opportunity for a shift in business strategy. Global trends in metal prices and the preference for gold as the stable reserve definitely add value to mining resources available worldwide. Key acquisitions by MRC over the last several years include mining assets in various areas of Tampakan, Surigao, Davao and Boston-Cateel Mines with an aggregate area of over 25,000 hectares. MRC Tampakan Mines Area: 7,955 hectares Minerals: Copper Gold Location: Kiblawan, Davao del Sur and Columbio, Sultan Kudarat MRC Tampakan Project is MRC's flagship venture into mining exploration. This copper-gold tenement is situated next to Xstrata's Tampakan project in Mindanao – the largest copper-gold reserve in Asia and the 5th largest the world, which project explores 2.4 billion tonnes grading at 0.6% copper and over 15 million ounces of gold. MRC Surigao Mines Area: 3,718 hectares Minerals: Copper, Gold Location: Marihatag, Surigao del Sur Located within the famed "Gold Belt" of the south part of the Philippines, the MRC Surigao Copper-Gold Project is the company's second mining acquisition. MRC Davao Mines Area: 8,470 hectares Minerals: Copper, Gold Location: Paquibato, Davao Del Norte The MRC Davao Gold-Copper Project is located southeast of the Bukidnon-Davao porphyry copper-gold prospect of Indophil Resources NL within the Central Mindanao Cordillera region. MRC Boston-Cateel Area: 9,720 hectares Minerals: Gold Location: Boston, Davao Oriental and Cateel, Davao Oriental This is MRC's fourth mining asset acquisition and is situated at the foot of Mt. Diwalwal, an area with proven Gold reserves, neighboring both small-scale and large-scale active mining projects. In March 11,2022 MRC Allied Inc sold Tampakan Copper-Gold Project and Marihatag Copper-Gold Project in Tampakan, Davao Del Sur, and the Boston-Cateel Copper-Gold Project and Paquibato Copper-Gold Project in Davao Oriental and Davao Del Norte to Salvador “Buddy” Zamora, brother of Manuel “Manny” Zamora and Congressman Ronaldo “Ronnie” Zamora of the Zamora family, the Zamora family owns Nickel Asia Corporation, the largest nickel corporation in the Philippines. Renewable energy - The renewable energy projects of the company will be pursued mainly through its subsidiary Menlo Renewable Energy Corporation (MREN) and other affiliates 60 MW Naga Solar Project MREN will develop at least 60MW solar power plant within its property in Naga City, Cebu that can either supply electricity to the Visayas grid and/or offer its production to large power consumers within and around Southern Cebu. The project is currently in its pre-development phase and the development thereof is estimated at