Nickel Asia Clarifies Incident at Isabela Project

Manila—(PHStocks)—Nickel Asia Corp. (NAC, PSE: NIKL) clarified the various news reports in connection with the incident last October 28, 2015 in its Isabela Project in Dinapigue, Isabela. The said project is being operated by Geogen Corp. (Geogen), a company recently acquired in whole by NAC.

The work being done on site at the moment is merely preparatory. The actual damage suffered by Geogen was limited to only three service vehicles and some drill rigs. The other equipment in the project site were owned by other contractors of the previous owner of Geogen. The overall impact to NAC is thus minimal.