RE: PP increased to $1MLN.. I stand corrected - just noted a date change in a release that PRO put out at the beginning of March -
The definitive agreement is to be signed on May 15, 2010 instead of on April 15, 2010. "Progress continues to be made in addressing key matters. ScottWilson Roscoe Postle Associates Inc. has completed the site visit inPanama and is currently completing its high-level technical duediligence report, with recommendations leading to a NI 43-101 reportthat is required for the successful conclusion of the definitiveagreement. Also, we are very pleased to state that with the granting ofthis PAMA extension we have now mobilized exploration equipment to theproject and will shortly be sending a hydro-geologist to study thepossibility of using underground water to satisfy the potable waterneeds of the project and the surrounding communities".
Additionally,the Corporation is pleased to announce that the environmental authorityof the Republic of Panama (ANAM) has granted a three year extension tothe environmental management plan (PAMA-Programa de Adecuacion y ManejoAmbiental) allowing for the continued development and construction ofthe Cerro Quema gold project.
Julio Benedetti, President and CEO of Bellhaven commented as follows:
"Thegranting of this extension is a significant milestone for the continueddevelopment of Cerro Quema and allows us to work aggressively withPershimco to bring this project into production".
FT