A mining firm in Surigao del Norte has obtained a recommendation from the Mines and Geosciences Bureau (MGB)-Caraga regional office in Surigao City for the lifting of the cease and desist order against the company.
In a document obtained by MindaNews on Wednesday afternoon, Daniel S. Belderol, officer-in-charge of MGB-Caraga said they had issued a memorandum recommending for the lifting of the cease and desist order against the mill plant of Greenstone Resources Corporation.
The firm operates for gold and silver in Tubod and Mainit towns in Surigao del Norte.
Belderol issued the memor ...
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A wholly owned subsidiary of listed miner Philex Mining Corp. plans to raise P7.2 billion by issuing convertible notes to partly finance a feasibility study for a mine in Surigao del Norte.
In a disclosure yesterday, Philex said that its board and that of Silangan Mindanao Exploration Company, Inc. (SMECI) "approved the offer and issuance of Convertible Notes (CN) by SMECI (the Issuer) amounting to P7.2 billion."
SMECI is the holding company of Silangan Mindanao Mining Co., Inc., which in turn develops the Silangan project located in Surigao del Norte.
"The proceeds of the CN [convert ...