PSE Circular for Brokers No. 2486-98
PSE Circular for Brokers No. 2486-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 30, 1998
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October 30, 1998 PSE CIRCULAR FOR BROKERS NO. 2486-98 October 28, 1998 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS SEPTEMBER 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During September, 519,421 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,902 DMT OF concentrate averaging 26.35% of copper, 59.48 grams/DMT of gold 68.28 grams/DMT of silver. The estimated contents of this output were 1,818,829 kilograms (4,009,827 lbs) of copper, 421,877 grams (13,564 ozs) of gold, including bullion, and 471,875 grams (15,171 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P304.87 million. aisadc Shipments A copper concentrate shipment of 5,807 WMT was effected during the month in review with a corresponding gross value of P217.75 million. For the current month, one copper concentrate shipment is scheduled. Details will be announced in our next report. Philex Gold Philippines, Inc . (a subsidiary of Philex Mining Corporation) Gold Operations Bulawan Mine During September, the Bulawan mine in Negros Occidental produced 132,877 grams (4,272 ozs) of gold and 215,604 grams (6,932 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P66.2 million. LexLib Shipments During the same period, 4,751 ozs of gold and 7,417 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P61.8 million. Sibutad Mine During September, the Sibutad mine in Zamboanga del Norte produced 32,925 grams (1,059 ozs) of gold and 43,450 grams (1,395 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P13.4 million. The mine is in pre-commercial operation. Shipments During the same period, 1,159 ozs of gold and 1,329 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P14.6 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
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