FENWAY RESOURCES LTD.
Suite 308 - 409 Granville Street, Vancouver, BC V6C 1T2
TEL: (604) 844-2265 FAX: (604) 844-2267
World Wide Web Site: fenwayresources.com or
E-mail: fwy@fenwayresources.com
97-14 NEWS RELEASE September 3, 1997
Fenway Management Leads Development of World Class Cement Plant With Support From Community and Government Leaders
The submission of Fenway's EIS (Environmental Impact Statement) on May 19,
1997, to the PCSD (Palawan Council for Sustainable Development) for the
Palawan Cement Project was an important step for Fenway in its quest to
achieve cement production. The PCSD reviewed the EIS, a voluminous text
encompassing technical, social, legal and financial concerns as they relate
to the environment of the Palawan Cement Project. In a letter dated July
28, 1997, the PCSD transmitted the EIS to the DENR (Department of
Environment and Natural Resources) for technical review, noting that the
PCSD had already authorized the DENR to issue the ECC in PCSD Resolution
96-10, passed at their November 15, 1996 meeting.
As the licensing and permitting requirements advance through the regulatory
system, Fenway has also made engineering progress with cement equipment
manufacturers and with Project financing. Company officers and engineers
have visited very large operating cement plants in Thailand and Indonesia to
make comparisons of equipment that may be used in the Palawan Cement Plant.
Valuable information has been gained which Fenway has used in negotiating
construction financing.
Slow as our progress may seem to some of our shareholders, our progress is
positive. We remind shareholders that the Palawan Cement Plant will be the
largest operating cement plant in the Philippines. As such it will have
immense social and economic impact for the communities, the province and the
nation. Government regulatory authorities have deliberated cautiously to
ensure benefit for the people and protection for their environment.
Through very professional, exhaustive Feasibility Studies and Environmental
Impact Assessments the Palawan Cement Project has shown that the land and
its people will be better off with the cement plant in operation than
without it. In spite of the social and economic benefits clearly cited and
the overwhelming support of the people of Sofronia Espanola, and Quezon
Municipalities, their Mayors and Councils, there remain a few professional
dissenters who continue to protest against the project. Of some 32 active
environmental non-government organizations (NGO's), 29 are developmental
NGO's who contribute to the environmental and social welfare of the Palawan
people, especially the indigenous people. Some of their members have
assisted in professional studies which contributed to the results of the
EIS. Their contribution was valuable and appreciated.
Three other "advocacy" NGO's, however, namely Haribon Foundation, ELAC and
PANLIPPI have appeared at several PCSD public hearings and the July 21, 1997
Senate Hearing and flagrantly misrepresented information about the cement
project. They setup tribal elders Tito Mata and Patente Sapit, whom they
counseled, as self-proclaimed legal counsel for the Domadoway Foundation, to
perjure themselves. At that time Company President H. John Wilson and
Fenway were accused by Atty. Lito Alisuag, President of Haribon, of fraud.
It was, however, Mr. Tito Mata who was fraudulent in representing himself as
Chairman of the Domadoway Foundation that controlled a 2500 hectare
Community Forest Stewardship Agreement (CFSA). Neither the Domadoway
Foundation nor the CFSA exist because their charter was cancelled by the
Securities and Exchange Commission in 1994 and surely Tito Mata's counsel
Atty. Alisuag knew it!
Fenway bears no malice toward tribal elders Tito Mata and Patente Sapit, nor
to their few followers who we feel have been misdirected by their legal
counsel. We only wish they would accept the direction taken by their sons
who are now the legitimate, acknowledged tribal leaders and who have
publicly supported the Palawan Cement Project.
Fenway and some developmental NGO's continue to support the tribal
communities in their present time of need. There is a famine in the region
of the proposed limestone quarry. The Cement Project Proponents have
supplied food, medicine and agricultural supplies while the Proponents wait
for the assignment of the ECC. We have seen no evidence of assistance to
the indigenous people of the region from Haribon, ELAC or PANLIPPI.
The Palawan Cement Project has received strong backing from the very people
who will be affected most. In the week of Sept. 3, 1997, the Community and
government leaders, namely Mayor lber Chou, Mayor Wenceslao delas Alas and
PCSD Chairman/Governor Salvador Socrates, will participate with Fenway and
CPMIC Directors in a briefing to senior National Government officials.
These meetings preceed the Company/DENR discussions that are part of the
definition of terms agreed to between the parties on mutually acceptable
environmental "mitigating measures" before the expected issuance of the ECC.
Thereafter, the Joint Venture Operating Company will be incorporated and the
affairs of the cement manufacturing company will be conducted by management
appointed by the partners.
Concurrent with the continuing development of the Project in the
Philippines, steps have been initiated to restore trading in Fenway's
shares. Various methods are being evaluated to determine the best approach
to restore our listing on the Nasdaq Bulletin Board and the regulatory
procedures required to satisfy all listing conditions to allow trading to
resume.
On Behalf of the Board of Directors
H. John Wilson
President
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Fenway Resources Ltd.
Suite 308 - 409 Granville St.
Vancouver, BC
V6C 1T2
Phone 604.844.2265
Fax 604.844.2267
www.fenwayresources.com |
