The Gwaii Trust is looking into how it could fund the Council of the Haida Nation's plan to buy the tree farm licence on Graham Island.
The idea was made public at the protocol meeting in Port Clements on July 25, when CHN president Guujaaw said he had written to Gwaii Trust chair Miles Richardson asking under what circumstances the trust's principal could be used.
Gwaii Trust executive director Tanu Lusignan told the Observer the idea was news to him last week, and he and Mr. Richardson were just starting to consider it.
The Gwaii Trust was formed in 1994, with a principal of $38-million, which has since increased by $10-million, even though numerous projects have been funded.
Its constitution says it may "make advances from the capital of the fund to finance achievement of the other purposes of the societyÂ…", while its business plan says "the fund is established as a 'perpetual' investment fund. This means the principal ($38.2-million) can never be touched, allocated or expended".
Mr. Lusignan said he and Mr. Richardson are aiming to have more information available on August 24.