Philex Gold disputes findings on mine project
February 26th, 2008
Filed under: Mineral - Copper, Mineral - Gold, Operator - Philex
From: Inquirer.net
Philippine Daily Inquirer
Philex Gold Inc., a Toronto-listed unit of Philex Mining Corp., said a pre-feasibility study by its subsidiary’s joint-venture partner showed that developing the Boyongan property in the Surigao mineral district in Mindanao would not be profitable enough.
The unit, Philex Gold Philippines, has a 50-50 partnership with Anglo-American Exploration Philippines BV that covers the exploration of the 25,184-hectare site.
With Anglo directing the exploration program, the joint venture discovered the Boyongan copper-gold porphyry deposit in 2000.
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