Padaeng Industry Co Ltd (PDI) reported further progress with its investment projects and the purchase of shares in its subsidiary as follows: PDI previously reported that on June 21, 1994 it signed a contract with the US-based Phelps Dodge Mining Company to jointly invest in three copper prospecting and mining projects in the Loey, and other nearby provinces. The move was in accordance with a resolution at board meeting no.1/1994 on March 25, 1994. Details of the joint investment appeared in the SET-Daily on March 28, 1994. A resolution at the same board meeting was also made to shelve the zinc and lead smelting project by purchasing the 980,000 remaining shares of its subsidiary, South East Asia Metals Co Ltd, from its foreign co- investors, the Metallgesellschaft AG group from Germany. South East Asia Metals Co Ltd had been specifically set up for the project. On June 21, 1994, the above shares worth Bt7.007 million at Bt7.15 par were transferred to PDI. Translated by The Na