BY F. YAP SECURITIES / 2TRADEASIA
Unnamed sources claimed Island Information & Technology (IS) is conducting due diligence on mining firm, JVDC Resources, for a possible entry into a merger, consolidation, mutual purchase or exchange of shares.
IS is set to discuss the details of the financial arrangements with shareholders next week.
JVDC owns a Mineral Production Sharing Agreement (MPSA) on a 13, 240ha mine site in Cagayan.
No official confirmation has been given by IS on this matter.