Marcventures Holdings Inc. (formerly AJO.net Holdings Inc.) (“MHI”) is a corporation duly organized and existing under the laws of the Republic of the Philippines with SEC Registration No. 12942 incorporated on 07 August 1957. It is a publicly-listed company whose shares are actively traded on the Philippine Stock Exchange (PSE) under the stock symbol “MARC”.
On December 29, 2017, the Securities and Exchange Commission approved the merger of MHI with Asia Pilot Mining Philippines Corp. (APMPC) and BrightGreen Resources Holdings Inc. (“BHI”) with MHI as the surviving entity. The merger resulted to MHI’s acquisition of APMPC’s subsidiaries, namely, Alumina Mining Philippines Inc. (“AMPI”) and bauxite Resources Inc. (“BARI”) as well as BHI’s subsidiary, BrightGreen Resources Corp. (“BRC”)
Marcventures Mining & Development Corporation (MMDC), is a wholly-owned subsidiary of MHI. It operates a nickel in the Municipalities of Cantilan, Carrascal and Madrid in the Province of Surigao del Sur under Mineral Production Sharing Agreement No. 016-93-XIII covering an area of 4,799 hectares.
Based on a resource report, MMDC may extract Saprolite and Limonite of 3.2M wet metric tons and 62.2M wmt, respectively of the Measured and Indicated Nickel Resources with an average grade of 1.9% and 11.98% Fe for Saprolite and 0.83% NI and 46.02% Fe for Limonite.
BrightGreen Resources Corp. (“BRC”) is a mining tenement adjacent to the mining property of MMDC. It holds MPSA No. 015-93-XIII approved on 01 July 1993, covering approximately 4,860 hectares of the Municipalities of Carrascal and Cantilan in the Province of Surigao del Sur. BRC is currently at exploration stage. Based on initial studies, the total resource of BRC is estimated at 21.06 Million WMT which is expected to increase the resources available to MMDC.
Alumina Mining Philippines Inc. (“AMPI”) holds MPSA No. 179-2002 VIII (SBMR) with an area of 6,694 hectares located in Motiong, San Juan De Buan and Paranas, Province of Samar issued on December 5, 2002.
Bauxite Resources Inc. (“BARI”) holds MPSA No. 180-2002 VIII (SBMR) with an area of 5,519.01 hectares located in Gandara, San Jorge and San Juan De Buan, Province of Samar issued on December 5, 2002.
The primary mineral in AMPI and BARI is bauxite, the main raw material of aluminum. Both AMPI and BARI are in the exploration stage.