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Sunday, October 02, 2005
Indophil to expand mineral explorations
GENERAL SANTOS CITY -- Upbeat with the growing prospects of the country's minerals industry and the government's "all-out" support to their operations, Australian mining firm Indophil Resources NL (ASX:IRN) has declared it is now considering expanding its mineral exploration program in the Philippines.
Tony Robbins, Indophil managing director, said the company has re-evaluated its ongoing exploration program and has decided to consider "opportunities beyond the existing world-class Tampakan Copper-Gold Project".
Indophil is the mother firm of the Sagittarius Mines Inc. (SMI), which is now conducting a pre-feasibility study on the copper and gold deposits in the mountainous tri-boundaries of Tampakan in South Cotabato, Columbio in Sultan Kudarat and Kiblawan in Davao del Sur.
"While the company's main focus is proving up the Tampakan Project and completing the pre-feasibility study, the time was right to take advantage of the improved investment environment and attractive mineral prospectivity in the Philippines," Robbins said in a statement.
However, Robbins did not provide any details about the company's expansion plans but cited that its investment analysts will tour the project in mid-October.
For Bisaya stories from Davao. Click here. (October 2, 2005 issue)
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