PAPUA NEW GUINEA – Significant drill results from Kulu prospect

Queensland-based copper explorer Coppermoly says results from the latest drill program at the Kulu prospect within its Simuku tenement in Papua New Guinea show significant copper mineralization down to 442 metres.

Assay results confirm copper mineralization from 93 metres to 442 metres depth, including 27 metres @ 0.29% copper equivalent from 143 metres and 2 metres @ 0.15% copper and 286ppm molybdenum from 440 metres.

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PHILIPPINES - Court upholds MBMI’s FTAA cancellation

MBMI Resources says it will file another motion for reconsideration to the Philippines’ Court of Appeals in a bid to overturn the decision to revoke its subsidiaries’ financial or technical assistance agreement (FTAA). The Fifth Division of the Court of Appeals decided in March to uphold previous decisions ordering the cancellation of the FTAA.  1

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PHILIPPINES - First Silangan ore on track for 2016

Philex Mining says it is on schedule to produce first ore from the Silangan Copper-Gold project in 2016. The company is pushing ahead with the project’s development, despite senior management’s concerns about a potential moratorium on mining operations in the Philippines.

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PHILIPPINES - Gold Fields secures 40% of Far South East

South African miner Gold Fields has accelerated its investment in a Philippines gold-copper deposit, with a US$110 million share in the second of three tranches. This early payment will bring Gold Fields’ stake in the project to 40%.

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