St. Augustine Receives Last Major Permit for King-king Mine

- January 6th, 2016

St. Augustine Copper and Gold Ltd. (TSX:SAU) announced that the Philippines’ Mines and Geosciences Bureau has approved the declaration of mining project feasibility (DMPF) for the company’s King-king copper-gold project.

St. Augustine Copper and Gold Ltd. (TSX:SAU) announced that the Philippines’ Mines and Geosciences Bureau has approved the declaration of mining project feasibility (DMPF) for the company’s King-king copper-gold project.
As quoted in the press release:

The permit approval, which was awarded to St. Augustine’s joint venture partner, Nationwide Development Corporation (NADECOR), is the last major permit required to initiate development, construction and operation of the King-king Mine.
Through the Order dated December 29, 2015, NADECOR has been authorized to proceed to the Development and Operating stages of its Mineral Production Sharing Agreement (MPSA) No. 009-92-XI which includes the extraction and sale of copper, gold and associated minerals within the 1,548-hectare (MPSA) area.  St. Augustine is the exclusive technical services provider of NADECOR.
Receipt of the DMPF is a significant milestone, and coupled with the Environmental Compliance Certificate (ECC) issued in February 2015, enables St. Augustine and NADECOR to jointly begin development, construction and operation of the King-king Mine per approved plans and strategies.
The DMPF approval was achieved subsequent to the receipt of the ECC.  The DMPF approval represents five years of comprehensive technical, environmental, social and community engagement efforts completed by NADECOR and St Augustine and related advisors.

Paolo A. Villar, president and CEO of St. Augustine, commented:

Receipt of the DMPF removes the last significant hurdle to move forward with the development of the King-king Project and represents our most significant milestone to date.  We look forward to working with NADECOR and all local stakeholders to take King-king to the next stage of development.

Click here to read the full St. Augustine Copper and Gold Ltd. (TSX:SAU) press release.

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