July 23, 2014 1:00 PM ET

Metals and Mining

Company Overview of Marcventures Holdings, Inc.

Company Overview

Marcventures Holdings, Inc., through its subsidiary, Marcventures Mining & Development Corporation, primarily explores for, develops, and mines nickel ores in the Philippines. The company also explores for chromites, copper, gold, manganese, and other ores and/natural metallic or nonmetallic resources. It has a mineral production sharing agreement that covers an area of approximately 4,799 hectares located in the Diwata mountain range of Surigao del Sur. Marcventures Holdings, Inc. also exports its products to China. The company was formerly known as AJO.net Holdings, Inc. The company was incorporated in 1957 and is based in Makati City, the Philippines. Marcventures Holdings, Inc. is a subs...

Citibank Tower

Unit 16A

16th Floor

Paseo de Roxas

Makati City,  

Philippines

Founded in 1957

417 Employees

Phone:

63 2 836 8609

Key Executives for Marcventures Holdings, Inc.

Marcventures Holdings, Inc. does not have any Key Executives recorded.

Marcventures Holdings, Inc. Key Developments

Marcventures Holdings, Inc. Proposes Amendment of Articles of Incorporation

Marcventures Holdings, Inc. proposed to consider ratification of Management's Acts 6. (A) Amendment of the Articles of Incorporation: (a) to change the Principal Office address; and (b) to include in its purpose the issuance of corporate guarantees and sureties in favor of its subsidiaries and affiliates; (B) Amendment of the By Laws: (a) to change the annual meeting to last Friday of May of each year and (b) to grant compensation to the members of the board at its upcoming annual general meeting going to be held on June 27, 2014.

Marcventures Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Marcventures Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported a turnaround with a profit of PHP 50.57 million in the first quarter against a year-earlier loss of PHP 26.69 million. Ore sales totaled PHP 245.85 million, following zero sales a year earlier after heavy rains derailed mining operations. Income from operations was PHP 48,558,635 compared to loss from operations of PHP 23,075,345 a year ago. Income before income tax was PHP 50,570,424 compared to loss from operations of PHP 26,688,036 a year ago. Diluted EPS was PHP 0.03 compared to PHP 0.014 a year ago. Net cash provided by operating activities was PHP 18,237,270 compared to net cash used in operating activities of PHP 39,280,915 a year ago. Additions to property and equipment were PHP 97,714,569 compared to PHP 743,443 a year ago. Additions to other noncurrent assets were PHP 1,243,804 compared to PHP 1,966,779 a year ago. Additions to mine and mining properties were PHP 5,263,016.

Marcventures Holdings, Inc. Announces Consolidated Earnings Results for the Year Ended December 31, 2013

Marcventures Holdings, Inc. announced consolidated earnings results for the year ended December 31, 2013. For the year, the company reported income from operations of PHP 1,056,070,068 against PHP 129,455,135 a year ago. Income before income taxes was PHP 1,016,348,734 against PHP 113,707,356 a year ago. Net income was PHP 1,017,867,889 or PHP 0.56 per diluted share against PHP 114,566,493 or PHP 0.06 per diluted share a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 20, 2014
--
Private Placement
August 2, 2013
Marcventures Mining and Development Corporation
 

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