The Philippine firm has discovered deposits in Mindanao which may represent 25-year reserves of copper and gold, making them one of the biggest finds in the country. Formerly known as Fiduciary Trust, PGO aims to aquire existing gold mining assets and deposits which have been written off as unprofitable ventures and inject capital into them. Sutcliffe says the firm is set to become a mid-sized gold producer by next year. PGO is attracting interest from major North American miners seeking joint ventures, he says. The firm is currently negotiating finance for two mines.
All figures are in U.S. dollars except share prices, which are in Philippine pesos.
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