Yes, had a laugh about the MRC capital grab already. They are Filipino headed, but they don't even have a granted EXPA (exploration permit) including a mandatory FPIC (consent) from the IP (Indigenous) - which tend to be big stumbling blocks. So not even permitted to go on the ground yet. And they hold no guarantees at all they will ever actually be able to move dirt there.
Generally speaking, the mining industry in the Philippines is as much about fleecing capital markets as it is about actually digging ore. You'd be a mug to stump up cash for MRC, but they'll find some.
Have a look at the tenement map to see locations of MRC ground and Sagitarrius. MRC is number EXPA-000067-XII. And as it is not yet approved, it is listed as still under application. Last I heard, under presedential mandate there aren't going to be any new approvals until at least the end of the year.
If you want to have a look at ASX listed operators actually in the business of mining in the Phils that have proven at least some success, then have a look at CGA, Red5, Medusa and Rusina. Forget Oceana, Didipio is plagued with opposition like Tampakan.
IRN Price at posting:
47.3¢ Sentiment: None Disclosure: Not Held
