Sept. 28, 2007
JetGold and Leeward suspend operations in Burma
Ottawa - Canadian Friends of Burma has learned that Vancouver-based Canadian mining companies, JetGold and Leeward Capital, decided to suspend their exploration operations in Burma and withdraw from the Set Ga Done Gold Property.
A statement issued today reasons the suspension for “the recent political instability” in Burma and "increasingly difficult to operate under the inflexible and bureaucratic rules imposed on our operations."
It also said "it has been increasingly difficult to operate under the inflexible and bureaucratic rules imposed on our operations.”
The Canadian Friends of Burma welcomes this decision and also urges other Canadian companies to follow suit, given the proven political instability and the mounting political oppression in Burma.
Early January this year, Vancouver-based Ivanhoe Mines that operates Monywa mines in Burma decided to divest their assets. Ivanhoe holds a big chuck of shares in the two companies.
From Marketwire, here is a message from Jetgold:
Sep 28, 2007 16:53 ET
Jet Gold Corp. and Leeward Capital Suspending Myanmar Operations
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2007) - Robert L. Card, President of Jet Gold Corp. (the "Company") (TSX VENTURE:JAU) reports that Jet Gold and Leeward Capital have decided to suspend their exploration operations in Myanmar and withdraw from the Set Ga Done Gold Property. This action is dictated by the recent political instability and the inability of Quad Energy S.A. to fund the exploration program.
The companies have operated successfully in Myanmar for many years. We have employed Myanmar geologists and geotechnical staff for the last five years in our exploration programs. We have co-operated with the Department of Geological Survey and Minerals Exploration (DGSE) in evaluating the gold potential of Myanmar. However, recently it has been increasingly difficult to operate under the inflexible and bureaucratic rules imposed on our operations.
On behalf of the Board of Directors
JET GOLD CORP.
Robert L. Card, President