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ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining

Philex Mining · Apr 29, 2015 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 1
    Analyst Briefing First Quarter 2015 Results 29 April 2015
  2. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 2
    Presentation Outline (3) Significant Developments (4) Operating and Financial Highlights (14) Update on Silangan (20) Oil and Gas Exploration
  3. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 3
    Significant Developments Implementation of 2nd wave of manpower rightsizing program (February 2015) following Phase 1 in December 2014 Sale of shares in Indophil Resources (February 2015) Declaration of 111M tonnes of additional…
  4. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 4
    OPERATING AND FINANCIAL HIGHLIGHTS 4
  5. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 5
    Operating Statistics 1Q2015 1Q2014 Inc (Dec) Tonnage affected by lower Tonnes Milled ('000) 2,221 2,396 -7% Operating Days 88 90 -2% operating days and care and maintenance Ore Grade Gold - gms/DMT 0.435 0.439 -1% Copper - % 0.204…
  6. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 6
    Financial Highlights (in PHP million, 1Q2015 1Q2014 Inc/(dec) unless indicated) Gross Revenue 2,393 2,913 -18% Marketing Charges 200 214 -7% Revenue down due to lower Cost & Expenses 1,887 2,274 -17% output and depressed metal Income…
  7. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 7
    Revenue Breakdown Gold Revenue Share per Product Copper (PhP million) Silver Petroleum & other 2,913 4% 2% 2,393 1% 40% 1% 38% 59% 55% 1Q2015 1Q2014 PRODUCT BREAKDOWN (PhP million) 1Q2015 1Q2014 Inc (Dec) Gold 1,423…
  8. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 8
    Cost and Expenses Inc (in PHP million) 1Q2015 1Q2014 (Dec) Production cost Materials & Supplies 427 417 2% Decline in production cost Power 431 426 1% Labor 212 312 -32% due to: More efficient use of ball Contracts 65 146 -55%…
  9. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 9
    Breakdown of Other Charges - Net (in PHP million) 1Q2015 1Q2014 Inc/(dec) Gain on sale of AFS financial assets 107 - - Foreign exchange gain (losses) 13 (34) - Interest Expense (Net) (15) (66) (77%) Provisions - 32 - Others 5 17…
  10. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 10
    Capital Expenditures CAPITAL EXPENDITURE PERFORMANCE Oil & gas exploration Other mine exploration Silangan & Kalayaan Padcal & Head Office 1Q2015 1Q2014 CAPITAL EXPENDITURE BREAKDOWN (PhP million) 1Q2015 1Q2014 Padcal &…
  11. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 11
    Financial Position ASSETS (in PHP million) As of Mar As of Dec Inc 31, 2015 31, 2014 (Dec) Cash & cash equivalents 4,105 5,232 -22% Receivables & others 4,145 4,299 Current assets 8,250 9,530 -4% -13% Sustained investments in…
  12. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 12
    Cash Flows (In PHP millions) 1Q2015 1Q2014 Inc/(dec) CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 416 376 10% Adjustments for: Depletion and depreciation 393 428 -8% Gain on sale of asset (107) - Others 26 76 -65%…
  13. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 13
    Breakeven Analysis COST STRUCTURE (excluding G&A) 1Q2015 1Q2014 Variance Cost per Tonne Cash Production Cost 535 581 -8% Depreciation 168 176 -5% Total 703 758 -7% Operating cost 844 904 -7% Operating Cost per Metal…
  14. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 14
    UPDATE ON SILANGAN 14
  15. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 15
    Silangan Timetable * Presented Pre-Feasibility Study Obtain remaining Early works/mine to the Board (August 2014) government development/ permit approvals project execution Complete Definitive Feasibility Study Q3 2014 2015/…
  16. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 16
    Next Steps: Finish Bulk Sampling Bulk sampling work completed First 70 tons arrived at the Lab in Perth WA Mar 30, 2015 Pilot test work commencing Second batch of samples (30 Tons) expected to reach Perth on June 2015 Currently…
  17. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 17
    Next Steps: Complete DFS Geology Final Mineral Resource Model to be completed by July 15 Mining Pit optimization and equipment selection ongoing Process Flow sheet selected and throughput optimization ongoing Acid Cyanide Crush…
  18. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 18
    Next Steps: Complete DFS Balance of Plant TSF: Embankment construction planning commenced Logistics: port options study in progress (construction of own port likely) Infrastructure: location options planning ongoing Power: options…
  19. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 19
    Next Steps: Commence Early Works (by June 2015 to meet Q1 2018 first ore) Discipline Key Activities Detailed design and engineering for civil, mechanical, and electrical Engineering infrastructure/equipment Procurement Long lead…
  20. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 20
    OIL AND GAS EXPLORATION 20
  21. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 21
    Financial Performance % Inc (in PhP million) 1Q2015 1Q2014 (Dec) Gross revenue 38 102 (63%) Cost and expenses 81 97 (16%) Income (loss) from operations (44) 5 - Other income (charges) (1) 21 - Reported net income (loss) (44) 26…
  22. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 22
    Financial Position ASSETS (in PHP million) As of Dec As of Dec % Inc 31, 2014 31, 2013 (Dec) Cash & cash equivalents 1,852 1,908 -3% Others 125 153 -18% Current assets 1,978 2,061 -4% Deferred exploration costs & other 6,449…
  23. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 23
    Strong Management, Corporate Governance, CSR & IR Platforms Most Promising Company of the Year (Corporate Governance Asia) November 2014 Hong Kong Best Investor Relations Company (Corporate Governance Asia) April 2015 Hong Kong…
  24. ANALYST BRIEFING Q1 2015 RESULTS – Philex Mining – slide 24
    End of Presentation Thank you

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