Pan Pacific complete cable diversion

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.

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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.

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