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Business tie-up for Pagan worries watchdog group - Saipan Tribune

Wednesday, January 25, 2006 While endorsing a new potential investor seeking to mine Pagan pozzolan, PaganWatch has raised concerns about the company's association with an old mining permit holder, JG Sablan.PaganWatch spokesperson Pete Perez said that Bridgecreek International Corp. is credible as a potential investor in that it is an established company with verifiable financial assets.According to Bridgecreek's website, the Los Angeles-based company is in the real estate business. To date, The Company reportedly has over $400 million or 2 million square feet of retail, condo, and apartment space. The group also owns and manages More than 1.5 million square feet of space in Southern California. It is also expanding into China.Bridgecreek and JG Sablan, it was learned, have entered into a joint-venture agreement to extract pozzolan from Pagan.Bridgecreek chairman Frank Jao, who attended Gov. Benigno R. Fitial's inauguration earlier this month, and Bridgrecreek chief executive officer John Carlson will return to Saipan in the next 10 days to officially open an office with JG Sablan.For PaganWatch, this agreement is a weakness for Bridgecreek."Since Bridgecreek has no experience in the mining business, they will need to find an operator and JG Sablan's history of worse than non-performance makes The Company - More available

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