AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

BAGONG KASUNDUAN: Canadian, PH mining firms amend payment terms over Mabuhay Gold project

AngMinero News by AngMinero News
March 8, 2019
in Business, News
27 1
0
BAGONG KASUNDUAN: Canadian, PH mining firms amend payment terms over Mabuhay Gold project
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Rugby Mining Limited, a Canadian-based mining firm, announced that it entered a new agreement last February 26 with its local joint venture partner All-Acacia Resources Inc. for the payment terms of the Mabuhay Gold project.

The two firms first came into an understanding July 27, 2010 where All-Acacia will give an exclusive option to earn an undivided 80 percent right, title, and interest in the Mabuhay Gold project.

However, the said agreement tagged as the “Mabuhay Agreement” was amended first on July 9, 2013 then later again, giving way for the “Option Agreement”.

The Option Agreement entails All-Acacia Resources having a choice to have Rugby Mining settle their payment in cash or shares. To conform, Rugby Mining will issue an initial payment in the form of 365,000 common shares priced at around $ 0.13 per share or $ 50,000 within 30 days.

All-Acacia Resources will then receive from Rugby Mining in either cash or common shares $ 100,000 within 12 months of initial payment, another $ 100,000 within 24 months of initial payment, and $ 175,000 for final payment.

The Canadian mining company was granted access to the drilling and exploration permit January 23, 2019. This gave Rugby Mining rights to operate in the once one of the Philippines’ highest grade gold producers, an 878-hectare site south of Surigao City in Surigao del Norte.

Tags: All-Acacia Resources Inc.Mabuhay Gold projectRugby Mining LimitedSurigao del Norte

Related Posts

Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government
News

Four Mining Giants Showcase Industry’s Legacy at Baguio Charter Day Exhibit

September 15, 2025
OceanaGold projects increased gold production at Didipio Mine
News

Mine Rehab Costs Drop from PHP 3.5M Hectare to PHP 1.3M Hectare as OceanaGold Adopts New Ecological Approach

September 15, 2025
DENR-MGB Issues Critical Warning on Landslide and Flood Risks Amid Heavy Rains
News

14 New Mineral Lands Under Review by 2026 to Boost Mining Growth

September 12, 2025
Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government
News

Yamang Minerals Ordered to Halt Abra Operations Over Indigenous Consent Violations

September 12, 2025
#AralLakbay Launched: Nickel Asia and CANVAS Bring Climate Lessons to Children
News

#AralLakbay Launched: Nickel Asia and CANVAS Bring Climate Lessons to Children

September 9, 2025
Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal
News

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025

FEATURED POST

Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government

Four Mining Giants Showcase Industry’s Legacy at Baguio Charter Day Exhibit

September 15, 2025
OceanaGold projects increased gold production at Didipio Mine

Mine Rehab Costs Drop from PHP 3.5M Hectare to PHP 1.3M Hectare as OceanaGold Adopts New Ecological Approach

September 15, 2025
DENR-MGB Issues Critical Warning on Landslide and Flood Risks Amid Heavy Rains

14 New Mineral Lands Under Review by 2026 to Boost Mining Growth

September 12, 2025
Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government

Yamang Minerals Ordered to Halt Abra Operations Over Indigenous Consent Violations

September 12, 2025

EDITOR PICK'S

Four Mining Giants Showcase Industry’s Legacy at Baguio Charter Day Exhibit

September 15, 2025

Mine Rehab Costs Drop from PHP 3.5M Hectare to PHP 1.3M Hectare as OceanaGold Adopts New Ecological Approach

September 15, 2025

14 New Mineral Lands Under Review by 2026 to Boost Mining Growth

September 12, 2025

Yamang Minerals Ordered to Halt Abra Operations Over Indigenous Consent Violations

September 12, 2025

#AralLakbay Launched: Nickel Asia and CANVAS Bring Climate Lessons to Children

September 9, 2025

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025

SMMCI, 11 Barangays Ink Local Hiring Agreement in Surigao City

September 5, 2025

Recent News

Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government

Four Mining Giants Showcase Industry’s Legacy at Baguio Charter Day Exhibit

September 15, 2025
OceanaGold projects increased gold production at Didipio Mine

Mine Rehab Costs Drop from PHP 3.5M Hectare to PHP 1.3M Hectare as OceanaGold Adopts New Ecological Approach

September 15, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In