
This is obviously good news for the resort, and for Western Newfoundland tourism ... Full article on forbes.com and offical release on ShareCrazy.com ... though unsurprisingly the stock market reacted by lowering the share price by more than 20% to 16.5p - due to the dilution of the shares.
http://www.forbes.com/markets/feeds/afx/2007/11/13/afx4331513.html
... and out of interest, Humber Valley Resort were promoting on the Canada stand at the trade show "World Travel Market" in London this week (a huge show at the ExCel centre). Met with Catherine and Maria on the stand - and they seemed very busy, and upbeat. More good news! Though as both remindered me, tour operators are currently planning for 12-18 months ahead, so the real effect of all their hard work is a while away. Still positive though! www.wtmlondon.com
The Daily Telegraph
The Western Star
The Mail on Sunday
The Telegram