Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Paramount Ventures & Finance -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (3163)	9/3/1999 9:47:00 AM
From: Just G	Respond to of 4884

Canabrava and Paramount present Rio do Sono project plan in public hearing Paramount Ventures & Finance Inc PVF Shares issued 27,591,374 Sep 2 close $0.50 Fri 3 Sept 99 News Release See Canabrava Diamond Corp (CNB) News Release Mr. George Plewes reports Canabrava Diamond Corp. and Paramount Ventures & Finance Inc., have provided the following update on the Rio do Sono project in Brazil. The joint venture is developing the alluvial diamond resources on the Rio do Sono River in the State of Minas Gerais, Brazil. As part the environmental review process associated with the application for a mining licence, a public hearing was recently held. At this hearing, the joint venture's mining plan was presented and it was determined that the project is of sufficient size and scope to require a full environmental impact study (EIS) before a full mining licence can be issued. This process is estimated to take about three months. Exploration and preparatory work will continue while the EIS is being completed. Further updates will be issued as soon as new information becomes available. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: russet who wrote (3163)	9/3/1999 10:53:00 AM
From: Lazarus Long	Read Replies (2) \| Respond to of 4884

russett, I understand why you are PO'd as I think they could handled that release a lot better but lets look at it objectively. I know here in BC, where I live, I have worked on placer gold operations in the Caribou and I know from personal experience whenever you get into active river channels there is real environmental concern and it does make it more difficult in todays climate to work. Not impossible but more difficult. As anyone knows who reads a paper, Brazil is being inundated by environmental groups that are using political pressure, boycotts etc. to advance their own agenda. Maybe it is only the farmers or illegal miners that are putting on this pressure the reality is we can still test, as permit is in place, and explore. I don't know what their plans are down there but from the first conversations I had with PVF/CNB they always intended to move up into the terraces and continue mining during the rainy season when the active river channel becomes to active to work. Maybe that is a possibility they are exploring but reluctant to talk about it until they get a permit. We also have the meeting Kennecott mid-month to get the results of the summer work program and we should hopefully see something on that by the end of the month. I do not think that we are going to be sitting on the shelf in a news vacuum for the next 3 months. Lazarus