• Mankayan mineralization is open at depth

    EXPLORATION by former joint venture partner Gold Fields on Bezant Resources’ Mankayan Copper-Gold Project shows mineralization to be open at depth with grades broadly consistent with Bezant’s JORC-compliant resource estimate. This was revealed after Bezant obtained all data generated by Gold Fields following its withdrawal from the JV.

  • Positive results from Itogon drilling

    ECR-outcropECR Minerals has received positive results from reverse circulation (RC) drilling at the Itogon epithermal gold project. Results demonstrate the existence of high and very high grade narrow vein hosted gold mineralization with lower grade mineralized haloes. Sections consisting only of low grade mineralization are also evident.

  • Gambang exploration on hold

    ROYALCO Resources’ exploration activities in the Philippines are on hold pending phase 3 renewal from the Mines and Geosciences Bureau (MGB). This phase covers the Cableway prospect which is the highest priority target in the Gambang project tenements.

  • Medusa increases Co-O production

    Medusa-crushed-oreMEDUSA Mining produced more gold from its Co-O project on Mindanao during the March quarter than in the previous quarter but was short of forecasts due to flooding in January. There were 16,200 ounces of gold produced at an average head grade of 4.20 grams/tonne and cash costs of US$398 per ounce.

  • Comval placed on care and maintenance

    METALLUM Ltd, formerly Mining Group Ltd, has scaled down activities at its Comval Copper-Gold Project in line with its new strategy to focus on the El Roble Copper Project in Chile given that project high-grade, near-term production potential. The company is undertaking care and maintenance at Comval, working with local communities to ensure ongoing support for any future activities by the company.

  • Cadan initiates company review

    Cadan-CSRAFTER surviving a difficult 12 months through Board and management disruptions, limited access to funding and legacy issues impacting production at its T’Boli operation, Cadan Resourceshas commenced a strategic review. The review was announced in early May and is expected to take three to four months to complete Cadan’s president and CEO Peter Cunningham is managing and directing the process and has committed to provide an update by the end of June.

  • Sierra acquired by RTG Mining

    Sierra-MabiloSIERRA Mining has received further outstanding results from ongoing drilling at the Mabilo project in Luzon. After receiving these results Sierra became part of a new merged entity with RTG Mining. Canada-based RTG purchased all the shares of Sierra.

  • St Augustine focus on de-risking King-king

    ST Augustine Gold and Copper is focusing on key de-risking activities at the King-king Copper Gold Project in Mindanao with a goal of moving the project to construction in 2015 and ultimately reaching production in 2018. After completing a preliminary feasibility study (PFS) in 2013, the main activities this year include securing permits and funding.

  • Crazy Horse proposes amalgamation

    CRAZY Horse Resources has entered into an agreement regarding a proposed transaction with Ballyliffin Capital Corp, a capital pool company company listed on the TSX Venture Exchange. The amalgamation, in accordance with the Business Corporations Act (British Columbia), will create a new company under the name Asia Arc Inc.

  • Runruno now financed to first gold

    Metals-Ex-mining-accessPreparing access roads to the open pit at the Runruno Gold Project.METALS Exploration has entered, via its subsidiary FCF Minerals Corporation, into a senior secured project financing facility for up to US$83 million. The debt facility, along with existing equity funding available to the company, will be applied to ongoing development and construction of the Runruno Gold Project and is forecast to provide sufficient funds to achieve production.

  • High grade results from SWB shoot

    Red-Mt-drillingRED Mountain Mining has received high grade results from two diamond drill holes aimed at extending the South West Breccia (SWB) resource at the Lobo section of its Batangas Gold Project. The company has also started a definitive feasibility study (DFS) for Batangas with completion expected by December 2014.

  • B2Gold assesses Masbate mill expansion

    B2GOLD is undertaking a metallurgical sampling and analysis program in order to assess the potential for a mill expansion at the Masbate Gold Project with conclusions expected in the fourth quarter of 2014. A mill expansion would allow the company to take advantage of opportunities to process additional ore, allow for full utilization of a new SAG mill and optimize process plant gold recoveries.

  • DMCI takes control of ENK

    DMCI Holdings is taking full control of UK-listed mining firm ENK Plc, which is focused on developing the Acoje Nickel Project in Luzon. In a disclosure to the Philippine Stock Exchange, DMCI advised that it had acquired an additional 40% stake in ENK from D&A Income for GBP42.03 million.

  • Red 5 begins Siana remediation work

    The open pit at Red 5’s Siana Gold Project in northern Mindanao.RED 5 Limited has commenced remediation activities requested by the Philippines Department of Environment and Natural Resources (DENR) in order to recommence mining operations at its Siana Gold Project. The company believes that this work will take 6-8 months to complete prior to commercial milling activities commencing.

  • Double Concept invests in Intex

    AS part of its new strategy for the Mindoro Nickel Project, Intex Resources has agreed to sell 8.9 million treasury shares representing 9.71% of its outstanding shares for proceeds of NOK20.025 million (about US$3.334 million). The buyer is Double Concept Investments, a Hong Kong-based company controlled by Alfonso Cusi and Wilfredo Fernandez, who are members of the Board of Directors in Intex Resources Philippines.

  • Intex refines Mindoro strategy

    Intex-drill-rigINTEX Resources is advancing along the path towards making the Mindoro Nickel Project a more Philippines’ orientated operation in order to advance it towards production. “Mindoro Nickel belongs to the Philippines and therefore we follow the path to get there,” says Intex CEO Henno Grenness.

  • Mindoro repays TVI Pacific loan

    MINDORO Resources has repaid outstanding principal and interest in the amount of $399,176 due to TVI Pacific as part of a secured promissory note for Can$1.3 million arranged last year. The payment helps ensure Mindoro’s ongoing participation in a number of joint ventures with TVI Pacific and its Philippines affiliate TVI Resource Development (Phils) (TVIRD).

  • Agata proceeds to development

    TVI-Agata-North-depositTHE Agata Mining Joint Venture of TVI Pacific, Mindoro Resources and TVI’s Philippine affiliate, TVI Resource Development (Phils), (TVIRD) has received the Declaration of Mining Project Feasibility (DMPF) which authorizes the JV to proceed to development of the Agata project in Agusan del Norte, Mindanao. This allows for extraction and sale of iron, nickel and other associated minerals in the contract area.

  • PHILIPPINES - Flooding curtails quarterly production

    Medusa Mining produced more gold from its Co-O project on Mindanao during the March quarter than in the previous quarter but was short of production forecasts due to flooding in January.

  • Runruno construction on schedule

    THE construction phase of Metals Exploration’s Runruno Gold Project is proceeding on plan and within budget. The focus is to complete construction at the earliest opportunity without compromising safety and quality, with the objective of commencing commissioning in final quarter of 2014.

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