MRC Allied to Raise Funds for Mining Projects

In a statement submitted to the Philippine Stock Exchange (PSE), MRC Allied Inc. (PSE: MRC) has confirmed that, in line with its Mining Operations Agreement involving the Kiblawan Mines and Surigao Mines, the company is looking into several options to finance the mining projects.

MRC Allied is also considering the possibility of a rights offering or pursuing private placement transactions. The company is currently in talks with several consultants, lawyers and underwriters with regard to taking the best route that will lead the company to acquiring the appropriate funding for all preoperational costs in the next six months and onwards.

In addition, MRC Allied has confirmed that it is open to a partnership or joint venture agreements with both local and foreign entities, who share its vision of playing an active role in the development of the mining industry in the country.