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St. Augustine Gold & Copper Files Second Quarter 2016 Financial Results and Provides Corporate Update
St. Augustine Gold & Copper Files Second Quarter 2016 Financial Results and Provides C...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\n\n\nSt. Augustine Gold & Copper Files Second 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 Second Quarter 2016 Financial Results and Provides Corporate Update\nCanada NewsWire\nHONG KONG, Aug. 15, 2016\n\n\n\nHONG KONG, Aug. 15, 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 second quarter ended June 30 2016.  All amounts, unless otherwise indicated, are in U.S. dollars. \n\nQ2 Corporate Highlights\n\n\nProgressed with engineering and corporate social responsibility programs aimed at supporting the projected initiation of Project construction in 2017. \nThe Company's joint venture partner, Nadecor, received a ruling from the Supreme Court that its President, Conrado Calalang, and current Board of Directors are the organization's rightful and authorized representatives.  The ruling is consistent with St. Augustine's long-held belief on the legitimacy of the Calalang Board.  St. Augustine has been interacting with NADECOR's current Board since they were initially elected in August 2011. \nShareholders elected Paolo Villar, Michael McGee, Yolanda Coronel-Amenta, Marcelino Mendoza and Patrick Caoile as Directors at the Company's Annual General Meeting held on June 24 in Manilla. \nAt June 30, 2016, St. Augustine had cash and cash equivalents of approximately $1.3 million and working capital of approximately $300,000. These compare to approximately $3.2 million in cash and cash equivalents and working capital of approximately $2.5 million at December 31, 2015.\nHighlight Subsequent to Quarter End\n\n\nThe Company's joint venture partner received notification from the Mines and Geosciences Bureau (MGB) of the Philippine Government that the Mineral Production Sharing Agreement (MPSA) for the King-king Copper-G...