Contradictory articlesSo on May 8th the article in the Business Mirror which i posted said this:
THE Mines and Geosciences Bureau (MGB) in the Davao region has approved the Annual Safety and Health Program (ASHP) and the Community Development Program (CDP) for the King-King Copper Gold Project (KCGP).
The approval of the two programs signifies the MGB’s recognition of the Calalang-led board of directors of the Nationwide Development Corp. (Nadecor), the Philippine partner of the US-based St. Augustine Gold and Copper Ltd.
https://businessmirror.com.ph/index.php/en/news/regions/31779-mgb-approves-2-king-king-copper-gold-projects-in-davao
Sounds pretty bullish right? But wait, a May 9th aritcle in the Business Standard now says this:
MGB director Leo Jasareno, however, said the agency was still waiting for the Supreme Court’s decision on ownership of Nadecor. “We are still waiting for the SC decision before we approve any permit,” he said.
https://manilastandardtoday.com/2014/05/09/king-king-copper-project-obtains-2-permits/
So really we are back to square one with waiting for the Supreme Court before anything gets done. Which is what i said a while back, only a court injunction or a mutual resolution will move this forward. Whoever put out the news stories on Thursday seems to have done so, as Staycalm surmised, just to arrest the fall in the SAU stock price. Those articles somehow left out the most important part of the story.
Robert