Alcorn Gold Resources Corporation (PSE: APM) is a holding company which is primarily engaged in the exploration of oil and mineral resource. APM has the following service contracts:
Among APM’s SCs, SC 14 (B1) is producing and SC 51 is at the most advanced stage of exploration. SC 14 (B1) North Matinloc is producing in a cyclical manner where 16,107 barrels of oil were extracted in 2011. SC 51, an onshore oil exploration interest of the Company in Norhtern Leyte, is expected to initiate drilling this year with Otto Energy as the Operator.
APM has the following mining claims:
On December 12, 2012, the shareholders of the Company approved the resolutions of the Board of Directors to: 
- Increase the capital stock and change of par of the Company from P3 billion with a par value of P.01 to P10 billion with a par value of P1.
- Change of name from APM to COSCO CAPITAL, INC.
- Spin-off of the oil and mineral assets to a wholly owned subsidiary.
- Confirm the subscription of the Lucio Co Group of 4,987,560,379 APM shares at P15 each through share for share swap of the following companies: 
Below is the basis of the P74,813,405,682 (4,987,560,379 shs x P15) subscription price: 
APM, to be renamed as Cosco Capital, Inc. upon approval by the Securities and Exchange Commission is intended to be the Lucio L. Co Group’s holding firm. Lucio L. Co Group cosnists of Lucio L. Co, Susan P. Co, Ferdinand Vincent P. Co, Pamela Justine P. Co, Camille Clarisse P. Co, Katrina Marie P. Co and Jose Paulino Santamarina. The Company expects the holding firm’s market capitalization to increase to P93 billion (or a per share market value of P15 [P93 billion/6 billion shares]) and the Company’s public float to fall to 6% from the current 30-35%.
- Stockholders’ approval of increase in authorized capital stock, change in par value, subscription by Lucio L. Co Group, change in corporate name, reorganization and spin-off of oil and mineral assets and operations; appointment of officers, http://www.pse.com.ph/resource/disclosures/2012/pdf/dc2012-8957_APM.pdf
- Additional Information re: subscription by Lucio L. Co Group, http://www.pse.com.ph/resource/disclosures/2012/pdf/dc2012-9279_APM.pdf
- Supplement to previous disclosure re: subscription by Lucio L. Co Group, http://www.pse.com.ph/resource/disclosures/2012/pdf/dc2012-9383_APM.pdf