Proceeds of a mining company’s share sale have been used to develop a real-estate project and cover costs related to its core business.
As of September 30 this year, publicly-listed Omico Corp., which runs an Itogon, Benguet gold mine, has spent a total of P29.42 million for the development of its Sta. Rosa homes, the company said in a disclosure to the Philippine Stock Exchange (PSE).
It has also used P8.06 million for minesite administration and other expenses, the company said.
In August last year, the company offered stockholders to buy three shares for every one share they held.
Besides ore, metal, and mineral extraction, Omico Corporation has entered into a joint venture agreement with Robinsons Homes Inc for the development of land it owned in Tagaytay City.
Omico entered into a similar arrangement with Sta. Lucia Realty and Development, Inc., Asian Pacific Estates Development Corporation (APEDC) and Asian Empire Corporation (AEC) to build a residential and commercial subdivision in Pinmaludpod, Urdaneta, Pangasinan.
Shares of Omico fell by P0.0005 to P0.0095 during Wednesday’s trading at the PSE.
- GMANews.TV
As of September 30 this year, publicly-listed Omico Corp., which runs an Itogon, Benguet gold mine, has spent a total of P29.42 million for the development of its Sta. Rosa homes, the company said in a disclosure to the Philippine Stock Exchange (PSE).
It has also used P8.06 million for minesite administration and other expenses, the company said.
In August last year, the company offered stockholders to buy three shares for every one share they held.
Besides ore, metal, and mineral extraction, Omico Corporation has entered into a joint venture agreement with Robinsons Homes Inc for the development of land it owned in Tagaytay City.
Omico entered into a similar arrangement with Sta. Lucia Realty and Development, Inc., Asian Pacific Estates Development Corporation (APEDC) and Asian Empire Corporation (AEC) to build a residential and commercial subdivision in Pinmaludpod, Urdaneta, Pangasinan.
Shares of Omico fell by P0.0005 to P0.0095 during Wednesday’s trading at the PSE.
- GMANews.TV
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