Apex Mining Co., Inc. Provides Earnings and Production Guidance for the Year 2016
July 30, 2016 at 08:54 pm EDT
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Apex Mining Co. Inc. provided earnings and production guidance for the year 2016. For the year, the company is aiming to more than triple its profit this year on the back of a higher targeted capacity at its Maco mine in Compostella Valley and a projected recovery in gold prices. The firm targets net income of PHP 320 million, a 351% increase from last year’s PHP 71 million. The company also looking to generate a billion more in revenues this year to PHP 3.4 billion.
For the year, the company aims to boost gold production to reach 53,000 to 55,000 ounces. This was at least 23% more than last year’s 43,048 ounces of gold which a record high for its operations.
Apex Mining Co., Inc. is a Philippines-based company, which is engaged in the business of mining, milling, concentrating, converting, smelting, treating, preparing for the market, manufacturing, buying, selling, exchanging, and otherwise producing and dealing in gold, silver, copper, lead, zinc brass, iron, steel and all kinds of ores, metals and minerals. It operates the Maco Mines in Maco, Davao De Oro. Maco Gold Mine is situated in the municipalities of Maco and Mabini. It holds interests in Monte Oro Resources & Energy, Inc. (MORE), which owns Paracale Gold Ltd., which owns Coral Resources Philippines Inc., which in turn owns a mineral processing plant in Jose Panganiban, in Camarines Norte, and Bulawan Mineral Resources Corporation. It also holds interest in Itogon-Suyoc Resources, Inc., which is a subsidiary of the Company, which consists of the Sangilo Mine in Itogon and the Suyoc Mine in Mankayan, both located in Benguet Province, and the Benit Claim in Labo, Camarines Norte.
APEX MINING CO., INC. 
