PSE Circular for Brokers No. 1305-99
PSE Circular for Brokers No. 1305-99 • Philippine Stock Exchange • Circulars for Brokers • May 26, 1999
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May 26, 1999 PSE CIRCULAR FOR BROKERS NO. 1305-99 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS APRIL 1999 Gentlemen : 1. Philex Mining Corporation Copper Operations During April, 580,710 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,661 DMT of concentrate averaging 26.65% of copper, 69.10 grams/DMT of gold and 78.16 grams/DMT of silver. The estimated contents of this output were 1,775,141 kilograms (3,913,512 lbs) of copper, 471,505 grams (15,159 ozs) of gold, including bullion, and 521,262 grams (16,759 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P230.8 million. Shipments Two copper concentrate shipments totalling 10,866 WMT as well as gold bullion shipments containing 592.82 ozs of gold and 33.410 ozs of silver were effected during the month in review with a corresponding gross value of P360.11 million. For the current month, one copper concentrate shipment is scheduled. Details will be announced in our next report. Philex Gold Philippines, Inc. (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During April, the Bulawan mine in Negros Occidental produced 220.066 grams (7,075 ozs) of gold and 327,761 grams (10,538 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P77.5 million. LexLib Shipments During the same period, 7,415 ozs of gold and 9,539 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P81.4 million. Sibutad Mine During April, the Sibutad mine in Zamboanga del Norte produced 13,770 grams (443 ozs) of gold and 11,983 grams (385 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P4.8 million. The mine is in pre-commercial operation. Shipments During the same period, 470 ozs of gold and 616 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P5.2 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman, President & CEO
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