Philex Mining Corporation
#31
Philex end-July output up 56%

PHILEX MINING Corp. yesterday reported a surge in its metal output as of July over year-ago levels, prompting it to project record high results for 2011.
The estimated value of ore production from its Padcal mine in the province of Benguet rose 56% to P9.52 billion for the seven-month tally from P6.12 billion in the same period last year, Philex said in a statement.

The value of its shipments, meanwhile, was up 85% to P9.47 billion from P5.13 billion in the same period last year as it had a total of eight shipments for the seven-month period this year compared to six shipments made from January to July 2010.

For the month of July alone, the value of its metal output amounted to P1.396 billion, up 44.8% from the P964 million in the same month a year ago.

The value of its ore shipments for July, meanwhile, amounted to P2.425 billion, 160.7% higher than the P930 million last year.

The two shipments amounting to 10,016 dry metric tons and valued at P2.425 billion, it said, were for Pan Pacific Copper Co. Ltd.

“With the expectation that metal prices will remain strong and the Padcal mine achieving its production goals in the second half, we are anticipating that the whole-year results could again be setting new record levels,” Philex Chairman Manuel V. Pangilinan said in the statement.

Philex earned P2.84 billion in core net income in the first semester, 188% higher than the P983.9 million in the same period last year.

Shares in Philex closed at P25.40 apiece on Friday, 0.59% lower than the previous day’s.

First Pacific, a majority owner of the Philippine Long Distance Telephone Co. (PLDT), is the single largest shareholder in Philex Mining with around 46.4% stake.

Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.


Source: bwoldonline.com

http://www.bworldonline.com/content.php?...%&id=36077
Reply
#32
“The combined Boyongan-Bayugo Measured and Indicated Resource contain an estimated metal
content of 4.9 billion lbs of copper and 9.0 million ounces of gold. These numbers are very close
to the estimates of our external consultants and boost our confidence in the resource estimate.
Recently, Philex entered into a joint venture agreement with Manila Mining Corporation (“MMC”)
that includes exploration to determine the extent of the Bayugo deposit into the adjacent
tenement of MMC. It is expected that after an agreed exploration program in the Kalayaan
tenement, the combined Bayugo-Kalayaan resource will be significantly enhanced."

complete disclosure here.

http://www.pse.com.ph/html/disclosure/pd...876_PX.pdf

good for PX, good for MA, this plus the FSE "chismis" if true, would be very good for mining in the philippines.
buy high, sell higher!

stock market abbreviations (for newbies)
http://www.stockmarketpilipinas.com/post...g#pid11738

"when it comes to trading, i'm just barely smart enough to realize that i'm a total idiot. i might be considered stupid, but on the intelligence scale, it puts me comfortably ahead of all the dumber people who thinks they're better than me."


Reply
#33
...congratulations glenchuy! with your last post here, you've become an SMP Member Finally hahaha Big Grin


Reply
#34
Philex ships P2b worth of metals, completes Silangan project study

Philex Mining Corp., one of the country's largest miners, shipped P2.425-billion worth of precious metals in July, the company told the Philippine Stock Exchange on Monday.

In a statement to the PSE, Philex said the two shipments were made to Pan Pacific Copper Co. Ltd., containing 20,659 ounces of gold, 5.6 million pounds of copper and 19,665 ounces of silver.

Meanwhile, production for July amounted to P1.396 billion. Of this P787 million is from gold, P591 million from copper and P18 million from silver.

In a separate statement, Philex also disclosed that it has completed the Mineral Resource estimate for the mining project of Silangan Mindanao Mining Co., a 100-percent owned subsidiary of Philex.

The Boyongan-Bayugo copper-gold porphyry deposit is located in the surigao Mineral District at the north-eastern tip of Mindanao Island in the Philippines.

"The combined Boyongan-Bayugo Measured and Indicated Resource contain an estimated metal content of 4.9-billion pounds of copper and 9 million ounces of gold. These numbers are very close to the estimates of our external consultants and boost our confidence in the resource estimate," said Manuel V. Pangilinan, Philex chairman.

Philex has recently entered into a joint venture with Manila Mining Corp., another listed miner, for the exploration to determine the extent of the Bayugo deposit into the adjacent tenement of Manila Mining.

Pangilinan added that the joint venture for combined Bayugo-Kalayaan resource is expected to be enhanced.


Source: gmanews.tv

http://www.gmanews.tv/story/228749/busin...ject-study
Reply
#35
Ang tibay ng stock na to mga sir. Mukang ok to for profits sa madugong stock market.

Nasa $1569/oz na gold. Smile
Reply
#36
tibay nga nito. kaso nabenta ko na sakin nung friday pa. abang na lang uli.
Reply
#37
(08-09-2011, 01:16 PM)aldrinosaurus Wrote: tibay nga nito. kaso nabenta ko na sakin nung friday pa. abang na lang uli.

Dapat kanina nung sa below 25,nung nakikita mo mga odd lots selling for 25 dapat bumili ka na
Reply
#38
ayaw kami pabilhin sa 23.80 Sad
If there's one more gift I ask of you Lord, it will be Peace... Here on Earth.
God is great... all the time
[Image: spyfratlogo.png]
Reply
#39
(08-09-2011, 01:18 PM)arthas.one Wrote:
(08-09-2011, 01:16 PM)aldrinosaurus Wrote: tibay nga nito. kaso nabenta ko na sakin nung friday pa. abang na lang uli.

Dapat kanina nung sa below 25,nung nakikita mo mga odd lots selling for 25 dapat bumili ka na

yun nga eh, kaso nakatutok ako kay ZHIno. sayang.
Reply
#40
PX do your thing 2mro.. its time makabawi tayo ng maliit sa big losses natin.. hehe
when GOD steps in, MIRACLE happens.....

It's more fun in FOREX!!!

Reply


Forum Jump:


Users browsing this thread: 2 Guest(s)