PSE Circular for Brokers No. 1758-98

July 29, 1998 PSE CIRCULAR FOR BROKERS NO. 1758-98 July 27, 1998 The Commissioner Securities and Exchange Commission SEC Building, EDSA Mandaluyong, Metro Manila SUMMARY OF OPERATIONS FOR THE MONTH OF JUNE 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 June 1998. Tonnes of ore treated 52,325 DMT (57,678 DST) Average gold content of ore 7.32 g/tonne (0.21 oz./DST) Average silver content of ore 20.42 g/tonne (0.58 oz./DST) From the above, 607,912 kgs. of bullion were produced and are estimated to contain: aisadc 345,809 grams of gold (11,118 ozs.) 242,390 grams of silver ( 7,793 ozs.) During June 1998, metal recoveries were: Gold: 90.77%, and Silver: 23.25%. Number of days in operation: 29 days for the CIP Gold Mill Refinery. Very truly yours, (SGD.) ARTEMIO F. DISINI President The Commissioner Securities and Exchange Commission SEC Building, EDSA Mandaluyong, Metro Manila Attention: Dir . Eugenio Beyes Brokers & Exchange Dept . Gentlemen : We are pleased to report that our June 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 June 1998 May 1998 Jan-June Jan--June Gold Production: Volume of Bullion 608 kgs. 649 kgs. 3,953 kgs. 1,714 kgs. Bullion in Process - (95 kgs.) - T O T A L 608 kgs. 649 kgs. 3.858 kgs. 1,714 kgs ====== ====== ======== ======= Value of Metal Content P138,797,178 P136,648,675 P865,458,145 P323,510,692 Copper Production: Volume of - 2,358 DMT Concentrate - - - (2,599 DST) Value of Metal Content - - - P61,309,390 P138,797,178 P136,648,675 P865,458,145 P384,820,082 =========== ========== ========== ========== 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