Philex Mining Corporation precious metals output was valued at PHP 1.296 billion in January.

Philex said that it produced 10,408 ounces of gold, 3.06 million pounds of copper and 9,687 ounces of silver. The estimated value of month's production based on provisional metal prices of USD 1,741 per ounce gold, USD 3.85 per pound copper and USD 33.60 per ounce silver at the exchange rate of PHP 42.87 to USD 1 amounts to PHP 1.296 billion. Of this, PHP 777 million is from gold, PHP 505 million from copper and PHP 14 million from silver.

In the first 9 months of 2011, Philex more than doubled its net income to PHP 4.35 billion on record high revenues of PHP 11.83 billion.

(Sourced from www.gmanetwork.com)