During the month,
Philex effected Shipment No. 687 for Pan Pacific Copper Co., Ltd., containing about 9,182 ounces of gold, 2,885,763 pounds of copper, and 9,011 ounces of silver, from 4,934 DMT of concentrates, having an estimated gross value of P1.146 billion, consisting of P656 million from gold, P477 million from copper, and P12 million from silver, based on the average provisional metal prices of $1,649 per ounce gold, $3.82 per pound copper, and $30.55 per ounce silver.
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Philex Mining Corporation Production and Shipment Reports for May 2012
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Philex Mining Corporation gold production in May 2012 amounted to 10,083 ounces.
Philex also produced as other products 3,151,548 pounds of copper and 9,294 ounces of silver. During the month, the Padcal mine delivered 798,022 DMT of ore, resulting in 5,487 DMT of concentrates containing 57.15 grams per DMT of gold, 26.05% copper, and 52.68 grams per DMT of silver. The estimated value of the month's production, based on provisional metal prices of $1,563 per ounce gold, $3.41 per pound copper, and $28.10 per ounce silver, at the exchange rate of P43.50 to $1.00, amounts to P1.164 billion. Of this, P685 million is from gold, P467 million from copper, and P11 million from silver.
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