Latest news with #P2
GMA Network
10 hours ago
- GMA Network
Missing sabungeros tied to sandbags before getting dumped in Taal Lake, says accused
In the case of master agent Ricardo "Jon-jon" Lasco, the accused alias Totoy said more than P2 million was paid for him to be taken and killed. Totoy said those behind the abduction and slaying were policemen. The online sabong master agent who was ordered abducted and killed after allegedly making money from an unauthorized cockfight broadcast was tied to a sack full of sand before getting thrown into the Taal Lake, one of the accused in a missing sabungeros case told GMA Integrated News. According to Emil Sumangil's report on "24 Oras," the accused, who is now planning to tell all regarding the disappearance of the missing sabungeros in 2021, said the other cockfight watchers also met the same fate after they were kidnapped. In the case of master agent Ricardo "Jon-jon" Lasco, the accused alias Totoy said more than P2 million was paid for him to be taken and killed. Totoy said those behind the abduction and slaying were policemen. Totoy also showed a cellphone video allegedly showing Lasco, whose face was covered by two masks. He said the video was sent by one of the leaders of the team that took the master agent from his house in San Pablo, Laguna, on August 30, 2021. Lasco's loved ones positively identified him as the person in the video. They called on the authorities to protect the witnesses as well as secure the alleged dumping ground of bodies in the Taal Lake. –NB, GMA Integrated News
GMA Network
a day ago
- Business
- GMA Network
Ayala Corp. raises P20 billion from preferred share offer
(from left) Ayala Corporation Head of Corporate Strategy and Business Development Mark Robert H. Uy, Treasurer Estelito C. Biacora, Chief Legal Counsel Franchette M. Acosta, Comptroller Josephine G. De Asis, Deputy CFO Juan Carlos L. Syquia, CFO Alberto M. De Larrazabal, SEC Commissioner McJill Bryant T. Fernandez, SEC Chairperson Francis Edralin Lim, PSE President and CEO Ramon S. Monzon, COO Roel A. Refran, PSE Head of Issuer Regulation Division Marigel Baniqued-Garcia, and PSE General Counsel Veronica V. Del Rosario. Courtesy: Ayala Corp. Ayala Corp., the country's oldest conglomerate, has raised P20 billion from its preferred share offer, on the back of "substantial" interest from institutional and retail investors. The company sold a total of 5 million shares as the base offer and an oversubscription of 5 million shares, issued at P2,000 per share payable quarterly with an initial dividend rate of 6.2903% per annum. "The successful re-issuance and listing amidst global market uncertainties of our Preferred Class 'B' Shares reflects the enduring support of the investing public in both Ayala and the Philippine capital markets," Ayala Corp. president and chief executive officer Cezar Consing said in an emailed statement. "The Ayala Group accounts for 24% of the total outstanding preferred shares in the domestic market," he added. The shares were listed on the Philippine Stock Exchange (PSE) on Thursday, with Ayala represented by chief finance officer Alberto de Larrazabal, deputy chief finance officer Juan Carlos Syquia, chief legal officer Franchette Acosta, treasurer Estelito Biacora, and head of corporate strategy and business development Mark Robert Uy. "This issuance underscores the continued ability of Philippine corporate issuers like Ayala Corporation to access capital markets effectively, supporting their growth and optimizing capital despite uncertain and volatile market conditions," Larrazabal said. Ayala Corp. booked an all-time core net income in 2024 following the strong performance across its banking, property, telecommunications and infrastructure businesses. In its disclosure to the PSE last March, the company reported a core net income of P45 billion, up 10% year-on-year. — VDV, GMA Integrated News
Cision Canada
5 days ago
- Business
- Cision Canada
P2 Gold Announces Positive Interim Metallurgical Results
VANCOUVER, BC, June 16, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports positive interim test results from the metallurgical program underway for its gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada. The Company retained Kappes, Cassiday & Associates ("KCA") in Reno, Nevada to carry out the Phase Three Metallurgical Program, which is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate. After 58 days of leaching, the metal recoveries of the Phase 3 Metallurgical Program are far exceeding the recoveries from the Phase Two Metallurgical Program and are exceeding the recoveries used in the May 2024 Preliminary Economic Assessment on the Gabbs Project. See Table 1 below for a comparison of the Phase Three results at 58 days to the Phase Two results at 58 days and the recoveries used in the 2024 Preliminary Economic Assessment. Table 1: Comparison of Interim Oxide Samples Column Test Leach Results at Day 58 (1)(2) (1) Samples were submitted for preparation and multi-element analysis by KCA. All samples were analyzed using multi-acid digestion with ICP finish for silver and copper and fire assay with AA finish for gold. (2) Interim recoveries based are on standard assaying protocols and will be subject to change at the end of the program when tail assays are available and incorporated into the calculated head assays. (3) See P2 Gold news release dated May 22, 2024, and the Gabbs Technical Report dated May 17, 2024 available under the Company's profile on SEDAR+ at and on the Company's website at "The Phase Three Metallurgical Program was established with a target of improving the leach kinetics and overall extraction by adding cyanide during agglomeration and by increasing the cyanide concentration in the leach solutions," commented Joe Ovsenek, President & CEO of P2. "Interim test results indicate that all metals are leaching significantly faster than the prior tests, with metal recoveries exceeding those used in our May 2024 PEA and still increasing." The Phase Three Metallurgical Program is expected to continue for another 30 to 60 days to achieve maximum recoveries. Final metallurgical recoveries will be announced upon completion of the program. Prior Metallurgical Programs The Phase One Metallurgical Program included testing for the potential recoveries of copper and gold from oxide mineralization by sequential leach using heap leach or conventional milling. The test work showed that gold and copper can be recovered by both process options, with extractions averaging 97.2% for gold and 95.2% for copper when the sample is ground to 100 microns. (See P2's news release of August 4, 2021.) The Phase Two metallurgical program, also conducted by KCA, was focused on determining the preferred extraction process for the Gabbs mineralization. Based on the results of that program, KCA proposed that the oxide material be heap leached and gold recovered as a salable doré and cyanide soluble copper produced as a salable copper sulphide concentrate. Column test leach results ranged up to 89% for gold and 62% for copper. The average extraction for the three column tests was 82% for gold and 50% for copper. (See P2's news release of May 13, 2022.) Qualified Person Ken McNaughton, Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release. About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc.
GMA Network
5 days ago
- Business
- GMA Network
OVP to seek P733-M budget for 2026 — Sara Duterte
Vice President Sara Duterte said Monday that the Office of the Vice President (OVP) would submit a P733 million budget proposal for fiscal year 2026, which is the same amount approved for her office this year. Duterte said that she is no longer expecting a higher budget allocation for the OVP since she is not allied with the Marcos administration. That is why, she said, she decided to propose the same amount next year, with only a few adjustments considering the inflation. 'Hindi siya kalayuan doon sa approximately P700 million na ibinigay noong nakaraang taon para sa Office of the Vice President. Hindi siya malayo sa 2025 budget,' she said at a press conference. (That is not far from the approximately P700 million given last year to the Office of the Vice President. That is not far from the 2025 budget.) 'Inaasahan ko naman na hindi ibibigay 'yung budget ng [OVP] dahil nga hindi naman kami kaalyado ng administrasyon at nakita na natin 'yun nung nakaraang taon, na syempre kung hindi ka sumusunod, hindi ka kaalyado, ay hindi ka ay hindi ka mabibigyan ng pondo para sa mga programa ng opisina mo,' she added. (I expect that a higher OVP budget will not be given because we are not an ally of the administration and we saw that last year, that if you do not follow them, you are not an ally, then you will not be given funds for the programs of your office.) Duterte also said that she does not want to see members of her office being "embarrassed" by lawmakers both from the House of Representatives and the Senate during the budget deliberations. She also said that she is still unsure whether or not she will attend the deliberations for the proposed 2026 budget of the OVP. Last year, the House decided to reduce the budget of the OVP from the originally proposed P2 billion to P733 million amid Duterte's refusal to answer lawmakers' questions on OVP budget use, including confidential funds. The Senate retained the House-introduced budget cut despite calls from Duterte's allies to restore some of OVP's proposed funding for social services. The Vice President lamented the budget cut, saying that around 200 OVP personnel could lose their jobs and some projects of her office would have to be halted. 'Wala kaming madagdag na project for 2026. Tutuloy pa rin lahat... maliban lang sa PANsarap at medical at burial assistance,' Duterte said. (We will have no additional projects for 2026. Everything will continue... except for PANSarap and medical and burial assistance.) Despite a significant P1.4 billion budget cut under the 2025 General Appropriations Act, Duterte said her office, so far this year, continued to provide service to the people. She said that the OVP's medical assistance program provided aid to 127,984 beneficiaries, while the burial assistance program had 25,495 beneficiaries. Meanwhile, over a million passengers were given free bus rides under the OVP's Libreng Sakay Program. Thousands of students and indigent Filipinos were also given help through other projects of the OVP. 'Naging mas mapaghamon ang pagpapatakbo namin ng mga programa na ang pakay ay pagbibigay ng solusyon sa ilang mga pangunahing suliranin ng mga Pilipino. Ngunit ang mga batikos at sistematikong atake laban sa OVP ay hindi naging sapat para tayo ay humina, huminto, at mabigo,' Duterte said. (It became more challenging for us to run programs that aim to provide solutions to some of the major problems of Filipinos. But the criticisms and systematic attacks against the OVP were not enough to weaken, stop, and fail us.) — RSJ, GMA Integrated News
GMA Network
10-06-2025
- Business
- GMA Network
SEC chief Lim mulls lowering fees for MSMEs
Newly installed Securities and Exchange Commission (SEC) chairperson and CEO Francis Lim is looking at lowering fees for micro, small, and medium enterprises (MSMEs) to encourage business registration and support growth of the sector. 'We will definitely explore reasonable reductions in our fees, particularly for MSMEs. Regulation must support, not suffocate,' Lim said in his speech at the ceremonial turnover of the SEC leadership in Makati City on Tuesday. Lim told reporters how he ended up becoming a "victim" of high fees. 'Nagpakuha ako ng certified true copy ng article [Articles of Incorporation]… I was asked to pay more than P2,000. So that's one thing. These are the things we should do to signal to the market that it's really easy at the SEC,' he said. Registration fees in the SEC are based on the authorized capital stock of the registering entity or the value of the transaction being registered. Currently, the registration filing fee ranges at 1% of the authorized capital stock or the subscription price of the subscribed capital stock, whichever is higher but not less than P2,000, while the legal research fee costs 1% of the filing fee but should not be less than P10. Lim succeeded Emilio Aquino, whose seven-year term ended last week. —VBL, GMA Integrated News
