Philex Mining Corp. · PSE:PX
Philex Mining — Q1 2020 Earnings Presentation
12 slides from Philex Mining's earnings presentation, May 28, 2020
Slide 1: Analysts' Briefing: 1Q2020 Financial and Operating Results
Analysts’ Briefing May 28, 2020 1Q2020 Financial and Operating Results
Slide 2: 1Q2020 Highlights
1Q2020 Highlights Philex swings to Php103 million Core Net Income in 1Q2020 from Core Net Loss of Php112 in 1Q2019, driven by the positive momentum in the business operations beginning 3Q2019. Better ore grades for both gold and copper, resulting in higher metal output Favorable gold prices cont
Slide 3: Production Performance
Production Performance 1Q2020 1Q2019 +/- Tonnes Milled (‘000) 1,969 1,832 7% Tonnes Milled: Higher Production: tonnage due to continuous Gold – ozs 14,159 10,493 35% improvement in operational efficiencies Copper – lbs (‘000) 6,738 5,727 18% Recovery: Production: Higher metal Gold 78% 74% 5% out
Slide 4: Financial Results Summary
Financial Results Summary (in Php million) 1Q2020 1Q2019 +/- Gross Revenues 1,860 1,613 15% Smelting Charges 147 137 7% • Operating Income: Continuous improvement in Net Revenues 1,713 1,476 16% metal production and Costs and Expenses 1,552 1,566 -1% favorable gold prices. Operating Income (Loss) 16
Slide 5: Capital Expenditures
Capital Expenditures • 1Q2020 Capex of Php307 million mainly to cover sustaining capex for Padcal’s mine development • Silangan Project: For pre- development works • On going search for Silangan strategic partners 5
Slide 6: Balance Sheet
Balance Sheet (in Php million) 31-Mar-20 31-Dec-19 Cash & Cash Equivalents 545 796 Receivables & Others 2,419 2,125 Total Current Assets 2,964 2,921 • Total Assets: Silangan Property, Plant & Equipment 3,200 3,185 Project accounts for 65% of Deferred Exploration Costs 26,779 26,616 total assets Othe
Slide 7: PXP Energy Corporation Financial Highlights and Operational Updates
PXP Energy Corporation Financial Highlights and Operational Updates
Slide 8: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss Mar 31, Mar 31, % Inc (in PhP millions) 2020 2019 2029 (Dec) Gross revenue ₱ 6 ₱ 30 -79% Cost and expenses 27 47 -43% Loss from operations (21) (17) 20% Other income (charges) - net (20) 24 -182% Reported net income (loss) ₱ (40) ₱ 7 -677% • 79% decrease in gro
Slide 9: Financial Highlights – Financial Position
Financial Highlights – Financial Position ASSETS (in PHP millions) As at Mar 31, As at Dec 31, % Inc 2020 2019 (Dec) Cash & cash equivalents ₱ 188 ₱ 246 -23.6% Receivables and other CA 52 57 -8.4% Current assets 240 303 -20.7% Deferred exploration costs & other NCA 6,545 6,563 -0.3% Total assets ₱ 6
Slide 10: Operations Update
Operations Update SC 14C1 SC 6A SC 14C2 SC 6B SC 14B Cadlao (SC 6B) SC 14A TUMBES BASIN, OFFSHORE PERU 28 May 2020 10
Slide 11: Operations Update 1/2
Operations Update 1/2 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.
Slide 12: Operations Update 2/2
Operations Update 2/2 SC 40 North Cebu (Forum 66.67%) Land gravity survey in Bogo City and Daanbantayan Municipality was conducted from 18 February to 14 March 2020 with 84 stations acquired. The levelling of the same stations carried out by a third- party contractor was completed on 19 March 2020