PSE Circular for Brokers No. 711-99
PSE Circular for Brokers No. 711-99 • Philippine Stock Exchange • Circulars for Brokers • Apr 12, 1999
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April 12, 1999 PSE CIRCULAR FOR BROKERS NO. 711-99 March 29, 1999 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS FEBRUARY 1999 Gentlemen : I. Philex Mining Corporation Copper Operations During February, 570,942 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 5,824 DMT of concentrate averaging 25.70% of copper, 59.85 grams/DMT of gold and 67.76 grams/DMT of silver. The estimated contents of this output were 1,496,645 kilograms (3,299,533 lbs) of copper, 362,686 grams (11,661 ozs) of gold, including bullion, and 395,548 grams (12,717 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P190 million. LLjur Shipments A copper concentrate shipment of 4,531 WMT as well as gold bullion shipments containing 503 ozs of gold and 2,959 ozs of silver were effected during the month in review with a corresponding gross value of P146.5 million. 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 February, the Bulawan mine in Negros Occidental produced 248.293 grams (7,983 ozs) of gold and 374,284 grams (12,034 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P84.4 million. Shipments During the same period, 9,331 ozs of gold and 12,709 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P108 million. Sibutad Mine During February, the Sibutad mine in Zamboanga del Norte produced 12,834 grams (413 ozs) of gold and 21,495 grams (691 ozs) of silver with an estimated gross value, based on provisional prices for gold and silver, of P5.3 million. The mine is in pre-commercial operation. LexLib Shipments During the same period, 333 ozs of gold and 1,597 ozs of silver were sold to Johnson Matthey, England with corresponding gross value of P4.0 million. Very truly yours, PHILEX MINING CORPORATION GERARD H. BRIMO Chairman, President & CEO
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