FINAL EXTENSION OF DEADLINE FOR COMPLIANCE WITH THE TRANSITORY PROVISION OF DENR MEMORANDUM ORDER NO. 99-10 AND FOR OTHER RELATED PURPOSES

To insure that the provisions of DENR Memorandum Order (DMO) No.
99-10 re: Guidelines in the Determination of Qualified Persons for
Mining Applications and Mining Rights are fully implemented, especially
Section 5 thereof or the Transitory Provision, this Memorandum Order is
hereby promulgated for the compliance by all concerned:

SECTION 1.       Final Extension of Deadline for the Compliance with the Transitory Provision of DMO No. 99-10. 
The May 6, 2000 deadline for compliance with the provisions of DMO No.
99-10 by concerned mining applicants shall be extended finally for three
(3) months or up to August 7, 2000. Failure by the concerned mining
applicants to comply with this provision shall cause the denial of their
mining applications.

SECTION 2.       Considerations in the Processing of Pending Mining Applications.  In
the processing of pending applications for Exploration Permit, Mineral
Agreement or Financial or Technical Assistance Agreement in relation to
the Transitory Provision of DMO No. 99-10, the Mines and Geosciences
Bureau (MGB) shall be guided by the following considerations:

a.    Every concerned mining applicant is required to submit on or before August 7, 2000 the following documents:

i.        Letter of Intent to comply with DMO No. 99-10;

ii.       Securities and Exchange Commission (SEC)/Cooperative
Development Authority (CDA) -certified copy of approved Articles of
Incorporation/Cooperation showing a minimum authorized capital of PhP 10
Million and paid-up capital of PhP 2.5 Million: Provided, That in case
of a mining applicant who has filed the necessary application for
increase in capitalization at the SEC/CDA on or before August 7, 2000
but has not secured the necessary approval on that same date, a
certification by the SEC/CDA attesting that such application has been
filed on or before August 7, 2000 and that all supporting documents have
been complied with, shall be accepted as a temporary compliance of this
item;

iii.      Curriculum vitae and track records in mining
operations and environmental management of the technical personnel who
shall undertake the activities in the submitted Work Program/s; and

iv.      Affidavit of Undertaking (per Annex A of DMO No. 99-10).

b.      Concerned mining applications wherein the mining
applicants have not submitted any of the documents under items ii, iii
and iv above shall be denied by the concerned Regional Office or Central
Office of the MGB, as the case may be, thru the issuance of an Order of
Denial of Mining Application.

c.      Concerned mining applicants who have complied with the
submission of the abovementioned documents on or before August 7, 2000
but determined to have exceeded the maximum areas per Qualified Person
pursuant to Sections 3 and 4 of DMO No. 99-10 shall likewise be denied
by the concerned Regional Office or Central Office of the MGB, as the
case may be, thru the issuance of an Order of Denial of Mining
Application.

d.      Concerned mining applications involved in a dispute/case
shall have a period of six (6) months after final resolution of said
dispute/case to comply with the Transitory Provision of DMO No. 99-10.

Procedural guidelines may be issued by the MGB Director in the implementation of the foregoing provisions.

SECTION 3.       Repealing and Amending Clause. All
existing orders, memoranda, directives or part/s thereof, contrary or
inconsistent with the provisions of this Memorandum Order, are hereby
repealed, amended and/or modified accordingly.

SECTION 4.       Effectivity.   This Memorandum
Order shall take effect fifteen (15) days after its complete publication
in a newspaper of general circulation and fifteen (15) days after
registration with the Office of the National Administrative Register.

Adopted: 03 May 2000

(SGD.) ANTONIO H. CERILLES
Secretary