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Gold/Mining/Energy : Fenway Resources Ltd. (FWY@V)
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To: Bohdan who wrote (42)12/13/1996 7:59:00 AM
From: donald sew   of 135
 
Bohdan,

I may be wrong with my position - the ECC approval is basically the final permits. The environmental was a very major matter, whereby GREENPEACE was even involved. My understanding is that the environment approval was the final obstacle in obtaining the permits, then its just a matter of "dotting the I's". If I am wrong, request anyone to correct me.

When I first started investing in FENWAY, it was my understanding that once the environmental was passed then the financing would be approved. They had already received the intent from the financiers in MAY, subject to FENWAY getting the environmental (which they did). Only after the environmental is approved then the financing would be finalized.

It is also my understanding that now the financing is in place, they can start construction, and that such would start in JANUARY.

If I am not correct on any of my beliefs, anyone please advise me.

Bohdan, so the way I read it - its a done deal and construction will start soon.

Seeya
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