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Bullboard - Stock Discussion Forum 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... see more

TSX:SAU - Post Discussion

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Post by Bandmanblues on Aug 16, 2021 12:35pm

HOLDING

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.

Comment by singlefile on Aug 16, 2021 1:04pm
I hope it works out for you - I mean that, I just can't take the PH BS any longer - it's like the OK corral... or the wild wild west - just brutal.
Comment by RealityCheck123 on Aug 16, 2021 1:11pm
Open pit or surface mining is basically the same thing.  Require KK to backfill any open pit/surface mine followed by soil replacement and sustainable revegetation.  Otherwise, require the deposit to be mined by underground methods.   The resource is located in the KK river.  Good luck.
Comment by shawshank2 on Aug 16, 2021 1:18pm
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
Comment by RealityCheck123 on Aug 16, 2021 1:20pm
It hasn't been proven to be economic by any mining method remember.  No compliant $12m feasibility study = no ore.
Comment by singlefile on Aug 16, 2021 2:50pm
Has it held ? 12 cents on the old news 7.5 on the new news .. people holding for reversal of the reversal to be reversed LOL ?? - or KK gets granted an "exception to mine" if such a thing exists - thing is the diocese (catholic church) is ready to pounce on these open pit mines (see me last post / link from todays news) if they show any sign of activity *& there is more than KK ...more  
Comment by shawshank2 on Aug 16, 2021 8:03pm
Yes looks like they are bringing it down slowly
Comment by singlefile on Aug 17, 2021 9:32am
- stating the obvious but looks like down 1 cent every 2 days approx -  we might be able to get in cheaper than Queensberry if this keeps up.. if you want in ??? .. then again it might ramp up again on news .. a hot mess
Comment by RealityCheck123 on Aug 17, 2021 1:12pm
The bullboard ruse continues.  lmao@u. ruse: an action intended to deceive someone; a trick
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