MANILA - The Securities and Exchange Commission (SEC) has considered favorably the stock rights offer by Philex Mining Corporation for a maximum of PHP3.15 billion. In its meeting on January 27, the commission en banc resolved to render effective the registration statement filed by Philex Mining for a stock rights offer covering up to 842 million common shares, subject to certain remaining requirements. The actual number of common shares to be issued will depend on the final offer price. Philex Mining will offer the shares to eligible shareholders for a maximum offer price of PHP4.81 per share. Net proceeds from the offer could amount to PHP3.059 billion. Proceeds will be used for the company's investment in subsidiary Silangan Mindanao Mining Company, Inc. through Silangan Mindanao Exploration Co., Inc. for the capital expenditures and development cost of its Silangan Project, which includes mine development, construction of the mill plant and support facilities, and storage taili
Philex Mining Corporation, one of the largest producers of copper and gold in the Philippines, reported that the Boyongan deposit of Silangan copper-gold mine project in Surigao del Norte may yield $7 billion in gold and copper over 28 years. In a disclosure to the Philippine Stock Exchange, the fi
To alleviate the severe damage caused by Typhoon Odette, the Manuel V. Pangilinan (MVP) Group of Companies, sent immediate financial and material assistance to the victims in Visayas and Mindanao – after having raised more than P50M total for relief and rehabilitation support.
Philex Mining Corp., the country's largest gold producer, has decided to finally proceed with the development of the Silangan Mine project in Surigao del Norte within the first half of 2022, but at a slower pace and smaller scale sans the strategic investments that the listed firm has long been seek
Philex Mining Corporation, the country’s top gold producer, reported a 116 percent jump in core net income to P1.87 billion in the first nine months of 2021 despite the challenges posed by the Covid-19 pandemic. In a disclosure to the Philippine Stock Exchange, the firm attributed the surge in earn