Price5 Jan 2026 07:05
As I've said before, 2 gold mines in South Korea and another in the Philippines with a joint venture partner.
ALL PEOPLE NEED TO DO IS CHECK FOR THEMSELVES,ON THE WEBSITE OR PREVIOUS RNS'S
From 10th Dec,
Update on Existing Gold Interests: Philippines (Batangas) and Korea
The Company provides an update on its legacy gold interests in the Philippines and Korea following renewed engagement by the new management team. Both assets are now undergoing structured review and reactivation efforts designed to bring greater clarity, discipline, and value potential into the portfolio.
In the Philippines (Batangas), the Company has re-established direct engagement with the local counterparty and begun a comprehensive assessment of the project's development position. Historically held on a passive basis, the asset is now being moved to an active oversight framework. Management and the local partner are working towards a defined 2026-27 development timetable supported by clear reporting and milestone tracking. The intention is to agree a detailed work plan and establish a formal project tracker during Q1 2026, providing the Company with improved visibility over the project's pathway and potential future cashflow.
In Korea, the Company has initiated a full reassessment of the project structure and development pathway. Discussions are progressing with potential partners, including the locally engaged group previously associated with BMV, to determine whether a technically capable and well-capitalised local lead party can be put in place. In parallel, a formal legal review of the permitting and appeal position will commence in January 2026. This will provide a definitive understanding of the regulatory basis on which the asset can be advanced and will inform the decision between a development path or an orderly exit.
Over the coming months, the Company will focus on establishing clear development options and execution responsibility across both assets. Key milestones include agreement of the Philippines development plan in early Q1 2026