Pan Pacific begins cable diversion
Pan Pacific Aggregates, the British Columbia-based aggregates company, has started on the diversion of the 911 emergency cable at Quadling.
Pan Pacific Aggregates, the British Columbia-based aggregates company, has started on the diversion of the 911 emergency cable at Quadling.
The cable will be moved to the west of the quarry where the reserves have been worked out, thereby freeing up access to new aggregate material.
In a statement the firm said that the development is significant because it further reduces the operating costs by allowing direct delivery of shot rock to the processing unit.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The cost of the diversion, which is estimated to be around C$200,000, will be met from existing cash resources and work will take up to two months to complete.
Managing director William Voaden said: "This development is a great boost to Quadling. It provides access to some of the quarry's best quality reserves whilst minimising processing costs.
"Work has commenced and we anticipate the results will yield financial benefits in 2012."
The share price rose 7.69% to 0.07p by 14:55.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best houses for sale with libraries
This week: the best houses for sale with libraries – from a five-storey Georgian townhouse in Bloomsbury, London, to a 15th-century property with a library in a medieval tower in Lozère, France
By Natasha Langan Published
-
Investors pull money from UK equities as government warns of “painful” Budget
The government’s post-election honeymoon period has been short-lived, and investors are shying away from UK equities as a result
By Katie Williams Published