CANADIAN MINER GETS ULTIMATUM IN SOLOMONS

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HONIARA, Solomon Islands (SIBC, June 29) –

The government has given Pacrim Resources Solomon Islands Limited 21 days as of yesterday to make written submissions on matters relating to a possible breaches of both the Mines and Mineral's Act and its prospecting licence.

The company's licence to do nickle prospecting on San Jorge and Takaka Islands in Bugotu, Isabel province, expired in November last year. It is seeking to renew the licence.

[PIR editor’s note: Pacrim Resources is based in Oakville, Ontario, Canada.]

But Mines and Energy Minister, Basil Manelegua in a letter to Pacrim Resources says a renewal will be granted if he is satisfied that the company's application for renewal complies with section 24 Six of the Mines and Mineral's Act.

Minister Manelegua says before he makes a decision on the matter, the company can if it wishes, provide him with written submissions within 21 days on various matters.

He says among those issues cited as breaches to the Mines and Minerals act is the alleged failure by the company to pay a sum of US$406,000 or provide a security bond.

Mr Manelegua says the company also failed to provide quarterly reports and complete reporting within three months of completion of exploration, a breach to condition four of the third schedule of its licence.

He says other alleged breaches of the Act and licence include failure by the company to get approval from the Isabel Provincial government and the chiefs in the relevant area.

The Minister says Pacrim Resources must make a written submission on those matters within 21 days.

June 30,2005

Solomon Islands Broadcasting Corp.: http://www.sibconline.com.sb/

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