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    [results] => Array
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            [0] => Array
                (
                    [ArticleID] => 336719
                    [Title] => Lafayette creditors threaten to take ‘drastic action’
                    [Summary] => 



Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week.


According to government sources, Lafayette has not been able to service its outstanding debts to its creditors since the stoppage of its mining operations in October last year.


Lafayette’s exposure include a $35 million debt financing facility, a A$140- million hedged market to market exposure and a A$60-million metal forward contract liability.


                    [DatePublished] => 2006-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 335726
                    [Title] => Permanent shutdown of Rapu-Rapu to result in loss of $259M for Lafayette Phils
                    [Summary] => The closure of Lafayette Philippines Inc.’s (LPI) Rapu-Rapu mining project in Albay would result in the loss of $259 million in investments and loss of employment for about 1,000 workers.


This was disclosed to Cecilia K. Songco, officer-in-charge of the Mining Division of the Board of Investments, by Manuel A. Agcaoili, president of Rapu-Rapu Processing, Inc., a subsidiary of Lafayette.


Songco had recently sought information regarding the possible reopening of the Rapu-Rapu Polymetallic project of Lafayette in Rapu-Rapu, Albay.


                    [DatePublished] => 2006-05-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 272010
                    [Title] => Australian mining company to expand RP operations
                    [Summary] => Lafayette Mining Ltd., an Australian publicly-listed company is raising $4 million or about P216 million to expand the mining activities of its local unit, Lafayette Philippines Inc. (LPI). 


Company officials said in a recent disclosure to the Australian Stock Exchange  (ASE) that it has retained Haywood Securities to raise $4 million through a placement of 20 million shares at 20 cents per share with overseas institutional and professional investors. 


                    [DatePublished] => 2005-03-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

INVESTEC BANK

Array
(
    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 336719
                    [Title] => Lafayette creditors threaten to take ‘drastic action’
                    [Summary] => 



Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week.


According to government sources, Lafayette has not been able to service its outstanding debts to its creditors since the stoppage of its mining operations in October last year.


Lafayette’s exposure include a $35 million debt financing facility, a A$140- million hedged market to market exposure and a A$60-million metal forward contract liability.


                    [DatePublished] => 2006-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 335726
                    [Title] => Permanent shutdown of Rapu-Rapu to result in loss of $259M for Lafayette Phils
                    [Summary] => The closure of Lafayette Philippines Inc.’s (LPI) Rapu-Rapu mining project in Albay would result in the loss of $259 million in investments and loss of employment for about 1,000 workers.


This was disclosed to Cecilia K. Songco, officer-in-charge of the Mining Division of the Board of Investments, by Manuel A. Agcaoili, president of Rapu-Rapu Processing, Inc., a subsidiary of Lafayette.


Songco had recently sought information regarding the possible reopening of the Rapu-Rapu Polymetallic project of Lafayette in Rapu-Rapu, Albay.


                    [DatePublished] => 2006-05-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 272010
                    [Title] => Australian mining company to expand RP operations
                    [Summary] => Lafayette Mining Ltd., an Australian publicly-listed company is raising $4 million or about P216 million to expand the mining activities of its local unit, Lafayette Philippines Inc. (LPI). 


Company officials said in a recent disclosure to the Australian Stock Exchange  (ASE) that it has retained Haywood Securities to raise $4 million through a placement of 20 million shares at 20 cents per share with overseas institutional and professional investors. 


                    [DatePublished] => 2005-03-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

Lafayette creditors threaten to take ‘drastic action’

By Marianne V. Go | May 15, 2006 - 12:00am

Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week. According...

Business

Permanent shutdown of Rapu-Rapu to result in loss of $259M for Lafayette Phils

By Marianne V. Go | May 9, 2006 - 12:00am

The closure of Lafayette Philippines Inc.’s (LPI) Rapu-Rapu mining project in Albay would result in the loss of $259 million in investments and loss of employment for about 1,000 workers. This was disclosed...

Business

Australian mining company to expand RP operations

By Rocel Felix | March 30, 2005 - 12:00am

Lafayette Mining Ltd., an Australian publicly-listed company is raising $4 million or about P216 million to expand the mining activities of its local unit, Lafayette Philippines Inc. (LPI). Company officials said...

Business