The above link is not working, here is the text from the front page article in the Otago Daily Times, 10 August.
"Concern is building around the impending sale of Treble Cone ski area, as are fears the resort's could be stripped of its assets and closed
A local consortium of six people, representing about 25 investors, has emerged as a serious contender in a bid to ensure the popular field stays open.
Cardrona Alpine Resort, owned by the Veall family, of Melbourne, is also understood to be interested in purchasing Treble Cone. However, no-one from Cardrona or the consortium was prepared to comment because of confidentiality clauses signed with Tourism Holdings Ltd (THL), the owner of Treble Cone.
Treble Cone has been on the market for about three years but yester- day THL managing director Dennis Pickup said the company was in the middle of positive negotiations and an outcome was possible within two months, possibly sooner.
Mr Pickup would not comment on the asking price. However, it is understood it is between $4 million and $6 million. It is also understood bids to date have been below the bottom line of $4 million.
In 1996, Treble Cone paid a reported $4.5 million to install a six-seater chairlift. The company has also invested heavily in snow-making equipment. The book value of the field is understood to be $6 million to $8 million.
The prospect the whole field could sell for less than the cost of the chairlift has raised concerns around Wanaka that a ruthless purchaser could take the six-seater out and close the field.
However, Mr Pickup dismissed that notion yesterday: "No party we are dealing with has any intention of closing the field."
Factors counting against a high sale price are believed to be the field's income potential, maintenance costs, depreciation and the short, erratic nature of the ski season.
Treble Cone is known for its advanced and intermediate terrain. In its favour is the growing popularity of the field, the improving standard of mountain users due to better equipment and the fact the snow was excellent early season with good skier numbers.
The six-seater lift is the only one of its type in the Southern Hemisphere."