Home » , , , , » NiHAO Mineral Resources buys into Oriental Vision

NiHAO Mineral Resources buys into Oriental Vision

LISTED NiHAO Mineral Resources International Inc. announced that it acquired roughly a third of privately held mining operator Oriental Vision Mining Philippines Corp.

In a stock exchange filing yesterday, NiHAO said it acquired 3,000 shares worth P3 million. The company plans to acquire an additional 60,000 shares worth P60 million after the latter obtains regulatory approval to increase authorized capital to P400 million.

NiHAO, chaired by former Arroyo Cabinet member Michael T. Defensor, has already paid P30 million as downpayment for the shares.

NiHAO also agreed to extend shareholder advances in favor of Oriental Vision to fund the latter’s existing mining projects. The advances are payable in either cash or shares of stock.

Oriental Vision is presently operating three nickel projects in Dinagat Island, Surigao del Norte and Isabela provinces covering a total area of about 5,900 hectares.

The company also approved the revision of the use of the P500 million proceeds of the 5:1 stock rights offer due to the acquisition and loan in favor of Oriental Vision.

At present, NiHAO has four mining tenements located in the provinces of Zambales, Misamis Oriental, North Cotabato and Antique as well as three small-scale mining claims in Botolan, Zambales and in Manticao, Misamis Oriental.

Total mining claims cover a total of approximately 20,841 hectares.

NiHAO shares closed flat yesterday at P4 each. (BM)

ليست هناك تعليقات:

Popular Posts


Siargaonon women surfers dominate Pilipinas Surfing Nationals in Baler

Three Siargaonon women surfers went victorious during the Pilipinas Surfing Nationals  Leg 2 in Baler, Aurora recently. Nilbie Blancada (C...

Home Top Ad

Post Top Ad


Car News

{getPosts} $results={4} $label={Cars} $type={block2}

Post Bottom Ad

Responsive Ads Here









نموذج الاتصال


بريد إلكتروني *

رسالة *

About Us

There are many variations of passages of Lorem Ipsum available.

Popular Posts


أرشيف المدونة الإلكترونية

Recent Posts

Unordered List

  • Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
  • Aliquam tincidunt mauris eu risus.
  • Vestibulum auctor dapibus neque.

Sample Text

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation test link ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate another link velit esse cillum dolore eu fugiat nulla pariatur.


Theme Support

Need our help to upload or customize this blogger template? Contact me with details about the theme customization you need.
Copyright © SURIGAO Today | Powered by Blogger