Apex Mining Co., Inc. said its attributable earnings in the first half of the year grew by 14% year on year due to higher production and milling tonnage.
In a regulatory filing to the Stock Exchange on Monday, Aug. 6, the company said its net income attributable to the parent company settled at P235 million in the first six months of year but did not disclose its second quarter breakdown.
Apex Mining’s revenues likewise grew 21% year on year to P2.4 billion in the first half due to higher gold prices and a favorable exchange rate. This staved off the slight drop of price of silver.
In its report, the company said it managed to produce 32,334 ounces of gold in the first half of 2018, while its silver production yielded 159,251 ounces. — Anna Gabriela A. Mogato