3Power Energy Group Inc (PSPW)

[davied25]

Called the Shala office in Tirana this morn. Ms. Sokoli is very nice but can only talk about Shala related things (I asked about the late filing, just to see).

Nothing substantially different from when I called in June. The company is still working through the permissions with the government for environmental, ecological, etc, which could take a maximum of 18 months (I think she threw that in to cover herself, but thats my opinion). I asked about GR Albania and was told that yes, they are doing some of the work. I was told that we will see mention of the project/granted permissions in the relevant online government resources when approval is completed.

It was also suggested to look at other recently aproved concession contracts with the government that are available to see (since ours is not) to get a clearer view of what they're working through, as they are very similar. Again, nothing new, but still good to know where things are at.

Given the environmental issues with the original project, it's not a surprise things are as quiet as possible to avoid potential derailments of the permissions (see: websites taken offline/parked, no word in the public notebook on or around the April 4th approval date, news article taken down from April 28th that had Minister Gjiknuri mentioning Shala moving forward).