by Richard Gleeson and Doug Ashbury
Northern News Services

NNSL (Jan 16/98) - Though it would not discuss why it is has called a meeting with territorial Finance Minister John Todd, Royal Oak says it has no plans, at this time, to lay off more workers or shut down its Giant mine.

"There are no current plans to lay off more people or shut the mine down," said Graham Eacott, vice-president of investor relations for Royal Oak.

"All I can say is, that, like any gold mining company now, you have to continually review operations in light of the gold market," added Eacott. "Every gold mine has to run profitably."

In November, as a cost-cutting measure, Royal Oak laid off 26 people at operations in Yellowknife and another 44 in Timmins, Ont.

Todd's executive assistant confirmed yesterday that the minister is scheduled to meet with Royal Oak representatives on Tuesday.

"Royal Oak contacted John but didn't say what they wanted to talk about," said April Taylor. "We don't know who will be there or why."

Taylor said Todd has invited two cabinet colleagues to join the meeting, Resources Minister Stephen Kakfwi and Employment Minister Charles Dent.

"I can't make any comment about that meeting," said Eacott. "It's just the normal course of business."

Asked how regularly Royal Oak meets with Northern politicians, Eacott said, "I'm not saying we meet every week, but there have been meetings in the past."

Prior to the mothballing of its Lupin mine, Echo Bay called a meeting with GNWT officials.

Giant has applied to renew its water licence, which expires April 30. The NWT Water Board has scheduled public hearings for Jan. 28 and 29.

It is asking the water board to renew its licence, with the same conditions attached to the present one, for six more years. The application to renew was made last spring.