Philex Mining Releases Gold, Silver and Copper Production Report for January

Pasig–(PHStocks)–Philex Mining Corporation (PSE: PX) has announced that its gold production in January totaled 10,408 ounces. It also produced 3,062,730 pounds of copper and 9,687 ounces of silver.

For January, the Padcal mine delivered 811,685 DMT of ore resulting in 5,530 DMT of concentrates containing 56.88g per DMT of gold, 25.12% copper, and 54.37g per DMT of silver.

The estimated value of the month’s production, based on provisional metal prices of $1,741 per ounce gold, $3.85 per pound copper, and $33.60 per ounce silver, at the exchange rate of PhP42.87 to $1, amounts to PhP1.296 billion. Of this, PhP777 million is from gold, PhP505 million is from copper, and PhP14 million from silver.