Philex Mining Corp. · PSE:PX
Philex Mining — FY2018 Earnings Presentation
15 slides from Philex Mining's earnings presentation, Mar 25, 2019
Slide 1: Full Year 2018 Financial and Operating Results
Full Year 2018 Financial and Operating Results 25 March 2019
Slide 2: Silangan Project Updates
Silangan Project Updates Silangan mega project set to launch by 2022 Strong indications of superior ore grades and higher mineral resource estimates Definitive feasibility studies of the first of four planned phases to conclude in May 2019; First phase to cover 21 years Project tenements con
Slide 3: Full Year 2018 Results Highlights
Full Year 2018 Results Highlights • Core Net Income at P600 Million • Net Income at P608 Million • Consolidated EBITDA at P2.493 Billion • US$8 million Net Loan Repayments 3
Slide 4: Operating Statistics
Operating Statistics 2018 2017 +/- Tonnes Milled (‘000) 8,517 8,673 -2% Production: Tonnes Milled: Lesser operating days, mechanical issues and limited Gold – oz 61,977 84,638 -27% ore sources Copper – lbs (‘000) 26,575 30,118 -12% Production: Depleting ore grades Recovery: and lower metal recov
Slide 5: Financial Summary
Financial Summary (in Php mn) 2018 2017 +/- Gross Revenues 8,314 9,985 -17% Revenues: Lighter tonnage and Smelting Charges 674 842 -20% declining head grade Net Revenues 7,640 9,142 -16% Cost and Expenses: Controlled expenses due to company-wide cost Costs and Expenses 6,821 6,778 - management i
Slide 6: Capital Expenditure
Capital Expenditure CAPEX Distribution (in Php mn) 2,425 1,992 194 154 561 435 1,670 1,403 2018 2017 Padcal Silangan/Kalayaan Other Mine Exploration 66
Slide 7: Balance Sheet
Balance Sheet (in Php mn) 2018 2017 Cash & Cash Equivalents 871 584 Receivables & Others 3,582 5,683 Total Current Assets 4,453 6,267 Investment in Associate: Additional equity investment in PXP Energy Property, Plant & Equipment 5,404 6,721 Short-Term Debt: Net repayment of Deferred Exploration
Slide 8: PXP Energy and Other Assets
PXP Energy and Other Assets • Potential resumption of exploration activities in SC 72 • Increased equity ownership in PXP Energy from 19.8% to 30.4% • Paid P770 million or 25% of the total subscribed portion in December 2018 • Settled additional P1.387 billion equivalent to 45% of the total subscrib
Slide 9: PXP Energy Corporation Financial Highlights and Operational Updates
PXP Energy Corporation Financial Highlights and Operational Updates
Slide 10: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss % Inc (in PhP millions) FY2018 FY2017 (Dec) Gross revenue ₱ 108 ₱ 104 3% Cost and expenses 221 158 40% Loss from operations (113) (54) 111% Other income (charges) 17 (3) -607% Reported net loss ₱ (96) ₱ (57) 69% • 3% increase in gross revenue due to: Higher c
Slide 11: Financial Highlights – Financial Position
Financial Highlights – Financial Position ASSETS (in P HP millio n s) As o f Dec 3 1 , As o f Dec 3 1 , % In c 2018 2017 (Dec) Cash & cash equivalents ₱ 342 ₱ 450 -23.9% Receivables and other CA 86 76 14.2% Current assets 429 526 -18.4% Deferred exploration costs & other NCA 6,818 6,703 1.7% To ta l
Slide 12: Operations Update
Operations Update SC 14C1 SC 6A SC 14C2 SC 6B SC 14B Cadlao SC 14A TUMBES BASIN, OFFSHORE PERU 25 March 2019 CONFIDENTIAL 4
Slide 13: Operations Update 1/3
Operations Update 1/3 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 (2) commitment wells. Contracted DownUnder Geosolutions (DUG) to conduct broadband PSDM reprocessing of 565 sq. km 3D seismic da
Slide 14: Operations Update 2/3
Operations Update 2/3 SC 74 Linapacan Block (PXP 70%) The gravity modeling and seismic interpretation of MC2D data are underway. Ongoing paleodating of rock samples collected during the fieldwork in the Calamian Islands last June 2018 by the UP National Institute of Geological Sciences. The SC
Slide 15: Operations Update 3/3
Operations Update 3/3 SC 6A Octon Block (PXP 5.56% / Forum 5.56%) The approved work program for 2019 includes the conduct of seismic attribute analysis of the North Block of SC 6A to map the target reservoirs and determine their distribution in terms of porosity, thickness, and lithology. Upon c