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The Department of Agriculture will set up several livestock checkpoints across Luzon in response to the rapid spread of African Swine Fever in Batangas, which is suspected to have been exacerbated by unscrupulous hog traders selling diseased pigs.
OceanaGold PH [OGP 13.40 ?1.2%; 204% avgVol] [link] and its parent company, OceanaGold Corp (OGC) held a media roundtable on Tuesday to discuss concerns about OGP’s weaker-than-expected Q2 production and provide guidance for what investors could expect for Q3 and Q4. OGC’s COO, Peter Sharpe, said that OGC and OGP “expect Q3 and then Q4 to be stronger than Q2.” The companies confirmed plans for OGP to declare and pay quarterly dividends, and reiterated their confidence in the ability of OGP to maintain a “high level dividend”. OGC said that OGP’s weak Q2 production was caused by unplanned downtime and a reconfiguration of its mine sequence to optimize later output. The companies said that they expect OGP to hit its output target of 120,000 ounces of gold and 14,000 metric tons of copper. As for the prices of those commodities, a representative for OGP said that “there are no indications that prices will go down.”MB BOTTOM-LINE: I like the involvement of OGP’s parent company and the interest in maintaining an open dialogue on OGP’s first quarter of public results and its first dividend. I especially like that the company put the Powerpoint presentation that it delivered to the media roundtable up on its website [pdf link]. Given how most international parent companies treat their listed PH companies and their investors, this was a welcome breath of fresh air. The only way to make it better is for OGP to post the presentation materials link in a same-day EDGE disclosure. Kudos to management and to the investor relations team for the transparency and investor engagement. One side note on prices: while gold and copper are both in price uptrends, there are simply no guarantees that prices will remain at these levels or reach higher levels. While there are no indications that prices will go down, just remember that a lack of indicators won’t mean anything if/when the prices do start to come down. They’ll just come down. As a lifelong goldbug I’ve been messing with the metal since $500/oz, but while the price is at lifetime highs for me, the path there was anything but straight up.
PASIG city mayor Vico Sotto yesterday shrugged off the graft complaint filed against him before the Office of the Ombudsman, noting the “interesting timing” when the case was lodged.
MANILA, Philippines — In Tokyo three years ago, a dejected Carlos Yulo had a first-hand feel of the Olympic gold medal that his “Ate” Hidilyn Diaz famously won.
TOKYO – It wasn’t a smooth ride to the top even as La Salle swept the eight-team, three-day World University Basketball Series with a 3-0 record to win the third edition of the annual tournament at the Yoyogi National Stadium here last Monday. The Archers got off to a hot start, blowing out Perbanas Institute of Jakarta, 117-71, last Saturday then went through the wringer in carving out a thrilling 87-82 OT decision over the defending champion National Chengchi University of Taipei the next day.
CAGAYAN DE ORO, Philippines — Eliana Dumalaog won a thrilling three-way battle for the girls’ 10-12 title, needing two extra holes to secure her win in the ICTSI Junior PGT Mindanao Series 4 at Pueblo de Oro Golf and Country Club here yesterday.
MANILA, Philippines — China has almost tripled the number of its military vessels in the West Philippine Sea (WPS), with nine People’s Liberation Army Navy (PLAN) ships spotted in the area from only three in the past few days, according to the Philippine Navy.
MANILA, Philippines — Choco Mucho pulled a rabbit out of the hat in Mean Mendrez as it repulsed Cignal, 25-16, 25-11, 23-25, 19-25, 15-12, yesterday to revive its quarterfinals hopes in the Premier Volleyball League Reinforced Conference at the PhilSports Arena.