Kingking mine still in limbo. St. Augustine Gold and Copper Ltd. of Canada is still waiting for the Supreme Court decision that will end the corporate dispute hindering the Kingking copper gold project in Pantukan, Compostela Valley province. A source said the Supreme Court was expected to release its decision last month but the high court failed to issue the ruling as scheduled. St. Augustine is the developer of the Kingking mine while local partner Nationwide Development Corp. holds the mineral production sharing agreement over the prospect. July 7th The Calalang group and the Ricafort faction groups are contesting control of Nadecor. Corazon Ricafort and her children earlier claimed they were deprived of their right to vote during the annual stockholders’ meeting on Aug. 15, 2011. Conrado Calalang, however, said Corazon’s husband was present during the meeting and even signed the attendance sheet on her behalf. The Court of Appeals ruled that the Aug. 15, 2011 election of the Calalang bloc to the board of directors of Nadecor was valid. The decision, however, was challenged by the other group at the Supreme Court. The government suspended the processing of the mining permit sought by St. Augustine due to the intracorporate dispute. By Anna Leah G. Estrada, Manila Standard Today
Posted on: Mon, 07 Jul 2014 13:37:49 +0000
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