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Last $0.13 USD
Change Today 0.00 / 0.00%
Volume 0.0
PXMFF On Other Exchanges
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Philippines
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As of 8:10 PM 05/8/15 All times are local (Market data is delayed by at least 15 minutes).

philex mining corp (PXMFF) Key Developments

Philex Mining Corp. Announces Unaudited Consolidated Production and Earnings Results for the First Quarter Ended March 31, 2015

Philex Mining Corp. announced unaudited consolidated production and earnings results for the first quarter ended March 31, 2015. For the first quarter, total tonnes milled from the company's Padcal mine was 7% lower at 2,221,369 tonnes from 2,396,077 tonnes in 2014. Despite the 7% reduction in tonnes milled, gold production was only 2% lower at 25,997 ounces covering three full months of operation in 2015 from 26,442 ounces for the same period in 2014 due to the 7% improvement in recovery rate. While gold head grade at 0.435 grams per tonne in the first quarter of 2015 was 1% lower than last year's 0.439 grams per tonne, this decline was not as significant as originally expected. Likewise, copper production was lower at 8,361,419 pounds in 2015 compared with 9,468,009 pounds in 2014. The decrease in tonnage, coupled with the 9% lower head grade of 0.204% from 0.223% in 2014, resulted in the significant drop in copper production in 2015 against 2014, despite the 4% improvement in recovery rate. For the quarter, the company reported net cash from operating activities of PHP 460,389,000 compared to PHP 1,259,046,000 a year ago. Additions to property, plant and equipment was PHP 317,620,000 compared to PHP 568,611,000 a year ago. For the first quarter of 2015, capital expenditures and explorations costs amounted to PHP 1.253 billion from PHP 1.530 billion in 2014. The company's core net income decreased 23% to PHP 214.5 million in 2015 compared with PHP 278.4 million in 2014 as a result largely of comparatively lower realized metal prices. Meanwhile, EBITDA amounted to PHP 718.1 million in the first quarter 2015 compared with PHP 907.8 million in 2014. The company's core net income and EBITDA excludes non-recurring transactions to clearly reflect and provide results based on the normal operating parameters of the business.

Philex Mining Corp. to Report Q1, 2015 Results on Apr 29, 2015

Philex Mining Corp. announced that they will report Q1, 2015 results on Apr 29, 2015

Philex Mining Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Philex Mining Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was PHP 2,193,102,000 against PHP 2,699,530,000 a year ago. Income before income tax was PHP 415,901,000 against PHP 376,465,000 a year ago. Net income attributable to equity holders of the parent company was PHP 328,542,000 or PHP 0.0665 per basic and diluted share against PHP 252,528,000 or PHP 0.0512 per basic and diluted share a year ago.

Philex Mining Corp., Philex Petroleum Corporation, Q1 2015 Earnings Call, Apr 29, 2015

Philex Mining Corp., Philex Petroleum Corporation, Q1 2015 Earnings Call, Apr 29, 2015

PHILEX Mining Corp. Secures Approval for Silangan Copper Mine

PHILEX Mining Corp. has secured government approval to start the development of its $1.2 billion Silangan copper-gold mine on the island of Mindanao, giving the miner a new revenue source with the life of its Padcal mine expected to end in the next five years. Philex told the stock exchange the Department of Environment and Natural Resources, through the Mines and Geosciences Bureau, approved on April 10 the Declaration of Mining Project Feasibility of the Silangan project. Likewise, the government authorized Silangan Mindanao Mining Co. Inc., a subsidiary of Philex, to proceed to the Development and Operating Periods of Mineral Production Sharing Agreement No. 149-99-XII, subject to compliance with the conditions of the order. The approval is important for Philex with the mine life of Padcal, currently the company's big revenue generator, seen ending by 2020.

 

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