News blog

Pan Pacific Aggregates

BY: Andrew Hore |
POSTED: 06/01/2012 |
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Canadian quarry operator Pan Pacific Aggregates is negotiating additional borrowing facilities and considering a 100-for-one share consolidation the narrow the share price spread.

William Voaden is stepping down from the board but he will still provide consultancy services. The make up of the board will be reviewed.

Pan Pacific has put things in place to have a successful 2012. Production started at the quarry earlier last year and an important new contract has been won. Investment in road building in the Vancouver area means that Pan Pacific has a strong local market.

The business should be cash neutral by the end of 2012. Pan Pacific should not need to raise any additional cash for working capital if that happens. Any cash raisings would purely be for financing acquisitions.

Pan Pacific is looking at potential acquisitions of quarries around Vancouver in Canada.

At 0.065p a share, Pan Pacific is valued at £2.54m.

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