LISTED firm Atlas Consolidated Mining and Development Corp. is borrowing P1.8 billion from its principal shareholders to finance the development of another potential ore source in its copper mine in Cebu.
In a disclosure to the Philippine Stock Exchange, Adrian Ramos, president of Atlas Mining, said the company’s board of directors has approved resolutions authorizing the company to avail of convertible loan facilities which will be extended by the company’s principal shareholder groups.
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