Philippine Stock Exchange Inc.
PSE Circular for Brokers No. 317-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 9, 1998
Full text
March 9, 1998 PSE CIRCULAR FOR BROKERS NO. 317-98 February 27, 1998 Philippine Stock Exchange Inc. Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS JANUARY 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During January, 504, 614 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,795 DMT of concentrate averaging 27.88% of copper, 51.76 grams/DMT of gold and 66.00 grams/DMT of silver. The estimated contents of this output were 1,894,613 kilograms (4,176,902 lbs) of copper, 425,192 grams (13,670 ozs) of gold, including bullion, and 452,489 grams (14,548 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P329.452 million. Shipments A copper concentrate shipment of 5,822 WMT as well as gold bullion shipments containing 2,480 ozs of gold and 131 ozs of silver were effected during the month, in review with a corresponding gross value of P250.376 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 January, the Bulawan mine in Negros Occidental produced 153.629 grams (4,939 ozs) of gold and 365,827 grams (11,762 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P76.7 million. cdpr Shipments During the same period, 6,110 ozs of gold and 12,275 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P95.848 million. Sibutad Mine During January, the Sibutad mine in Zamboanga del Norte produced 26,478 grams (851 ozs) of gold and 65,091 grams (2,093 ozs) of silver with an estimated gross value based on provisional prices for gold and silver, of P11 million. The mine is in pre-commercial operation. Shipments During the same period, 1,213 ozs of gold and 2,547 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P15,667 million. prLL 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.