Platinum group Metals Corp had Oriental Paninsula Resourses Group Inc investigatedadmin
Oriental Paninsula Resourses Group Inc or known is about to be investigated by the Philippine Stock Exchange. The investigation is done on request by Nickel mining firm Platinum Group Metal Corp Inc. PGMC requested that the PSE investigate and suspend the trading of its shares for persisting to conduct mining operations in Palawan despite legal impediments.
Raoul Romulo, PGMC senior Vice-president, in his letter urged the PSE board of directors to address the issues at hand and if warranted, that trading for Oriental shares be suspended pending investigation. In his letter to the PSE, Romulo also explained that before Oriental or Citinickel can operate the mining sites, they are required by law to secure clearances from the local government, including the Strategic Environmental Plan (SEP) clearance from the Palawan Council for Sustainable Development (PCSD).
“Oriental and Citinickel have not complied with the SEP requirement. Worse, Citinickel has used PGMC’s SEP Clearance to comply the with MPSA mandatory requirements,” Romulo added, noting that the PCSD had declared that the SEP Clearance is non-transferrable.
Just wait and see what is it like in near future. for a more thorough information go to abs-cbn.news.com