Omico Corporation (OM) was incorporated on August 30, 1968 to operate, prospect, mine and deal with all kinds of ores, metals and minerals. The Itogon Gold Project of OM lies within the Baguio gold district, in the municipality of Itogon, Benguet. The property is prospective for both low-sulfidation epithermal vein gold mineralization and underlying porphyry Cu-Au mineralization. OM has previously undertaken small-scale underground mining and underground development on the property. OM has also expanded its business scope and diversified its operations into property investment and development of low-cost subdivision housing units with OM as landowner and the joint venture (JV) partner as developer. The company's Sta. Rosa Homes project, a residential undertaking comprised of 1,071 housing units, is currently ongoing and expected to be completed within five years from 2006 to 2010. OM also has a joint venture agreement on property development with Robinsons Homes, Inc. as developer, whereby OM contributed three parcels of land located in Tagaytay City. Robinsons Homes will develop on the said property a high-density two-phase residential subdivision, consisting of five 5-storey residential condominium buildings. OM also has an agreement with Sta. Lucia Realty and Development, Inc., Asian Pacific Estates Development Corporation (APEDC) and Asian Empire Corporation (AEC), whereby Sta. Lucia will develop into residential and commercial subdivisions the parcel of lands situated at Pinmaludpod, Urdaneta and owned by OM, APEDC and AEC. Source: SEC Form 17-A (2008)