"Hi Dapper. Any response yet from PEL management?"
Hi Chuck, Yes, i received an e-mail back from Stuart Bell (CEO) about 2 hours after i contacted him. In summary he indicated that they were making a lot of progress and are hoping for a positive outcome for all stakeholders. The Governor of Romblon main concerns are the gold mining activities in the area and the high amounts of mercury being used which is contaminating certain areas in the province. PEL have made it quite clear that they will not be using any chemicals in their mining activities, in fact it will simply be excavating very small areas and shipping the ore to be processed outside the Philippines. He also indicated the situation is extemely sensitive and involves a fair degree of diplomacy. I personally appreciated his promptness in updating me and am of the opinion that the approach he is taking is in the best interests of all shareholders considering the current circumstances. I now intend on holding my shares, however if this situation is not resolved in a positive outcome for PEL within the next 3-4 months i will certainly review this and in all probability sell. Cheers, dapper
PEL Price at posting:
11.7¢ Sentiment: Hold Disclosure: Held
