Philex Mining Corp. · PSE:PX

Philex Mining — FY2019 Earnings Presentation

14 slides from Philex Mining's earnings presentation, Mar 3, 2020

  1. Slide 1: Analysts' Briefing: 2019 Financial and Operating Results

    Analysts’ Briefing March 3, 2020 2019 Financial and Operating Results

  2. Slide 2: FY 2019 Highlights

    FY 2019 Highlights  Core Net Income of P156 million for 2019  Core net income of P116 million for the fourth quarter of 2019, 100% higher than core net income in third quarter of P58 million.  Increasing tonnage and metal prices sustained the positive momentum of both revenue and core net income

  3. Slide 3: Production Performance

    Production Performance +/- (Q4 vs Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 FY 2018 +/- Q3) Tonnes Milled (‘000) 1,832 1,973 2,134 2,174 2% 8,113 8,517 -5% Production: Gold – ozs 10,493 13,182 14,450 14,939 4% 53,064 61,977 -14% Copper – lbs (‘000) 5,727 6,280 6,852 6,878 0.4% 25,737 26,575 -3% Recove

  4. Slide 4: Financial Results Summary

    Financial Results Summary +/- (Q4 vs (in Php Million) Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 FY 2018 +/- Q3) Gross Revenues 1,613 1,752 1,943 2,091 8% 7,399 8,314 -11% Smelting Charges 137 139 165 169 2% 610 674 -9% Net Revenues 1,476 1,613 1,777 1,923 8% 6,790 7,640 -11% Costs and Expenses 1,895 1

  5. Slide 5: Capital Expenditures

    Capital Expenditures • 2019 Capex amounted to P1.745 billion • Silangan Project: Mainly for the completion of the DFS covering the Boyongan deposit. • On going search for Silangan strategic partners 5 5 6

  6. Slide 6: Balance Sheet

    Balance Sheet (in Php Million) Dec-19 Dec-18 Cash & Cash Equivalents 796 871 Receivables & Others 2,125 3,582 • Total Assets: Silangan Project Total Current Assets 2,921 4,453 accounts for 59% of total assets Property, Plant & Equipment 3,185 5,404 • Short-Term Debt: Additional loan Deferred Explora

  7. Slide 7: PXP Energy Corporation Financial Highlights and Operational Updates

    PXP Energy Corporation Financial Highlights and Operational Updates

  8. Slide 8: Financial Highlights – Profit and Loss

    Financial Highlights – Profit and Loss Dec 31, Dec 31, % Inc (in PhP millions) 2019 2018 (Dec) Gross revenue ₱ 72 ₱ 108 -33% Cost and expenses 191 221 -14% Loss from operations (118) (113) 4% Other income (charges) - net (179) 17 -1152% Reported net income (loss) ₱ (297) ₱ (96) 208% • 33% decrease i

  9. Slide 9: Financial Highlights – Financial Position

    Financial Highlights – Financial Position ASSETS (in P HP millio n s) As at Dec 3 1 , As at Dec 3 1 , % In c 2019 2018 (Dec) Cash & cash equivalents ₱ 246 ₱ 342 -28.2% Receivables and other CA 57 86 -34.5% Current assets 303 429 -29.4% Deferred exploration costs & other NCA 6,590 6,818 -3.4% To ta l

  10. Slide 10: Operations Update

    Operations Update SC 14C1 SC 6A SC 14C2 SC 6B SC Cadlao (SC 6B) 14B SC 14A TUMBES BASIN, OFFSHORE PERU INCLUDE AREA 7 SULU SEA ONLY 03 March 2020 10

  11. Slide 11: Operations Update 1/4

    Operations Update 1/4 SC 72 Recto Bank (Forum 70%)  Under Force Majeure (FM) since 15 December 2014  Sub-Phase (SP) 2 with remaining 20 months upon lifting of FM. Minimum work commitment is the drilling of 2 wells  The Sampaguita Field Re-evaluation is ongoing with VGS Consultancy as contractor.

  12. Slide 12: Operations Update 2/4

    Operations Update 2/4 SC 74 Linapacan Block (PXP 70%)  Ongoing palynology and radiolarian age dating and geochemical analysis of potential source rocks with Core Laboratories Malaysia as contractor.  Ongoing Phase 2 Quantitative Interpretation (QI) of Linapacan & West Linapacan areas. It aims to b

  13. Slide 13: Operations Update 3/4

    Operations Update 3/4 SC 6A Octon Block (PXP 5.56% / Forum 5.56%)  On 18 November 2019, the DOE approved the work program for 2020 which consists of the following:  G&G studies in support of establishing a final well location and well design to test the hydrocarbon potential of the Malajon-Salvaci

  14. Slide 14: Operations Update 4/4

    Operations Update 4/4 SC 14A Nido (Forum 8.468%) P&A of Nido Wells  Seven (7) production wells were successfully plugged and abandoned (P&A) from April to May 2019: Nido - 3 out of 5 wells, Matinloc - 3 out of 3 wells, North Matinloc - 1 out of 1 well  Two (2) remaining Nido wells, A1 and A2, were

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