PSE Circular for Brokers No. 2715-98
PSE Circular for Brokers No. 2715-98 • Philippine Stock Exchange • Circulars for Brokers • Dec 4, 1998
Full text
December 4, 1998 PSE CIRCULAR FOR BROKERS NO. 2715-98 Philippine Stock Exchange Inc. Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS OCTOBER 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During October, 518,331 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,529 DMT of concentrate averaging 26.04% of copper, 58.83 grams/DMT of gold and 67.09 grams/DMT of silver. The estimated contents of this output were 1,700,428 kilograms (3,748,798 lbs) of copper, 393,006 grams (12,635 ozs) of gold, including bullion, and 438,629 grams (14,102 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P271.8 million. Shipments A copper concentrate shipment of 5,498 WMT as well as gold bullion shipments containing 364 ozs of gold and 19 ozs of silver were effected during the month in review with a corresponding gross value of P203.05 million. aisadc 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 October, the Bulawan mine in Negros Occidental produced 209,591 grams (6,739 ozs) of gold and 359,167 grams (11,547 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P84.4 million. cd Shipments During the same period, 6,460 ozs of gold and 14,157 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P81.7 million. Sibutad Mine During October, the Sibutad mine in Zamboanga del Norte produced 17,290 grams (556 ozs) of gold and 18,019 grams (579 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P7.1 million. The mine is in pre-commercial operation. Shipments During the same period, 688 ozs of gold and 950 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P9.0 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.