PSE Circular for Brokers No. 084-99

January 19, 1999 PSE CIRCULAR FOR BROKERS NO. 084-99 January 12, 1999 The Commissioner Securities and Exchange Commission SEC Building, EDSA Mandaluyong, Metro Manila SUMMARY OF OPERATIONS FOR THE MONTH OF NOVEMBER 1998 Dear Sir: For the information of the commissioner and the stock exchange, we submit below the figures covering our operations for the month of November 1998. Tonnes of ore treated 56,408 DMT (62,179 DST) Average gold content of ore 8.08 g/tonne (0.24 oz./DST) Average silver content of ore 25.23g/tonne (0.74 oz./DST) From the above, 816.321 kgs. of bullion were produced and are estimated to contain: 416,911 grams of gold (13,404 ozs.) 364,906 grams of silver (11,732 ozs.) During November, 1998 metal recoveries were: Gold: 91.99%, and Silver: 25.91%. Number of days in operation: 28.33 days for the CIP Gold Mill Refinery. LLphil Very truly yours, (SGD.) ARTEMIO F. DISINI President January 12, 1999 The Commissioner Securities and Exchange Commission SEC Building, EDSA Mandaluyong, Metro Manila Attention: Dir . Eugenio Reyes Brokers & Exchange Dept . Gentlemen: We are pleased to report that our November 1998 production compared to that of the preceding month and the same month of 1997 is as follows: This Year Last Year This Month Last Month 1998 1997 Production Nov. 1998 Oct. 1998 Jan.-Nov. Jan.-Nov. Gold Production: Vol. Of Bullion (kgs.) 816 813 7,750 5,323 Vol. Of Bullion in process Addition/Deduction (kgs.) 0 0 (95) 0 Total 816 813 7,655 5,323 Value of Metal Content P165,455,373 P153,377,310 P1,640,084,681 P940,614,907 Copper Production: Vol. Of Concentrate (DMT) 0 0 0 2,358 (DST) 0 0 0 2,599 Value of Metal Content P0 P0 P0 P61,309,390 Aggregate Value of Production P165,455,373 P153,377,310 P1,640,084,681 P1,001,924,297 We hope that the above report meets your requirement. Please let us know if there is any related information which we have not incorporated. Very truly yours, (SGD.) ARTEMIO F. DISINI President