PSE Circular for Brokers No. 1859-98
PSE Circular for Brokers No. 1859-98 • Philippine Stock Exchange • Circulars for Brokers • Aug 8, 1998
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August 8, 1998 PSE CIRCULAR FOR BROKERS NO. 1859-98 July 31, 1998 Philippine Stock Exchange Inc. Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS JUNE 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During June, 580,811 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 7,796 DMT of concentrate averaging 27.33% of copper, 55.14 grams/DMT of gold and 63.62 grams/DMT of silver. The estimated contents of this output were 2,130,923 kilograms (4,697,875. lbs) of copper, 443,545 grams (14,260 ozs) of gold, including bullion, and 496,716 grams (15,970 ozs) of silver, including bullion: The estimated gross value, based on provisional metal prices, is P330.5 million. Shipments Two copper concentrate shipments totalling 11,339 WMT as well as gold bullion shipments' containing 671 ozs of gold and 34 ozs of silver were effected during the month in review with a corresponding gross value of P413 million. For the current month, one copper concentrate shipment is scheduled. Details will be announced in our next report. cdpr Philex Gold Philippines, Inc . (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During June, the Bulawan mine in Negros Occidental produced 168,052 grams (5,403 ozs) of gold and 199,653 grams (6,419 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P88.4 million. Shipments During the same period, 10,772 ozs of gold and 5,309 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P134 million. Sibutad Mine During June, the Sibutad mine in Zamboanga del Norte produced 25,864 grams (832 ozs) of gold and 45,020 grams (1,447 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P11 million. The mine is in pre-commercial operation. Shipments During the same period, 657 ozs of gold and 1,112 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P8.3 Million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD BRIMO Chairman & CEO
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