Philex booked P2.3B worth of metal exports in June

PHILEX MINING Corp. reported on Thursday that it completed two metal shipments in June. The company booked some P2.325 billion in gross value for the exports.

In a disclosure to the Philippine Stock Exchange, Philex president Jose Ernesto C. Villaluna Jr. said Philex shipped the metals on June 6 and 8.

The first shipment contained about 10,236 ounces of gold, 2.7 million pounds of copper, and 9,631 ounces of silver from 5,026 dry metric tons (dmt) of concentrates.

Value of the shipments was placed at P1.165 billion. Gold accounted for P674 million, copper value stood at P476 million, while silver was estimated at P15 million.

The value was based on average metal prices of $1,522 per ounce of gold, $4.07 per pound of copper, and $36.47 per ounce of silver.

The second shipment contained about 10,029 ounces of gold, almost 2.75 million pounds of copper, and 9,626 ounces of silver from 5,015 dmt of concentrates.

The estimated gross value was P1.16 billion.