Basic Energy Corp. on Wednesday announced that it is conducting a due diligence study for the possible acquisition of a mining project located in Benguet Province.
In a disclosure to the Philippine Stock Exchange, Basic Energy also said that it will be engaging a consultant for its ethanol project in Zamboanga del Norte.
No other details were disclosed.
Last week the company said it will be seeking to increase its authorized capital stock from 2 billion shares to 10 billion shares.
Basic Energy said its board also approved to offer as much as 5.5 billion shares through its follow-on offering and deleting a special allocation for existing shareholders of the company. – GMANews.TV
Source: http://www.gmanetwork.com/news/story/78555/economy/companies/basic-energy-planning-to-buy-benguet-mine
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