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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: Davy Crockett who wrote (5181)12/7/2001 9:19:15 AM
From: Al Collard  Read Replies (6) of 11802
 
TVX-t...in the news:

Post/Reuters say TVX avoids shutdown of Greek operation

Fri 7 Dec 2001

National Post reports in a Reuters dispatch in its Friday edition that
Greece's development ministry says that it has found a way to avoid a
suspension of operations at the Greek division of Canada's TVX Gold.
Reuters's Karolos Grohmann quotes deputy development minister Alekos
Kalafatis as saying, "We have found a temporary solution to get out of this
dead end." He made the comments after meetings with the company, its
employees and northern Greece mining inspectors who had blocked an
expansion of drilling. TVX's Greek division said on Wednesday that
operations at the sliver-lead-zinc mine and mill would stop on Dec. 11,
after a mining inspection forced the company to withdraw drilling 100
metres from its existing boundary. Said Mr. Kalafatis, "Until the final
drilling permit for (the area) under the village of Stratoniki is approved,
we have asked the company to submit an additional study so that we can
examine it quickly and they can restart their drilling work from their
current boundary." He indicated that a temporary drilling permit could be
issued as early as next week, acknowledging, however, that the company had
slightly exceeded its mining boundaries.
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