PSE Circular for Brokers No. 2039-99
PSE Circular for Brokers No. 2039-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 17, 1999
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August 17, 1999 PSE CIRCULAR FOR BROKERS NO. 2039-99 July 29, 1999 Philippine Stock Exchange, Inc. Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS June 1999 Gentlemen : I. Philex Mining Corporation Copper Operations During June, 597,048 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6.589 DMT of concentrate averaging 26.82% of copper, 69.47 grams/DMT of gold and 78.27 grams/DMT of silver. The estimated contents of this output were 1,767,310 kilograms (3,896,248 lbs) of copper, 489,705 grams (15,744 ozs) of gold, including bullion, and 517,603 grams (16,641 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P240.0 million. Shipments A copper concentrate shipments of 5.523 WMT as well as gold bullion shipments containing 518,137 ozs of gold and 28.27 ozs of silver were effected during the month in review with a corresponding gross value of P188.54 million. For the current month, two copper concentrate shipments are scheduled. Details will be announced in our next report. Philex Gold Philippines, Inc . (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During June, the Bulawan mine in Negros Occidental produced 208.225 grams (6,695 ozs) of gold and 298,999 grams (9,613 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P68 million. Shipments During the same period, 8,212 ozs of gold and 11,558 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P83 million. Sibutad Mine During June, the Sibutad mine in Zamboanga del Norte produced 6,068 grams (195 ozs) of gold and 4,155 grams (134 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P1.9 million. The mine is in pre-commercial operation. Shipments There were no shipments effected during the same period. Very truly yours, PHILEX MINING CORPORATION (SGD.) ALFREDO A. FIGUERAS SVP-Treasurer
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