By Alena Mae S. Flores Posted on Oct. 30, 2012 at 12:01am
The board of Coal Asia Holdings Inc. on Monday approved the proposal to tap an independent firm accredited by the Philippine Stock Exchange to conduct a revaluation of the resources of wholly-owned subsidiary Titan Mining and Energy Corp.
Coal Asia said the valuation made by Multinational Investment Bancorporation was based on the data available in March 2012 on Titan’s mining resources.
“The revaluation, which is part of the requirements of the PSE in connection to the initial public offering of the shares of the corporation, will include additional data yielded by drilling activities to date,” it said. source
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