Lepanto, Philex, Manila Mining shares resume trading

After a voluntary trading suspension request yesterday, the shares of Lepanto Consolidated Mining Company (LC / LCB), Philex Mining Corporation (PX), and Manila Mining Corporation (MA / MAB) will resume trading today, following a disclosure announcement that PX is entering into a joint venture with Manila Mining in the exploration and development of the Kalayaan Project in Placer, Surigao del Norte.

The three companies submitted to the Philippine Stock Exchange today the following disclosure:

We are pleased to advise that Manila Mining Corporation (“MMC”), in which Lepanto holds a 20% interest, has finalized an agreement with Philex Mining Corporation for the exploration and joint development of the Kalayaan Project (“Project”) located in Placer, Surigao del Norte. The Project is covered by Exploration Permit No. XIII-014B in the name of Kalayaan Copper Gold Resources, Inc. (“Kalayaan”), a 100%-owned subsidiary of MMC. Pursuant to their agreement:

1. MMC sold to Philex for US$25 million a total of 125,000 shares of stock of Kalayaan, representing a 5% interest in Kalayaan.

2. Philex shall earn a further 55% interest in Kalayaan, for a total of 60%, by sole-funding all pre-development expenses including a bankable feasibility study for the Project and the development of the Project jointly with MMC.

What this means is that Philex is acquiring a majority stake (amounting to 60%) in the Kalayaan project by funding all pre-development expenses and by paying Manila Mining $25 million.

The consequence on the stock price of the three stocks would depend on the outlook for the Kalayaan project. If it would deliver huge output and huge returns in the future, Manila Mining, and ultimately Lepanto Mining, would suffer as it divested themselves a majority stake in that project. In turn, Philex becomes the big winner.

On the other hand, if the Kalayaan project’s outlook is bleak, Manila Mining and Lepanto were wise to divest their ownership, leaving potential losses in the hands of Philex.

But then again, this is just my opinion.

Related reading:

4 thoughts on “Lepanto, Philex, Manila Mining shares resume trading”

  1. My opinion is opposite. I believe Philex will get the lion share in this transaction and will profit from it. Note that Philex Mining Corp is the best managed mining company in our country while the other 2 (LC and Manila Mining) are cash-strapped. In that situation, PX saw some potential in the Kalayaan Mine and it is using the situation of the 2 companies to get it at a very cheap price….

  2. Description-18 hec with existing gold  -WHY INVEST IN TREASURE HUNTING WHEN THERE’S 100% GOLD IN THIS LOT-ONLY 5 METERS DIG positive gold findings-for sale-or joint venture-adjacent to a small scale gold mining-24k purity-near a concrete road-you can see it to believe-17 million-reason for selling: need money -call/txt:09076689461

    Read more: http://www.sulit.com.ph/index.php/view+classifieds/id/4839709/pagadian+18+hectares+with+existing+gold+for+sale

  3. brian bristol renubas

    To: InvestorS
    & FinancierS


    We are looking for a kind, honest, truthful investors, who
    can finance the said excavation of a
    yamashita gold treasure (finished product) which were buried by the Japanese
    Army lead by Gen. Tomoyuki Yamashita during the 2nd world war in the
    Philippines and which is 2000% sure amounting to, not less than 30 metric tons
    of gold bars which is still intact in its site or place and which is in the
    personal tilled of land property of my half brother.

    If you are quite interested, we, me and my
    half brother who is a reverend of the Seventh Day Adventist Church, cordially
    inviting you personally, or any of your personal trustee, or asignatory or
    representative to come over to manila to have a person to person formal
    conversation and bringing with you couple of your sophisticated mines detectors
    or precious metal scanners for me to prove to you the real truth and the
    presence of thousands gold bars buried below the surface of the land.

    We will be glad enough for any immediate
    considerable reply sooner, thanks, I remain

    Very respectfully yours,



    Contact # 09997362089

    Skype: borgsbrandon20


  4. Margeret Liborio

    My outstanding instructed us to search for website pages that discuss armer26p once i unintentionally uncovered your website and experience ALIEN SPACESHIPS TO Assault EARTH IN NOVEMBER 2012!. I am really impressed using your impressive put up!

Leave a Comment

Your email address will not be published.

Scroll to Top