Analyst Briefing Nine Months 2014 Results 29 October 2014
Presentation Outline (3) Operating and Financial Highlights (16) Update on Silangan (20) Oil and Gas Exploration
OPERATING AND FINANCIAL HIGHLIGHTS 3
9M2014 Operating Statistics Increased tonnage due to % Inc 9M2014 9M2013 higher operating days (Dec) Tonnes Milled ('000) 7,161 5,455 31 Lower ore grades consistent Operating Days 269 207 30 Copper Concentrate (DMT) 52,515 43,133…
9M2014 Financial Highlights 8% growth in revenues due to: (PhP million, % Inc increase in operating days but unless indicated) 9M2014 9M2013 offset by the expected drop in (Dec) Gross Revenue 8,378 7,730 8 ore grades and decline in…
9M2014 Cost and Expenses (PhP million) 9M2014 9M2013 % Inc 30% increase in total costs (Dec) Production cost and expenses in line with the Materials & Supplies 1,261 880 43 increased tonnage (+31%) Power 1,301 819 59 Labor 856 567…
9M2014 Capital Expenditures CAPITAL EXPENDITURE PERFORMANCE Oil & gas exploration Other mine exploration Silangan & Kalayaan Padcal & Head Office 9M2014 9M2013 CAPITAL EXPENDITURE BREAKDOWN (PhP million) 9M2014 9M2013…
3Q2014 Financial Highlights 9% drop in revenues due to (PhP million % Inc unless indicated) 3Q2014 2Q2014 (Dec) 1Q2014 decline in metal prices Gross Revenue 2,596 2,868 (9) 2,913 11% improvement in Income from Operations 423 463…
3Q2014 Cost and Expenses (in million pesos) 3Q2014 2Q2014 % Inc 1Q2014 11% drop in operating cost (Dec) due to cost-management Production cost measures Materials & Supplies 432 412 5 417 Power 435 440 (1) 426 Power: isolation of…
Financial Position ASSETS (in million pesos) As of As of Dec % Inc September 30, 2014 31, 2013 (Dec) Increase in deferred Cash & cash equivalents 2,340 4,081 (43) Receivables & others 4,338 4,306 1 exploration costs due to…
UPDATE ON SILANGAN 16
Silangan Timetable Obtain remaining government Complete Definitive permit Feasibility Study approvals Satisfy requirements of Finalize project financing CAPEX and Reduce project risks from: OPEX Metallurgy: through bulk…
De-risking the Project Continue Ore Characterization Drive Driving tunnel towards ore body Complement results of ground drilling Raise confidence level Improve predictability of ore treatment to increase recoveries Analyze…
De-risking the Project Finalize hydrogeology studies Engaged SRK Consulting Finalize results of pump tests to better predict ground water behavior and management Define regional stream water flows & chemistry Design dewatering…
OIL AND GAS EXPLORATION 20
9M2014 Financial Highlights % Inc (PhP million, unless indicated) 9M2014 9M2013 (Dec) Gross Revenue 276 156 76 Cost and Expenses 337 359 (6) Income from Operations (61) (203) (70) Other Income (charges) (314) (29) (982) Reported…
Exploration Cost Oil and Gas Exploration Major Assets (in million pesos) Amount PXP Parent SC 75 (Area 4) 69 Pitkin Peru Block Z-38 3,156 SC 53 (Mindoro) 538 Peru Block XXVIII 79 Forum SC 72 (Reed Bank) 800 SC 40 (North…
Major Assets in the Philippines Pitkin 35% Exploration Sub-Phase 2 Forum 2.2% Production Forum 67% Philex 50% Exploration & Production Exploration Sub-Phase 1 Pitkin 70% Exploration Sub-Phase 1 Forum 70% Exploration…
Major Assets in Peru Pitkin 25% Third Exploration Period CONFIDENTIAL Pitkin 100% Second Exploration Period 24 24
Indicative Exploration and Development Timelines 2014 2015 2016 2017 2018 Peru Z-38 Pitkin 25% Peru Block XXVIII Pitkin 100% SC53 Mindoro Development Pitkin 35% Decision SC74 NW Palawan Pitkin 70% SC72 Reed Bank Forum 70%…
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