11th Jan 2006 07:00
Pan Pacific Aggregates PLC11 January 2006 news release For immediate release: 11 January 2006 PAN PACIFIC AGGREGATES PLC Signing of Participation Agreement Sechelt, B.C. Pan Pacific Aggregates plc ("PPA") and the shishalh Nation(Sechelt Indian Band) today announced the signing of a Participation Agreementthat establishes a framework for implementation of their Memorandum ofUnderstanding signed last October. The Participation Agreement (PA) also pavesthe way to develop the process for future discussions. On October 14th, 2005, PPA and the Sechelt Indian Band signed a Memorandum ofUnderstanding that set the foundation for discussions regarding the developmentof joint business opportunities, related to PPA's proposed mining developmentswithin Sechelt Indian Band territory on the Sechelt Peninsula. "The signing ofthe Participation Agreement reinforces the commitment of both the Sechelt IndianBand and PPA as we seek opportunities that will garner social and economicbenefits." said Sechelt Indian Band Chief Stan Dixon. Chief Dixon also said " It has established a business to business relationshipthat reimburses the Sechelt Indian Band's constitution exercise toward a mutualbenefit that sets a pattern for understanding our Aboriginal Rights and Title.Furthermore, the Participation Agreement will facilitate the preliminaryassessment of the potential impacts that PPA's proposed project may have uponshishalh Nation rights and title." "The Participation Agreement is an important and significant step for bothparties." said Don Nicholson, PPA's Chairman and CEO. "It reflects ourcommitment and further reinforces the principles of mutual respect necessary fora potential working relationship between PPA and the Sechelt Indian Band." PPA is a publicly traded, asset holding company registered in the UnitedKingdom. The assets of the Company include: Pan Pacific Aggregates Ltd., awholly owned subsidiary incorporated in British Columbia, Canada in November2004; Consolidated Tri-Sil Minerals Inc., acquired in January 2005 (97.3 percentof the share capital); and Global Industrial Services Canada Inc. acquired inMarch 2005 (100 per cent of the share capital). PPA's proposed mining operationson the Sechelt Peninsula are within the territory of the Sechelt Indian Band.PPA is committed to building a strong long-term relationship with the SecheltIndian Band. Enquiries to: Don Nicholson, Chairman and CEO 001 604 637 7581 Alan Whitehead, COO 001 604 637 7581 William Voaden, Non-Executive Director 020 7628 3989 Louis Castro/Alex Collins, Insinger de Beaufort 020 7190 7000 Simon Rothschild, Bankside Consultants 020 7367 8871/07703 167 065 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Adm Energy