I have not had much to say of late as there have been a number of delays to events at PNA.
1. PNA has not been in a position to release their Revised Phu Kham Gold Cap Resource Statement. This was originally due in October but a when the work was transferred to another company /analyst it resulted in a revised date being mid Novemeber. It expected the announcement by w /e 14 November and here we are on 25 and still waiting.
2. PNA has not been in a position to confirm Final Ministry Approval for the Mine Plan. I was expecting this announcment by w /e 21 November. It is my current understanding that the Minister has signalled their support to Gary Stafford and the formalities of the process should now be complete by no later than 15 December 2004.
Bear in mind that PNA has already received approval to proceed with the construction of the mine (which was the key approval to obtain) plus PNA has received an Environmental Compliance Certificate (akin to an operating licence) that gives PNA the green light for mining in terms of satisfying all Lao legal requirements.
I am off to the AGM tomorrow and I hope to have time to provide an update over the weekend to my database.
Kind regards
SCD
PNA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
