positive for lafayette

I just saw the following on the net. It's a new article. Nothing definite but it does make me feel like taking a punt on this miner................

Lafayette hopes to restart operations
Email Print Normal font Large font January 13, 2006 - 12:29PM

Australian mining company Lafayette Mining Ltd does not know yet when it may recommence operations at its Rapu Rapu gold and base metals mine in the central Philippines.

Earlier this week, the Philippines government slapped a record 10.4 million peso ($A263,000) fine on Lafayette and halted its operations over two contamination incidents.

Lafayette operations at its Rapu-Rapu polymetallic project site would not be allowed to resume until strict conditions were met.

"We're going through the process at the moment of securing government approvals on a range of things," a Lafayette spokesman said.

"Once we get that we can finish the commissioning process, then we can go into production.

"It's sooner rather than later."

The spokesman was unable to give a more precise time.

He said Lafayette was yet to start mining for base metals at Rapu Rapu but had started producing gold for a few months from July last year.

The Philippines government took action against Lafayette after toxic waste water containing high levels of cyanide flowed into the sea and nearby creeks, killing fish and damaging the environment on October 11 and 13 last year.

Lafayette, through its subsidiary Lafayette Philippines Inc (LPI), operates the mine site in the island town of Rapu-Rapu in Albay province, about 400km south of Manila.

Lafayette shares were 0.5 cents lower at 13.5 cents at 1210 AEDT on Friday.

© 2006 AAP