PSE Circular for Brokers No. 2513-98
PSE Circular for Brokers No. 2513-98 • Philippine Stock Exchange • Circulars for Brokers • Nov 4, 1998
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November 4, 1998 PSE CIRCULAR FOR BROKERS NO. 2513-98 November 3, 1998 PHILIPPINE STOCK EXCHANGE INC . 4/F Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Disclosure Department Listings and Disclosure Group Gentlemen : On October 21 to 22, 1998 super-typhoon "Loleng" with maximum winds of 160 kph hit the Company's mine site in Longos, Paracale, Camarines Norte. Damages sustained were mostly on surface buildings and infrastructures while underground property and equipment were not affected. Typhoon signal no. 3 was raised over the Bicol region thus disrupting normal operations of the Company. Power from the national grid was cut on the eve of October 21, 1998 and has been restored on October 29, 1998. LLjur Production had been suspended since October 22, 1998 due to the limited power generated by the emergency units of the mine allowing only the pumps, ventilation fans and hoisting facilities to run. Normal operations resumed as soon as the Camarines Norte Electric Cooperative power was restored. Immediately after the typhoon, mine site maintenance and service personnel surveyed and assessed the damages for rehabilitation purposes. Thank you. Very truly yours, (SGD.) AUGUSTO B. SUNICO Corporate Secretary
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