C05122-2024 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common shares | 2,878,500,005 |
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Subject of the Disclosure |
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Office of the President Lifts Suspension Order of the DENR |
Background/Description of the Disclosure |
As previously disclosed, ORE’s subsidiary, Citinickel Mines and Development Corporation (“Citinickel”), received Suspension Order dated July 22, 2016 from the Mines and Geosciences Bureau suspending mining operations under Mineral production Sharing Agreement No. 229-2007-IVB. The order was maintained by the Secretary of the Department of Environment and Natural Resources (“DENR”), hence the appeal by Citinickel before the Office of the President. |
Name of the court or agency in which the proceedings are pending | Office of the President |
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Date Instituted | Mar 1, 2017 |
Docket Number | OP Case No. 17-C-056 |
Principal Parties |
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Citinickel Mines and Development Corporation (Appellant) |
Nature and description of the legal proceedings |
Citinickel availed of its administrative and legal remedy to lift the suspension order of the DENR Secretary by filing an appeal before the Office of the President. |
The effect(s) on the Issuer's business or operations, if any |
Citinickel has been under normal business operations since its appeal. |
Other Relevant Information |
Please see attachment. |
Name | Lyra Gracia Lipae-Fabella |
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Designation | Corporate Secretary |