Marcventures sales surge

Marcventures Holdings Inc. disclosed Monday that it aims to post by end-September more than thrice the mining revenue it recorded in the same period last year.

In a disclosure to the Philippine Stock Exchange, Marcventures Assistant Corporate Secretary Ana Maria A. Katigbak said the company’s wholly owned subsidiary, Marcventures Mining & Development Corp. (MMDC), expects to book P2 billion in year-to-date revenue by the end of the third quarter.

“Versus the same 9-month period last year, this represents 233 percent growth,” Marcventures said. That is, if good weather enables the company to proceed with shipments as planned.

So far, MMDC has shipped out 30 vessels with a volume of 1.67 million wet metric tons (WMT).

Estimated revenue generated from these shipments is P1.5 billion at the present exchange rate, Marcventures said.