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

Usapang ginto: Diwalwal miner sells shares to Aussie gold producer

AngMinero News by AngMinero News
January 17, 2019
in Business, News
27 1
0
After six years, tax reduction on gold sales reaps rewards
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Prometheus Developments Pte. Ltd., the Singapore-based company that holds rights to a high-grade gold project at the Diwalwal Mineral Reservation, sold its shares amounting to 5.5 million to an Australian gold producer.

The said Australian gold producer named Tribune Resources Ltd. reported its acquisition of the 100 percent issued capital of Prometheus.

The transaction between the two companies was valued at $ 24.75 million or equivalent to $ 4.50 issue price per share.

Prometheus can get a total of 80 percent economic interest in three mining tenements covering the Diwalwal Gold Project. This is near the currently productive Co-O gold in Mindanao, 40 kilometers south.

In a statement by Tribune director Gordon Sklenka, it was revealed that the Diwalwal mines fit all the standards the company is looking for in their efforts to add value for their shareholders.

Diwalwal’s secured tenure, excellent grades, prospective geology, and potential for the delineation of a very large gold deposit were big factors on why Tribune got interested in the project which resulted to the deal with Prometheus.

Sklenka also added that Tribune is already planning to start drilling and defining a regulatory complaint mineral resource in the first half of 2019.

The acquisition deal between the two foreign companies took place even as regulatory reviews continue to obstruct the activities of many local mining players.

Tags: Diwalwal Gold ProjectDiwalwal Mineral ReservationPrometheus DevelopmentsTribune Resources

Related Posts

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte
News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya
News

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch
News

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH
News

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025
Chamber of Mines says reforms can revive PH mining exports
News

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025
SMPC declares PHP1.25 special cash dividend, total 2025 payout at PHP13.8B
Business

SMPC declares PHP1.25 special cash dividend, total 2025 payout at PHP13.8B

October 20, 2025

FEATURED POST

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

EDITOR PICK'S

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025

SMPC declares PHP1.25 special cash dividend, total 2025 payout at PHP13.8B

October 20, 2025

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

Recent News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 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