Philex Mining Corp. · PSE:PX

Philex Mining — Q1 2016 Earnings Presentation

17 slides from Philex Mining's earnings presentation, Apr 28, 2016

  1. Slide 1: 1st Quarter 2016 Operating and Financial Results

    1st QUARTER 2016 OPERATING AND FINANCIAL RESULTS 28 April 2016

  2. Slide 2: 1Q2016 Highlights

    1Q2016 Highlights  Net income 38% higher year-on-year due to effective cost management  Operating cost per tonne down to P755 in 1Q2106 from P859 average in FY2014 and P808 in FY2015  Parent Company retired US$5.0M debt in 4M2016  Initial inferred resources of 22M tonnes identified in Bumolo pro

  3. Slide 3: Metals

    Metals

  4. Slide 4: 1Q2016 Operating Statistics

    1Q2016 Operating Statistics Inc 1Q2016 1Q2015 (Dec) Tonnes Milled ('000) 2,325 2,221 5%  Ore milled higher due to Operating Days 90 88 2% more operating days Ore Grade  Gold output affected by Gold - gms/DMT 0.405 0.435 -7% natural depletion of high Copper - % 0.204 0.204 - grade ore Production Go

  5. Slide 5: 1Q2016 Financial Highlights

    1Q2016 Financial Highlights (in PHP million, 1Q2016 1Q2015 Inc/(dec) unless indicated) Gross Revenue 2,413 2,393 1%  Slight recovery in gold Marketing Charges 211 200 6% prices and higher Cost & Expenses 1,674 1,887 -11% copper output push Income from Operations 528 306 73% revenues higher Other In

  6. Slide 6: 1Q2016 Revenue Breakdown

    1Q2016 Revenue Breakdown Gold Revenue Share Copper Silver Petroleum & other P2.41B P2.39B 1% 2% 39% 38% 1% 1% 59% 59% 1Q2016 1Q2015 REVENUE PER PRODUCT (PhP million) 1Q2016 1Q2015 Inc (Dec) Gold 1,427 1,423 0% Copper 946 912 4% Silver, petroleum & others 40 58 -31% TOTAL 2,413 2,393 1% 6

  7. Slide 7: 1Q2016 Cost and Expenses

    1Q2016 Cost and Expenses (in PHP million) 1Q2016 1Q2015 Inc (Dec) Production cost Materials & Supplies 383 427 -10%  Lower production cost Power 401 431 -7% attributed to: Labor 227 212 7%  Reduced manpower Contracts 64 65 -2%  Lower power costs  Less maintenance costs Others 53 53 0% Cash Produ

  8. Slide 8: Quarterly Cost per Tonne (Php)

    Quarterly Cost per Tonne (Php) Production Cost Operating Cost 740 880 859 720 844 860 700 840 817 680 820 660 790 785 800 640 716 780 703 755 620 670 760 655 654 600 740 619 580 720 560 700 FY2014 1Q2015 2Q2015 3Q2015 4Q2015 1Q2016

  9. Slide 9: 1Q2016 Breakeven Analysis

    1Q2016 Breakeven Analysis COST STRUCTURE (excluding G&A) 1Q2016 1Q2015 Variance Cost per Tonne Cash Production Cost 485 535 -9% Depreciation 133 168 -20% Total 619 703 -12% Operating cost* 808 844 -11% Operating Cost per Metal Co-production method Gold ($/oz) 947 937 1% Copper ($/lb) 1.72 2.18 -21%

  10. Slide 10: 1Q2016 Capital Expenditures

    1Q2016 Capital Expenditures CAPITAL EXPENDITURE PERFORMANCE P1.25B Oil & gas exploration Other mine P629M exploration Silangan & Kalayaan Padcal & Head Office 1Q2016 1Q2015 CAPITAL EXPENDITURE BREAKDOWN (PhP million) FY2015 FY2014 change Padcal & Head Office 290 310 -6% Silangan & Kalayaan 309 918 -

  11. Slide 11: End-Mar 2016 Financial Position

    End-Mar 2016 Financial Position ASSETS (in PHP million) As of As of Inc (Dec) Mar 31, 2016 Dec 31, 2015 Cash & cash equivalents 879 1,009 -13%  Increase in deferred Receivables & others 4,390 4,263 3% Current assets 5,269 5,271 0% exploration costs Property, plant & equipment 6,760 6,828 -1% associ

  12. Slide 12: Energy and Hydrocarbon

    Energy and Hydrocarbon

  13. Slide 13: Financial Highlights

    Financial Highlights % Inc (in PhP millions) Q12016 Q12015 (Dec) Gross revenue P23.1 P37.6 (38.5) Cost and expenses 32.5 81.4 (60.0) Income (loss) from operations (9.4) (43.8) (78.5) Other income (charges) (5.5) 1.1 (604.2) Reported net income (loss) (P15.0) (P44.2) (66.2)  38.5% decline in petrole

  14. Slide 14: Financial Position

    Financial Position ASSETS (in PHP millions) As of Mar 31, As of Dec 31, % Inc (Dec) 2016 2015 Cash & cash equivalents P582 P526 10.6 Others 92 144 (35.9) Current assets 674 670 0.6 Deferred exploration costs & other NCA 6,429 6,558 (2.0) Total assets 7,103 7,228 (1.7) LIABILITIES AND STOCKHOLDERS’ E

  15. Slide 15: Operations Update

    Operations Update SC 72 Recto Bank (Forum 70%) - Under Force Majeure (FM) since 15 December 2014 - Forum will have 20 months upon lifting of the FM to drill the two commitment wells SC 75 NW Palawan (PXP 50%) - Under Force Majeure since 27 December 2015 - Sub-Phase 2 will have a term of 18 months up

  16. Slide 16: Operations Update

    Operations Update SC 14C1 Galoc (Forum 2.27%) - Galoc consortium re-assessing plans to drill an appraisal well this year in view of depressed oil prices - Full field development (Phase 3) will be contingent on the outcome of appraisal well - Expected to add 12 mmbo of proven reserves and increase pr

  17. Slide 17: Thank you

    Thank you End of Presentation

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