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St Augustine Gold and Copper Ltd T.SAU

Alternate Symbol(s):  RTLGF

St. Augustine Gold and Copper Limited is a Singapore-based mineral exploration company. The Company is focused on the King-King copper-gold project on the island Mindanao in the Philippines. The King-king tenement is comprised of approximately 184 mining claims that are owned by Nationwide Development Corporation (NADECOR). The Project is a copper-gold mineral reserve located at Sitio Gumayan, Barangay King-king, Municipality of Pantukan, Davao de Oro, on Mindanao Island, Philippines. Its deposit is a porphyry copper-gold deposit hosted primarily by porphyritic hornblende diorites, submarine volcanic rocks, and volcanoclastic sediments. The sulfide copper mineralization in the King-king deposit consists of chalcopyrite and bornite, with lesser amounts of chalcocite, digenite, and covellite.


TSX:SAU - Post by User

Comment by shawshank2on Aug 16, 2021 1:18pm
106 Views
Post# 33710669

RE:HOLDING

RE:HOLDING
Bandmanblues wrote:

We have 2 weeks from Aug 9th for the IRR to take effect.
Mining can be accomplished by other means as stated below.
Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said in a text message that AO 25 was published on August 9, 2021. This means that the IRR will take effect in two weeks.

In a statement, the Chamber of Mines of the Philippines (COMP) said the decision of the government to keep the ban on open-pit mine will “negate the spirit of EO 130 as most of the mining applications propose the use of the open pit method”.

 
 

“Thousands of mines worldwide have adopted this primary method, including Australia, Canada, and the USA. There are economic, safety, and environmental considerations for employing this method,” COMP, composed of some of the country’s largest mining companies, said.

“Where underground mining cannot be applied, the open pit method is primarily employed although there are other forms of surface mining. The shape nature and location of the ore body determine the mining method,” it added.



The fact that the share price has held us a positive indicator news might be bs. Who knows. King king is not economical through any other method of Ming except open pit
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