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St. Augustine Gold & Copper Provides Update on MPSA
St. Augustine Gold & Copper Provides Update on MPSA St. Augustine Gold & C...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\n\n\nSt. Augustine Gold & Copper Provides Update on MPSA\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSt. Augustine Gold & Copper Provides Update on MPSA\nCanada NewsWire\nHONG KONG, Feb. 21, 2017\n\n\n\nAnnounces Director Resignation\n\n\n\nHONG KONG, Feb. 21, 2017 /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, was informed that the Philippine Department of Environment and Natural Resources (DENR) held a news conference on February 14, 2017 wherein the DENR Secretary announced that Mineral Production Sharing Agreement (MPSA) No. 009-92-XI which covers the Project is one of the 75 MPSAs recommended for cancellation. To date, neither St.  Augustine nor its joint-venture partner, NADECOR, have received any formal notification from the DENR.  Per Secretary Lopez, companies will have seven (7) days to respond from receipt of said notice. \n\nSt. Augustine is certain in its position that the Project's MPSA is valid and will hold up to legal scrutiny, having obtained all the necessary area clearances from the relevant national and local government agencies as well as certification from the Mines and Geosciences Bureau (MGB) and various local government units that the Project is not within the No Go Zones nor within a critical or proclaimed watershed.  The MPSA was awarded on May 27, 1992 and was subsequently amended on 11 December 2002.\n\n\"Despite this unwarranted inclusion in the list of MPSAs recommended for cancellation, King-king Mining Corporation, as assignee of the MPSA, continues to commit to the upholding of the highest environmental and safety standards and to cooperating with the DENR to ensure that the environment is safeguarded at all times,\" stated Conrado Calalang, President of KMC.\n\n\"We are ready to address any issues that may be raised by the DENR in its notice and rest assured, the Project is not within the ...