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St. Augustine Gold & Copper Files First Quarter 2016 Financial Results and Provides Corporate Update
St. Augustine Gold & Copper Files First Quarter 2016 Financial Results and Provides Co...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\n\n\nSt. Augustine Gold & Copper Files First Quarter 2016 Financial Results and Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSt. Augustine Gold & Copper Files First Quarter 2016 Financial Results and Provides Corporate Update\nCanada NewsWire\nHONG KONG, May 16, 2016\n\n\n\nHONG KONG, May 16, 2016 /CNW/ - St. Augustine Gold and Copper Limited (TSX: SAU) (\"St. Augustine\" or the \"Company\"), a development-stage company advancing the King-king Copper-Gold Project (\"King-king\" or the \"Project\") in Mindanao, Philippines, announced that it has filed its financial results for the first quarter ended March 31, 2016. All amounts, unless otherwise indicated, are in U.S. dollars. \n\nQ1 Corporate Highlights\n\n\nAwarded the Declaration of Mining Project Feasibility (\"DMPF\"), a construction and mining permit, for the Company's flagship King-king project by Mines and Geosciences Bureau (MGB) of the Philippine Government. The permit approval, which was awarded to St. Augustine's joint venture partner, NADECOR, is the last major permit required to initiate development, construction and operation of the King-king project. \nThrough the Company's joint venture partner, NADECOR, was issued a Certification Precondition by the Philippine National Commission on Indigenous Peoples (NCIP). The Certification Precondition attests that NADECOR satisfactorily complied with the process requirements under the Indigenous Peoples Rights Act of 1997 and NCIP Administrative Order No. 03, Series of 2012, otherwise known as the FPIC Guidelines of 2012 for obtaining of the free prior and informed consent of the Mansaka Tribe. \nAppointed Michael McGee, a legally-trained economic consultant based in Charlotte, North Carolina to the Company's Board of Directors. \nProgressed with engineering and corporate social responsibility programs aimed at supporting the projected initiation of Project construction in 2017. \nAt March 31, 2016, St. Augustine had cash and cash equivalents of approximately $2.2 million and working capital of approximately $1....