PSE Circular for Brokers No. 732-98
PSE Circular for Brokers No. 732-98 • Philippine Stock Exchange • Circulars for Brokers • Apr 21, 1998
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April 21, 1998 PSE CIRCULAR FOR BROKERS NO. 732-98 March 31, 1998 Philippine Stock Exchange Inc . Exchange Road, Pasig City SUMMARY OF PRODUCTION & SHIPMENTS FEBRUARY 1998 Gentlemen : I. Philex Mining Corporation Copper Operations During February 575,386 DMT of disseminated copper/gold ore were delivered by the mine and treated at the Banget flotation facilities. The estimated resultant production totalled 8,026 DMT of concentrate averaging 28.05% of copper, 49.87 grams/DMT of gold and 64.01 grams/DMT of silver. The estimated contents of this output were 2,251,567 kilograms (4,963,850 lbs) of copper, 490,489 grams (15,570 ozs) of gold, including bullion, and 518,871 grams (16,682 ozs) of silver, including bullion. The estimated gross value, based on provisional metal prices, is P354 million. Shipments Two copper concentrate shipments totalling 10,787.059 WMT as well as gold bullion shipments containing 2,676 ozs of gold and 140 ozs of silver were effected during the month in review with a corresponding gross value of P408 million. cdlex 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 February, the Bulawan mine in Negros Occidental produced 119,313 grams (3,836 ozs) of gold and 157,010 grams (5,048 ozs) of silver with an estimated gross value, bases on provisional prices for gold and silver, of P55 million. Shipments During the same period, 2,792 ozs of gold and 6,289 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P34.536 million. LibLex Sibutad Mine During February, the Sibutad mine in Zamboanga del Norte produced 14,712 grams (473 ozs) of gold and 37,013 grams (1,190 ozs) of silver with an estimated gross value, based on provincial prices for gold and silver, of P4 million. The mine is in pre-commercial operation. Shipments During the same period, 304 ozs of gold and 893 ozs of silver were sold to Johnson Matthey, England with a corresponding gross value of P3.833 million. Very truly yours, PHILEX MINING CORPORATION (SGD.) GERARD H. BRIMO Chairman & CEO
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