PSE Circular for Brokers No. 2020-98
PSE Circular for Brokers No. 2020-98 • Philippine Stock Exchange • Circulars for Brokers • Sep 1, 1998
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September 1, 1998 PSE CIRCULAR FOR BROKERS NO. 2020-98 August 26, 1998 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS JULY 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During July, 514,832 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,674 DMT of concentrate averaging 28.23% of copper, 62.94 grams/DMT of gold and 71.93 grams/DMT of silver. The estimated contents of this output were 1,884,119 kilograms (4,153,767 lbs) of copper, 420,047 grams (13,505 ozs) of gold, including bullion, and 480,047 grams (15,434 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P263.05 million. Shipments A copper concentrate shipment of 5,846.494 WMT as well as gold bullion shipments containing 614.846 ozs of gold and 31.36 ozs of silver were effected during the month in review with a corresponding gross value of P244.3 million. LLphil For the current month, one copper concentrate shipment in scheduled. Details will be announced in our next report. Philex Gold Philippines, Inc. (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During July, the Bulawan mine in Negros Occidental produced 148,409 grams (4,771 ozs) of gold and 210,061 grams (6,754 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P71.2 million. Shipments During the same period, 4,027 ozs of gold and 7,484 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P50.0 million. Sibutad Mine During July, the Sibutad mine in Zamboanga del Norte produced 21,517 grams (692 ozs) of gold and 36.498 grams (1,173 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P8.5 million. The mine is in pre-commercial operation. Shipments During the same period, 377 ozs of gold and 864 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P4.7 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
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