PSE Circular for Brokers No. 429-99
PSE Circular for Brokers No. 429-99 • Philippine Stock Exchange • Circulars for Brokers • Mar 8, 1999
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March 8, 1999 PSE CIRCULAR FOR BROKERS NO. 429-99 February 27, 1999 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS JANUARY 1999 Gentlemen : 1. Philex Mining Corporation Copper Operations During January, 513,400 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 6,357 DMT of concentrate averaging 22.66% of copper, 51.93 grams/DMT of gold and 60.47 grams/DMT of silver. The estimated contents of this output were 1,440,678 kilograms (3,176,147 lbs) of copper, 344,418 grams (11,073 ozs) of gold, including bullion, and 385,283 grams (12,387 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P222.5 million. LexLib Shipments Two copper concentrate shipments totalling 9,582 WMT as well as gold bullion shipments containing 246.196 ozs of gold and 16.03 ozs of silver were effected during the month in review with a corresponding gross value of P264.06 million. For the current month, a 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 200,931 grams (6,460 ozs) of gold and 294,164 grams (9,458 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P74.2 million. Shipments During the same period, 5,266 ozs of gold and 7,793 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P59.4 million. LLjur Sibutad Mine During January, the Sibutad mine in Zamboanga del Norte produced 16,584 grams (533 ozs) of gold and 30,587 grams (983 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P5.6 million. The mine is in pre-commercial operation. cdll Shipments During the same period, 837 ozs of gold and 798 ozs of silver were sold to Johnson Matthey, England with corresponding gross value of P9.4 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
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