This latest article deepens the mystery to my naive mind. Here's the significant para:
"The primary function of the STF is to assess all mining applications, permits, and operations existing in the province and to review the existing Mineral Production Sharing Agreement (MPSA) granted to Altai Philippines Mining Corporation (APMC) represented by Sibuyan Nickel Properties Development Corporation (SNPDC), in light of pertinent environmental laws and strategic environment assessment."
Now, as I understand it, Sibuyan Nickel Properties is our Pelican. This from the 2006 quarterly:
"The Company and its venture partner established a Philippine registered corporation Sibuyan Nickel Properties Development Corporation to be the Romblon project entity which will hold the project tenements. The shareholders of the corporation are Pelican?s wholly owned subsidiary Sunshine Gold Pty Ltd (40%), Sunpacific Resources Philippines, Inc (35%) and All-Acacia Resources, Inc (25%).""
A google of Altai receals them to be a large Canadian based mining compant with multiple Phillipines projects.
My question is why is Pelican representing Altai? What is the link between the companies and, if this is correct, why does Pelican management purport to know nothing of what is going on?
PEL Price at posting:
11.7¢ Sentiment: Hold Disclosure: Held
