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The Board of RTG Mining Inc. has announced the appointment of Mr. Kenneth Caruso to its Board of Directors, filling the vacancy left by the retirement of Mr. David Cruse. Caruso brings over 40 years of legal experience, including roles as a partner at White & Case and as an Assistant U.S. Attorney. His expertise will support the development of RTG's Mabilo Project in the Philippines. The company is also focused on advancing other opportunities like the Panguna Project, having recently received a mining permit for Mabilo, indicating a move towards establishing production.
RTG Mining Inc. (RTGGF) announced the lifting of a four-year ban on open-pit mining by the Philippines' Department of Environment and Natural Resources (DENR) through Department Administrative Order No. 2021-40, signed on December 23, 2021. This move is aimed at revitalizing the mining industry, promising economic benefits and job opportunities. RTG's Mabilo Project aligns with the DENR's standards for sustainable mining, expected to stimulate local economic growth. The company also indicates a focus on advancing this project while exploring other opportunities like the Panguna Project in Bougainville.
RTG Mining Inc. has successfully completed a private placement, issuing approximately 156.3 million Chess Depository Instruments at A$0.09 each, raising around US$10 million before costs. The placement targeted institutional and sophisticated investors, with lead managers Euroz Hartleys and Foster Stockbroking. Shareholder notice for director participation will follow. RTG is focused on advancing the Mabilo Project, having recently received a mining permit, while also exploring new opportunities like the Panguna Project. The press release includes forward-looking statements about market risks and project uncertainties.