Cadre Resources (CSL.V) Awaiting production #'s and Financ Message Board

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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ

CSL 318.48

+0.6%

Nov 7 4:00 PM EST

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From: KipferlMeister	10/22/2004 9:59:58 AM
	Read Replies (1) of 1285

Cadre gets go-ahead for Caroni River reservoir clean-up 2004-10-21 20:03 ET - News Release Mr. Stanley Sandner reports The Venezuelan Ministry of Energy and Mines (MEM) has issued a positive response to the earlier filing made by Cadre Resources Ltd. requesting concessions and a proposal to remove large volumes of excessive sediments from the lower Caroni River area (Bajo Caroni). In an official letter (Oficio), signed by the director General of Mines dated Sept. 29, 2004, the MEM instructed the company to establish direct contact with Electricidad del Caroni (EDELCA) following the direction outlined in the 1992 decree law appointing EDELCA responsible for the maintenance, preservation and integrity of the Bajo Caroni. Electrical power generation is also part of the (energy) mandate of the MEM. The company, with the assistance of MEM officials, has established contact with senior top executives of EDELCA. The president of EDELCA has appointed a technical committee to co-ordinate with company representatives to work out a plan to proceed with the much-needed removal of the excessive sediments from the dammed hydroelectric reservoirs of the lower Bajo Caroni. It is known that the abrasive sediments cause troublesome, costly and excessive wear on the turbines of the emplaced electrical power generation plants. During the next few days, company representatives have been invited to continue meetings with the said EDELCA technical committee to fully explore mutual co-operation and how best to proceed with the most timely development of this necessary and worthwhile project. The next meeting with the EDELCA committee is scheduled for Friday, Oct. 22. WARNING: The company relies upon litigation protection for "forward-looking" statements.

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