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Market Chatter: Avanti Mining Reports Progress on Kitsault Project

"A proposed molybdenum mine in northwestern British Columbia could have its Environmental Assessment Certificate by mid-April," Canadian Press reported.

It said: "Vancouver-based Avanti Mining Inc. (AVT.V) says the B.C. Environmental Assessment Office has referred the Kitsault mine project to Environment Minister Terry Lake and Mines, Energy and Natural Gas Minister Rich Coleman. The two ministers now have 45 days to either issue or withhold an environmental assessment certificate or order further investigation."

"In addition, Avanti says it has been told that the project has satisfied effluent regulations, because the Department of Fisheries and Oceans has new information showing tailing ponds won't utilize fish-bearing waters. Avanti Mining president and CEO Craig Nelsen says the latest developments are a milestone for the resurrection of the mothballed molybdenum mine, 140 kilometres north of Prince Rupert."

AVT shares rose half-a-cent to $0.08.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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