posted this link the other days...the future for Tampakan is looking better as every day goes by....strange that this is not reflected in the SP but we know why.
TUESDAY MAY 24, 2011 PHILIPPINES
MRC-Allied project gets
indigenous communities? OK
MRC-Allied Inc. yesterday said it has secured the approval of indigenous communities for the development of its mining claim in Tampakan, South Cotabato, and Kiblawan, Davao del Sur.
Benjamin M. Bitanga, MRC Allied president, said the National Commission on Indigenous People (NCIP) has recognized the "free and prior informed consent" given by indigenous communities that live within the development area for the Tampakan-Kiblawan gold-copper prospect.
MRC-Allied?s flagship project is adjacent to the $5.9-billion Tampakan copper-gold project of mining firm Xstrata Copper.
Tampakan is believed to be the fifth-largest undeveloped copper-gold deposit in the world.
Bitanga earlier said the company expects to secure an exploration permit before the first half of the year ends.
The company is working on a P1.5 billion private placement to fund exploration. Subscribers to the private placement will have an opportunity to convert their placement units into shares of stock once the corporate vehicle for the project becomes public.
MRC Allied is also in talks with potential partners.
Vicente Laza, MRC Allied chief finance officer, said the company intends, however, to first complete the exploration work before it decides on a partner
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