In the Matter of Balanga Bataan Minerals Corp.

January 30, 2009 SEC EN BANC CASE NO. 03-08-0403 IN THE MATTER OF BALANGA BATAAN MINERALS CORPORATION SEC REGISTRATION NO. 0000099681 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, BALANGA BATAAN MINERALS CORPORATION is a stock corporation registered with the Commission on 29 June 1981 under SEC Registration No. 0000099681, with office address at No. 369 Adelfa St., San Jose, Balanga, Bataan, engaged in the business of mining, as stated in its Articles of Incorporation. SHaIDE On 11 August 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 08 July 2003, published on 11 July 2003 in the Philippine Daily Inquirer for non-filing of reports. Petitioner now prays for the setting aside of the said Order of Revocation dated 08 July 2003 on the following grounds: 1. that although there were no commercial operations yet, Petitioner already made exploration and administrative works, and the workers and employees involved would be laid off if the Revocation Order is not set aside; 2. that Petitioner has no intention to violate the law and any SEC rules and regulations; 3. that Petitioner commits to pay immediately any penalty as due for its failure to comply with the Commission's reportorial requirements; and 4. that Petitioner shall henceforth comply with the Commission's reportorial requirements religiously. In support of its Petition, Petitioner submitted the following documents: 1. Directors' Certificate dated 21 November 2007, certifying that at the special joint meeting of the stockholders and the directors held on the same date at Adelfa St., San Jose, Balanga City, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved; 2. Photocopy of Certification dated 30 June 2008 on occupation fees paid by Petitioner to the Municipality of Mariveles, Bataan; 3. Photocopy of Certification dated 08 July 2008 on occupation fees, paid by Benguet Corporation to the Municipality of Bagac, Bataan covering a portion of the approved MPSA No. P-111-17-96 granted to Petitioner for the period 2007 to 2008; 4. Photocopy of Certification dated 30 June 2008 on occupation fees paid by Benguet Corporation to the Municipality of Limay, Bataan covering a portion of the approved MPSA No. P-111-17-96 granted to Petitioner for the period 2007 to 2008; cCaSHA 5. Photocopy of 2006 Annual Income Tax Return received by the Bureau of Internal Revenue of Balanga City on 26 November 2007; and 6. Photocopy of 2008 Mayor's Permit, Municipality of Pilar, Bataan issued on 26 November 2008. Petitioner submitted its 2008 General Information Sheet, and 2006 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On 27 March 2008, Petitioner paid the fine of PhP11,000.00 under O.R. No. 0150706, for non/late filing/registration of the following on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2006 Financial Statements 1996-2005 2006 WHEREFORE, finding the submitted documents sufficient to establish Petitioner's intent to continue as a juridical entity, the Order of the Commission dated 08 July 2003, revoking the Certificate of Registration of BALANGA BATAAN MINERALS CORPORATION, is hereby SET ASIDE. However, Petitioner is directed to submit its 2009 Business Permit within thirty days (30) from date of receipt hereof. Failure on its part to comply with the said directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, January 30, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner on leave JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner