Mining firm moves to stop auction of 40% stake in Kalinga copper-gold project
BY LEANDER C. DOMINGO
KALINGA—Calcius Resources Ltd. is mounting further legal action to prevent the planned Sept. 8 auction of its 40-percent interest in Makilala Mining Company Inc. (MMCI), as its dispute with Equinaire Holdings Ltd. over a loan and security agreement moves toward arbitration.
RTC denies plea but leaves core issues open
Celsius said it will file a Motion for Reconsideration after the Makati Regional Trial Court (RTC) denied its petition seeking interim protection against foreclosure of the Omnibus Loan and Security Agreement (OLSA) and disposition of its MMCI interest.
The denial, however, did not rule that a default had occurred or that Equinaire is legally entitled to foreclose on Celsius' stake, the company said. The court said the substantive issues ...








