Philex takes over Anglo stake for $55m

September 28, 2008

Philex Mining Corp. yesterday said it acquired the 50-percent stake of Anglo American Exploration (Philippines) BV in the Boyongan copper-gold mine in Surigao del Norte for $55 million.

Philex vice president for finance Renato Migriño said in a disclosure to the stock exchange that the acquisition gave the company full control over the property. Philex Gold Philippines Inc., an 81-percent owned unit, owns the other 50 percent interest in the mine.

He said the acquisition, approved by company’s board yesterday, involved the sale of the shares owned by Anglo American in joint venture companies, Silangan Mindanao Mining Co. Inc. and Silangan Mindanao Exploration Co. Inc., to Philex Mining.

Anglo American is a wholly-owned subsidiary of UK-based Anglo American Plc.

The assets include four mining tenements and a mineral production sharing agreement over five parcels, including the Boyongan deposit in Surigao del Norte.

Philex Gold and Anglo discovered the Boyongan deposit in 2000 in a 25,184-hectare area.

Anglo provided all the funds for exploration, earning its 50-percent interest in the process, and completed 97,360 meters of diamond drilling in 193 holes.

It also completed the pre-feasibility study of the Boyongan deposit in December 2007 and discovered other mineralized centers.

“Anglo subsequently offered its rights over the property to Philex for $55 million, subject to the execution of the necessary agreements for the transaction. This now paves the way for the continued development of Boyongan and the adjacent areas expeditiously and for the best interest of the company,” said Migriño. (manilastandardtoday)

Philippine’s Alcala claims Billabong Cloud 9 Invitational

Billabong Cloud 9 Invitational

Surfing Australia
Cloud 9 Siargao Island Philipines
23 - 30 September 2007

Philippine’s Edito Alcala Wins Billabong Cloud 9 Invitational In Perfect Barrels

Surfersvillage Global Surf News, 27 September, 2008 : - - Philippines surfer Edito ‘Peso’ Alcala is the new king of Cloud 9 after defeating the world’s best tube riders to win the prestigious Billabong Cloud 9 Invitational at the remote island of Siargao in the Philippines. Cloud 9, an ultra perfect right hand reef break, lived up to expectation, serving out epic 2-2.5 metre barrelling waves for the final day of competition surfing.

Local ace Alcala, who learned to surf at the revered break, rode barrel after perfect barrel to beat defending title holder Wade Goodall (Caloundra, Qld, Aus) in a tight 35-minute man-on-man final. “I’m so happy,” said Alcala, who surfed away with $7,500 (USD) for his efforts. “It’s a dream come true to win this event and beating the reigning champion in the final makes it that much more sweeter. I’m stocked.”

But 20-year-old Alcala didn’t have it all his own way in the final, having to fight back from a slow start to take home a last-minute victory over Goodall in front of a vocal Philippines crowd. Sitting in second with two minutes to go and with priority, Alcala jagged a set wave before weaving through the belly of a Cloud 9 cavern to jag a heat-winning 9.43 ride. Alcala finishing on a final two wave combined total of 18.16-points to Goodall’s 17.77.

“I wasn’t expecting that last wave to come through,” he said. “I could tell it was a good one when it barrelled all the way down the reef. All my friends were in the channel watching and were hooting me after I flicked off. I just knew that I got the score.”

Sunshine Coast star Goodall, who heads home with $4,500 (USD) for his runner-up placing today, couldn’t replicate the barrel riding performance that saw him take out last year’s event and was clearly disappointed with the end result.

“I wanted it really badly,” said Goodall. “He was chasing me the whole final so I new if a good wave came that he was going to get it because he’s so good in the pit out there.  It’s bittersweet really.” Earlier in the day, Goodall posted the event’s only 10-point ride in the first semi-final. Tucking into a Cloud 9 beast, Goodall came flying out before taking to the sky with a radical aerial manoeuvre to be awarded the perfect ride.  

Edito Alcala : photo Jake White

“When we woke up the heats were running super early and the waves were just pumping,” said Goodall. “It was an unexpected swell. No one knew it was coming and it seemed to get better throughout the morning, especially in my semi-final.” Finishing in equal third today was Hawaii’s Granger Larsen, who was eliminated by Goodall in semi-final one, and Indonesia’s Lee Wilson, who went down to Alcala in a closely fought semi two.

What separates the Billabong Cloud 9 Invitational from standard competitive surfing is that invited contestants are involved in deciding what conditions they will surf in.  With only two full days required to finalise the competition and a seven-day competition window, organisers have the luxury to wait for ideal conditions in which to run the event during Cloud 9’s prime swell period.

Due to Siargao’s proximity to the Philippines, big swells from the Pacific Ocean roll in from the second deepest stretch of water in the world to create flawlessly hollow waves. The Billabong Cloud 9 Invitational is proudly supported by the Provincial Government of Surigao Del Norte with support from the Department of Tourism Philippines. (globalsurfnews)

DOT: Travel advisories cannot hinder 2008 Billabong Surfing Cup’s success

September 27, 2008

Gen. Luna, Siargao Island — The recent events happening in Lanao del Sur which led to the issuance of travel advisories by some countries did not really affect the tourist arrivals in Siargao.

This is the joint statements of officials of the Department of Tourism (DOT), Local Government of Surigao del Norte, and LGU-Gen. Luna in a press conference held yesterday (Sept.20) at Cabuntog Resort, this town.

DOT Caraga Regional Director Leticia Tan said statistics showed that at present, tourist arrivals in Caraga Region are increasing. “We’re not affected by travel advisories because it dictates that our incoming visitors are still increasing so let us not be affected by the travel advisories,” she said.

Likewise, Dir. Tan thanked the members of the media for helping the government in promoting the region as one of the tourist destinations in the Philippines. “With these people here advertising Gen. Luna, Siargao and entire Caraga Region, there is no reason for us to be afraid of travel advisories,” Tan said.

Meanwhile, DOT Sports and Wellness Director Cynthia Lazo believed that as a whole it (travel advisory) does not affect much with the tourism industry of the country.

On the other hand, Surigao del Norte Board Member Melva Garcia for her part as the chair of committee on Tourism of the province bared the passage of a resolution addressed to different embassies requesting them in case they will issue travel advisory in Mindanao, but they should specify which part in Mindanao they’re going to let their tourist not to go.

“So when it comes to Surigao we are a very peaceful province so they should not include Surigao del Norte for that matter as part of the whole,” Garcia noted.

Gen. Luna Mayor Felipe Espejon also conveyed Garcia’s request to the different embassies regarding travel advisories and was convinced that there’s an increase of tourist arrivals in his town. (PIA-Surigao del Norte)

Bad conditions hamper Day 1 of Intl Surfing Cup in Siargao

September 22, 2008

SIARGAO ISLAND, Surigao del Norte - Winds and weak waves forced organizers delay the first day of the 14th International Surfing Cup in General Luna town’s Cloud 9 Sunday.

According to some of the surfers, the wind was so strong during their free surf that they could hardly move in the waves and eye-soar.

Organizers said they will continue to monitor the weather conditions. If conditions fail to improve, they said the competition will resume Monday morning.

A total of 48 foreign surfers who traveled all the way to General Luna to compete in the magnificent waves of Cloud 9.

Among the participants are International Surfing defending champion Wade Goodall of Australia and some of the world’s most prolific tube riders, including 2006 Pipeline master James O’Brien and professional big wave rider Makua Rothman, both from Hawaii. Also present in the event are fearless Australian chargers Laurie Towner and Dylan Longbottom.

The participants will be competing for the tournament’s $20,000 top prize. (abs-cbnnews)

PHILIPPINES’ SIARGAO’s SURFING MEET STARTS SATURDAY

September 19, 2008

SIARGAO ISLAND, Surigao del Norte. 48 world surfers coming for 6-day 2008 Surfing Championship in Siargao Island. 48 world surfers coming for 6-day 2008 Surfing Championship in Siargao Island

At least 48 world surfers are set to arrive here on September 19 for the six-day 2008 Billabong Cloud 9 Invitational Surfing Championships on September 20-26.

Surigao del Norte solon Rep. Francisco T. Matugas, Gov. Robert Ace Barbers and the island’s local chief executives said the big opening has already been set for the week-long event.

‘All systems go,’ said Matugas.

The prestigious tournament include defending event champion, Australian surfing star Wade Goodall (Caloundra) and some of the world’s most prolific tube riders like 2006 Pipeline Master Jamie O’Brien (Hawaii) and professional big wave rider Makua Rothman (Hawaii), Australian chargers Laurie Towner (Yamba, NSW) and Dylan Longbottom (Coolangatta, Qld).

A special cash prize of U.S. $20,000 will be up for grabs at 10 a.m. on Saturday at General Luna, Siargao Island, after a big welcome lunch for guests and all competitors.

The opening ceremony will also attended by top regional, provincial and city officials and other government heads and civic groups in the region.

The tournament will be held in ‘Cloud 9′, a powerful hollow right-hander that has been hailed as one of the 10 best waves in the world and has been frequently compared to the renowned surf areas of Hawaii and Indonesia.

The yearly international surfing tournament is also being fully supported by Department of Tourism (DOT).

The Billabong Cloud 9 Invitational is jointly supported by the Provincial Government of Surigao Del Norte and the support from the Department of Tourism.

Last year, President Gloria Macapagal Arroyo also graced an international fishing tournament in this tourism island paradise in Northeastern Mindanao. (pr-inside)