Adm Energy Regulatory News (ADME)

7 Aug 2006 09:17

Pan Pacific Aggregates PLC07 August 2006 7 August 2006 Pan Pacific Aggregates Plc Acquisition of waterfront property for proposed deepwater ship loading facility Further to the announcement by Pan Pacific Aggregates plc (the "Company") on 12July 2006, the Board is pleased to announce that it has completed theacquisition of 2.23 hectares of waterfront land on the Pacific coast side of theSechelt peninsula, the location of the Company's Sechelt Project for a cashconsideration as stated in our previous announcement. Pan Pacific AggregatesLtd, a wholly owned subsidiary of the Company, is the new registered owner ofthe property effective 31 July 2006. Subject to environmental and other regulatory permits, the Company intends touse this land to site a ship loading facility for the future transport ofindustrial minerals and construction aggregates from the Sechelt Project tocoastal markets in British Columbia, the USA and Asia. William Voaden stated that: "The proposed development of this land as a deepwater facility should significantly enhance the economics of the SecheltProject, allowing the company to load into specially designed bulk cargo shipsrather than the original proposal for barging material to market. Therefore, thedevelopment should substantially reduce the use of barges through theenvironmentally sensitive Skookumchuck Narrows on the inland side of the SecheltInlet." Enquiries to: William Voaden, Interim Managing Director 020 7628 3989 Alan Whitehead, President and Chief Operating Officer +1 604 637 7581 This information is provided by RNS The company news service from the London Stock Exchange