Mining company acquires additional equity in SAGC-A A +A
Friday, February 22, 2013
QUEENSBERRY Mining and Development Corp., the resource development company of Sen. Manny Villar, reportedly secured additional equity in St. Augustine Gold and Copper Limited (SAGC), a US-based mining company that is conducting exploration studies in Barangay King-king in Pantukan, Compostela Valley.
This move by Queensberry and Senator Villar is consistent with what appears to be a recent shift into the mining industry. Queensberry appeared to have a high level of confidence in SAGC to advance the King King Project.
The purchase of additional shares by Queensberry and Senator Villar could indicate an alignment with SAGC as the strategic partner to facilitate their shift into the mining sector not only in King-king, but collectively with a group who have consistently acquired and managed some of the most valuable assets in the mining industry.
The founders and executives for SAGC have been instrumental in developing some of the world's largest mining projects.
Queensberry's recent investment of an additional 40 million pesos in SACG shows that Senator Villar is confident SAGC is the company to partner with for future large mine development.
You can bet the founders and executives of SAGC aren't risking their reputation on anything less than world class mining operations and standards.
For its part, SAGC President and CEO, Andrew Russell stated, "the company is appreciative of the support Queensberry continues to provide through additional investment in St. Augustine as we continue to move the King-king project forward."
SAGC has continued to actively participate in community development projects benefiting Pantukan and Compostela Valley. Most recently SAGC provided substantial rescue and relief assistance to the victims of Typhoon Pablo on multiple and on-going occasions in three different
The investment by Queensberry into SAGC will be used for general working capital as the company continues its efforts to develop the King-king project. (PR)
Published in the Sun.Star Davao newspaper on February 22, 2013.