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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (1436)	3/27/2001 12:12:24 AM
From: Nick Morvay	Respond to of 11802

V.APK news: Altek receives application approval from Fort Macleod Altek Power Corporation APK Shares issued 25,894,960 Mar 26 close $0.40 Mon 26 Mar 2001 News Release Mr. Dale Peterson reports The Town of Fort Macleod has approved the application of Altek's wholly owned subsidiary, Altek Independent Power Corp., for a development permit to develop a 100-megawatt power generation facility at the property located at Block 19,20,21 Plan 3370, Fort Macleod, Alta. The development permit was approved with conditions relating only to noise abatement, landscaping and berms, and a further condition that requires the town and the company to enter into a development agreement for the servicing of the property. A development agreement is a standard condition in developments of this nature. The memorandum of understanding entered into between the town and Altek, announced in Stockwatch March 6, 2001, deals with many of the items that will be dealt with in the development agreement and accordingly the company does not anticipate any unexpected delay in putting the development agreement in place. The company anticipates the development agreement should be concluded over the course of the next two weeks or so. The approval of the development permit allows Altek to move forward with the completion of the first phase planning and permitting together with its joint venture partner Texas -- Australia Power Inc. The first phase of the project contemplates the production of approximately 45 to 50 megawatts of electricity. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com