Pan Pacific Aggregates, the British Columbia-based aggregates company, has completed its BC Hydro cable diversion at the Quadling Quarry in the Fraser Valley District.
The project was completed within budget but, as previously announced, was delayed due to poor weather preventing the helicopter from carry out its work.
The project saw the removal of the 911 emergency cable moved to the west of the quarry in order to give the company access to over one million tonnes of further reserves and lower 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
Chairman Lynda Chase-Gardener said: "The BC Hydro cable diversion project is a large step forward in the development of both the Quadling Quarry and Pan Pacific Aggregates as a company."
House broker finnCap banged the drum for its client, saying: "The company now has a robust and diverse portfolio of assets and a high quality management team that is well equipped to make further acquisitions and grow the business. We see this as being an important attribute, and one that distinguishes it from many others within its peer group."
The broker has a target price of 24.6p for the stock.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
