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Philex Mining Corporation Production and Shipment Reports for February 2012...

Philex Mining Corporation Production and Shipment Reports for February 2012

The Philex Mining Corporation gold production in February 2012 amounted to 9,247 ounces. The Company also produced as other products 2,918,035 pounds of copper and 9,131 ounces of silver. During the month, the Padcal mine delivered 748,174 DMT of ore resulting in 5,223 DMT of concentrates containing 55.07 grams per DMT of gold, 25.34% copper, and 54.38 grams per DMT of silver. The estimated value of the month's production, based on provisional metal prices of $1,779 per ounce gold, $3.89 per pound copper, and $37.23 per ounce silver, at the exchange rate of PhP42.75 to $1.00, amounts to PhP 1.204 billion. Of this, PhP 703 million is from gold, PhP 486 million from copper, and PhP 15 million form silver.
The Philex Mining Corporation effected two (2) shipments in the same month, Shipment Nos. LDM-19 and LDM-20 for Louis Dreyfus Commodities Metals Suisse SA, containing a total of about 17,994 ounces of gold, 5,570,973 pounds of copper, and 17,640 ounces of silver, from 10,003 DMT of concentrates, having an estimated gross value of PhP 2.272 billion, consisting of PhP 1.343 billion from gold, PhP 9.3 million from copper, and PhP 26 million from silver, based on the average provisional metal prices of $1,748 per ounce gold, $3.80 per ounce silver.
 

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"Philex Mining Corporation Production and Shipment Reports for February 2012" was written by Mary under the Business category. It has been read 1581 times and generated 0 comments. The article was created on and updated on 05 March 2012.
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