PSE Circular for Brokers No. 1964-98

August 25, 1998 PSE CIRCULAR FOR BROKERS NO. 1964-98 August 17, 1998 The Commissioner Securities and Exchange Commission SEC Building, EDSA Mandaluyong, Metro Manila SUMMARY OF OPERATIONS FOR THE MONTH OF JULY 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 July 1998. Tonnes of ore treated 55,904 DMT ( 61,624 DST ) Average gold content of ore 7.04 g/tonne ( 0.21 oz./DST ) Average silver content of ore 22.03 g/tonne ( 0.64 oz./DST ) From the above, 669.647 kgs. of bullion were produced and are estimated to contain: 352,372 grams of gold ( 11,329 ozs. ) 296,602 grams of silver ( 9,536 ozs. ) During July 1998, metal recoveries were: Gold: 90.18%, and Silver: 24.03%. Number of days in operation: 31 days for the CIP Gold Mill Refinery. Very truly yours, (SGD.) ARTEMIO F. DISINI President August 17, 1998 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 July 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 July 1998 June 1998 Jan.-July Jan.-July Gold Production: Volume of Bullion 670 kgs. 609 kgs. 4,627 kgs. 2,456 kgs. Bullion in process ( 95 kgs.) T O T A L 670 kgs. 609 kgs. 4,532 kgs. 2,456 kgs. ======== ======== ======== ======= Value of Metal Content P141,055,017 P138,797,178 P1,006,498,388 P434,094,304 Copper Production: Volume of 2,358 DMT Concentrate (2,599 DST) Value of metal Content P61,309,390 P141,055,017 P138,797,178 P1,006,498,388 P495,403,694 ========== ========== =========== ========== We hope that the above report meets your requirement. Please let us know if there is any related information which we have not incorporated. cdt Very truly yours, (SGD.) ARTEMIO F. DISINI President