Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
Page 21
Page 22
Page 23
Page 24
IndustryMining11TuesdayJuly232013Visitnwtel.caByJACKDANYLCHUKLikeeveryoneelsewhoboughtintotheDeepakIn-ternationalLtd.storytheDehChoTravelConnec-tionhopesthecompanycandeliveronitspromisetore-launchtwofactoriesinYellowknife.ThroughapromotionaimedatdrawingrubbertiretouristsNorththeorgani-zationisofferingachancetowina.5karatdiamondengravedwiththePolarBearlogothattheterrito-rialgovernmentassignedtoDeepakInternationalDILlastJanuary.ThecontestclosesOct.31buttheformerfactoriesonwhatwasDiamondRowinYellowknifestillsitsilentandemptywithnowordfromDeepakKumarDILspresi-dentandCEOaboutwhenhewillbuythebuildingsandopenthemforbusiness.MikeCouvrettewhoman-agestravelpromotionfortheDehChoTravelConnectionremainshopefulifnotcon-dentthatKumarwilldeliveronhispromise.WehaveacommitmentCouvrettesaid.Wewouldpreferthatthediamondhasthepolarbearlogo.ButifthatisntavailablewewillofferaCanadiandiamond.KumartoldTheJournalearlythisyearthathewouldcompletethesalethisspring.InMayhesaidthefactorieswouldopenthissummer.LastweekKumarsaidhewouldrevealtheopeningdatebyFridaybutthedaypassedwithoutanannouncement.DespiterepeateddelaysinclosingthesaleMinisterofIndustryTourismandIn-vestmentDavidRamsaybe-lievesKumarcancomeupwith1.795millionforthebuildingsandrestoreYellow-knifesreputationasNorthAmericasdiamondcapital.Ramsaysaidthedelayisunderstandablegiventheesti-mated50millionDILneedstoequipthefactoriesandse-cureasupplyofdiamonds.Itsabigdealfromtheproponentsperspective.ItsnotasmallundertakingRamsaysaid.ThegovernmentgrantedDILapprovedmanufacturerstatusanduseofthepolarbearlogoonthestrengthofduediligenceperformedbyadvisorsinhisministryRamsaysaidbutadmittedtherewasnootherchoice.DILwastheonlycompanytoansweraRequestforPro-posalthegovernmentissuedinOctober2011.ItofferedanyqualiedmanufacturerthepackageDILreceivedifitwouldbuytheArchibaldStreetbuildingsandllthemwithbusydiamondcuttersandpolishers.Ifwecouldrecoupourcostsonthebuildingsandgetsomefactoriesopenand30to50peopleem-ployedinthosefactoriesthatsagoodthingforthegovernmenttobedoingRamsaysaid.Whywouldntweap-provesomebodylikethatWeneedtotakesomechances.AttheendofthedayitsgoingtobeonDeepakInternationalandtheirabilitytomakethiswork.Mybeliefisthatitsgoingtohappen.DeepakdiamonddealstillshinesforGNWTPhotosJackDanylchukDeepakKumarManyNortherncompaniesarehopingDeepakInternationalLtd.willbreathenewlifeintothedormantfactoriesonArchibaldStreet-onceknownasDiamondRow-inYellowknife.