26th Aug 2009 09:58
PAN PACIFIC AGGREGATES PLC
UPDATE RE OPERATING PERMIT
Pan Pacific Aggregates plc ("PPA" or the "Company"), the British Columbia-based aggregates company, announces that, following the announcement on 24 July 2009, a public information meeting was held on 25 August 2009 to discuss a Soil Removal Application made by Pumptown Quarry Inc and improved access to its quarry. The Soil Removal Application allows the Company to operate the quarry.
The purpose of the meeting was for the City of Abbotsford to receive feedback and comments from the public on the applications made by Pumptown Quarry Inc, together with the access road.
The meeting will result in a report to be written by City of Abbotsford staff to be presented to the Council for ratification on 14 September 2009.
The Company is seeking to raise further funds in the near term; for working capital which will include construction of the access road, early redemption of the RAB loan notes (as set out in the Deed of Variation announced on 30 March 2009) and a deposit on processing plant for Pumptown.
A further announcement will be made in due course.
Managing Director, William Voaden, commented:
"In the last twelve months the Company has overcome many obstacles in relation to both funding and re-starting its operations. The public information meeting was positive and the Board is confident that a decision of the Planning Committee will now be ratified by the full Council on 14 September 2009".
For further information, please see the Company's website, www.panagg.com or contact:
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Pan Pacific Aggregates plc |
Tel: +44 (0) 20 7096 9580 |
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William Voaden |
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Dowgate Capital Advisers Ltd |
Tel: +44 (0) 20 7492 4777 |
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James Caithie / Aaron Smyth |
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VSA Capital Limited |
Tel: +44 (0) 20 7096 9589 |
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Paul Backhouse |
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Lothbury Financial Limited |
Tel: +44 (0) 20 7011 9411 |
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Michael Padley / Libby Moss |
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