Philex ships P764M worth of minerals

Listed Philex Mining Corp. reported that it shipped P764-million worth of minerals on Monday. In a statement to the Philippine Stock Exchange, Philex said it shipped 5,089 dry metric tonnes of copper concentrates containing about 2.9 million pounds of copper and 9,407 ounces of gold with a provisional gross value of P764 million. Earlier this month Philex reported that its net income for the January to July 2007 period more than doubled to P3.1 billion on higher metal prices and more metal sold. Philex operates the Sto. Tomas II copper-gold-silver deposit at Tuba, Benguet. It also owns 81 percent of Philex Gold Inc., a Canadian firm listed in the TSX Venture Exchange. - GMANews.TV