Philex Mining Corp. on Monday said it produced 12, 302 ounces of gold, 3,867, 053 pounds of copper, and 11,251 ounces of silver at its Padcal mine last month.
 
“The estimated value of… [last] month’s production, based on provisional metals prices of $1,622 per ounce of gold, $3.44 per pound copper, and $28 pr ounce silver at the exchange rate of P41.72 to $1 amounts to P1.401 billion,” the company said in a disclosure to the Philippine Stock Exchange.
 
“Of this, P833 million is from gold, P555 million from copper, and P13 million from silver,” Philex Mining added.
 
Philex extracted 858,180 dry metric tons (DMT) of ore from the Padcal mine, “resulting in 7,141 DMT of concentrates containing 53.58 grams per DMT of gold, 24.56 percent copper, and 49 grams per DMT of silver,” the disclosure read.
 
The miner ship 8,908 ounces of gold, 2,715,799 pounds of copper, and 8,620 ounces of silver to its Japanese buyer Pan Pacific Copper Co. Ltd.
 
The estimated gross value of its Pan Pacific Copper shipment was P1 billion pesos, consisting of P595 million from gold, P359 million from copper, and P10 million from silver.
 
The value of its July shipment was based on average provisional metals prices of $1,604 per ounce gold, $3.49 per pound copper and $28 per ounce silver.  — VS, GMA News