The Co-O is operated by subsidiary Philsaga Mining Corporation PMC), a Philippine registered corporation.
The newly appointed Board identified that, prior to its appointment, circumstances arose involving uncertainty concerning the control of the Co-O mine, and disputes regarding the alleged transfer of ownership of a 60% interest in X64’s subsidiary Philsaga Management and Holding Inc (“PMHI”) which holds 100% of Philsaga Mining Corporation (“PMC”) the operator of the Co-O Mine located in Central Eastern Mindanao in the Republic of the Philippines.
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