PSE Circular for Brokers No. 2173-99
PSE Circular for Brokers No. 2173-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 31, 1999
Full text
August 31, 1999 PSE CIRCULAR FOR BROKERS NO. 2173-99 August 25, 1999 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS July 1999 Gentlemen : I. Philex Mining Corporation Copper Operations During July, 657,763 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 8.020 DMT of concentrate averaging 26.80% of copper, 65.13 grams/DMT of gold and 74.78 grams/DMT of silver. The estimated contents of this output were 2,149,099 kilograms (4,737,947 lbs) of copper, 593,827 grams (19,092 ozs) of gold, including bullion, and 604,132 grams (19,423 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P321.3 million. Shipments Two copper concentrate shipments totalling 9,567.46 WMT as well as gold bullion shipments containing 1.740 ozs of gold and 103.53 ozs of silver were effected during the month in review with a corresponding gross value of P339.23 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 July, the Bulawan mine in Negros Occidental produced 188,725 grams (6.068 ozs) of gold and 259,878 grams (8.355 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver of P64.1 million. Shipments During the same period, 5,230 ozs of gold and 7,566 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P53 million. Sibutad Mine During July, the Sibutad mine in Zamboanga del Norte produced 3,313 grams (107 ozs) of gold and 1,906 grams (61 ozs) of silver with an estimated gross value based on provisional prices for gold and silver of P3.4 million. The mine is in pre-commercial operation. Shipments During the same period, 437 ozs of gold and 275 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P4.3 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.