PSE Circular for Brokers No. 033-99
PSE Circular for Brokers No. 033-99 • Philippine Stock Exchange • Circulars for Brokers • Jan 8, 1999
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January 8, 1999 PSE CIRCULAR FOR BROKERS NO. 033-99 December 22, 1998 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS NOVEMBER 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During November, 533,283 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,439 DMT of concentrate averaging 25.26% of copper, 56.00 grams/DMT of gold and 64.13 grams/DMT of silver. The estimated contents of this output were 1,626,441 kilograms (3,585,694 lbs) of copper, 370,619 grams (11,916 ozs) of gold, including bullion, and 413,497 grams (13,294 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P201.4 million. Shipments Two copper concentrate shipments totalling 10,041 WMT as well as gold bullion shipments containing 285 ozs of gold and 17 ozs of silver were effected during the month in review with a corresponding gross value of P343.98 million. For the current month, two copper concentrate shipments are scheduled. Details will be announced in our next report. Philex Gold Philippines, Inc . (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During November, the Bulawan mine in Negros Occidental produced 117,232 grams (3,769 ozs) of gold and 218,185 grams (7,015 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P49.3 million. LLpr Shipments During the same period, 3,360 ozs of gold and 5,128 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P40.5 million. Sibutad Mine During November, the Sibutad mine in Zamboanga del Norte produced 15,710 grams (505 ozs) of gold and 18,733 grams (602 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P6.4 million. The mine is in pre-commercial operation. Shipments During the same period, 555 ozs of gold and 588 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P6.7 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
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