FSGRI demobilizes rig at Madaymen drill site

By Marionne Marie G. Molintas-Ruiz

MANKAYAN, Benguet -- Far Southeast Gold Resources Inc (FSGRI) Tuesday morning started demobilizing the drill rig at Madaymen here for transfer to another location where it will be more useful.  

In a statement, FSGRI management said: “By virtue of MPSA-001, FSGRI retains the full right to drill at the Madaymen site and other areas covered. We are committed to strengthen our host communities through projects aimed at improved education, employment, health, livelihood, and infrastructure.”

As background, FSGRI has the full legal right to drill at the Madaymen site, by virtue of the current Mineral Production Sharing Agreement in the area (MPSA -001) issued by the DENR-MGB. Lepanto Consolidated Mining Company, majority shareholder of FSGRI, is the absolute owner of the subject land. Thus, the actions of the picketers, majority of whom are outsiders, are in violation of FSGRI’s and Lepanto’s legal rights. On a related note, Lepanto has affirmed that it will continue to pursue the criminal and civil cases against the picketers.

In the meantime, FSGRI is conducting geotechnical drilling at other sites in these areas, affected residents and community leaders have welcomed FSGRI’s operations as evidenced by various memoranda of understanding and they have started to enjoy the concomitant benefits.