OGC $4.48 AUD $4CAD price target PI Financial, page-25

According to the locals who spoke to the Manila Standard on condition of anonymity, the ground validation report conducted by the regional task force of MGB Region 2, led by Engineer Geoffrey Prado with composite team members Robert Carreon, Demetrio Corsino, Romeo Watchorina and Elmer Bacutan, was “highly suspicious “ because it was all done in one day.

“They didn’t let one of us join the ground validation despite being aware of our strong stand against the continuous operation of OceanaGold here in our barangay because they could not explain to us or present the people of Kasibu any rehabilitation plan to the huge crater-like open pit they had dug here in Didipio. That is why there is a very minimal social acceptance to the renewal of Oceana’s FTAA [Financial and Technical Assistance Agreement]. That is the reason why we are on the barricades.”

Police Lt. Col. Joseph dela Cruz, Public information Officer of Nueva Vizcaya Police Provincial Office, told media during a press conference that both oil tankers were safely sent back to Manila, with its fuel cargo of 630,000 liters intact.

However, on Jan. 21, Executive Secretary Salvador Medialdea penned a directive to Environment Secretary Roy Cimatu granting authority to the mining company to bring in enough fuel “for the continued operation of the dewatering activities of the Didipio Mines.”