Analyst Briefing Full Year 2014 Results 26 February 2015
Presentation Outline (3) 2014 Significant Developments (4) Operating and Financial Highlights (13) Update on Silangan (17) Oil and Gas Exploration (22) Philex Public Recognition Received
2014 Significant Developments Padcal Mine In May 2014, agreed to a settlement of P200 million for local business tax claims with the municipalities of Tuba and Itogon, which host the Padcal site In June 2014, following the payment of…
OPERATING AND FINANCIAL HIGHLIGHTS 4
Operating Statistics FY2014 FY2013 Inc (Dec) Tonnes Milled ('000) 9,506 7,738 23% Increased tonnage due to Operating Days 359 299 20% Copper Concentrate (DMT) 70,062 60,582 16% higher operating days Ore Grade Lower ore grades…
Cost and Expenses (in PHP million) FY2014 FY2013 Inc (Dec) Production cost Materials & Supplies 1,847 1,607 15% Power 1,710 1,314 30% Change in mineralogy Labor 1,098 877 25% made it more expensive to Contracts 277 236 18% process…
Breakdown of Other Charges - Net (in PHP million) FY2014 FY2013 Inc/(dec) Gain on sale of assets, net of 765 - - expenses Interest income 17 26 (38%) Foreign exchange losses (56) (174) (68%) Insurance proceeds - 1,017 - Interest…
Capital Expenditures CAPITAL EXPENDITURE PERFORMANCE Oil & gas exploration Other mine exploration Silangan & Kalayaan Padcal & Head Office FY2014 FY2013 CAPITAL EXPENDITURE BREAKDOWN (PhP million) FY2014 FY2013 Padcal &…
Financial Position ASSETS (in PHP million) As of Dec 31, As of Dec Inc 2014 31, 2013 (Dec) Cash & cash equivalents 5,232 4,081 28% Receivables & others 4,299 4,307 0% Increase in deferred Current assets 9,530 8,387 14% exploration…
Cash Flows (In PHP millions) FY2014 FY2013 Inc/(dec) CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 1,054 1,075 -2% Adjustments for: Depletion and depreciation 1,691 1,448 17% Gain on sale of asset (765) - Impairment…
UPDATE ON SILANGAN 13
Silangan Timetable * Presented Pre-Feasibility Study Early works/mine to the Board (August 2014) Obtain remaining development/ government project execution Complete Definitive permit approvals Feasibility Study Q3 2014 2015/…
De-risking the Project Ore characterization drive has reached the ore body Source of bulk sample for pilot testing to improve predictability of ore treatment and metal recoveries Complement results of ground drilling Visual…
De-risking the Project Finalization of 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…
OIL AND GAS EXPLORATION 17
Financial Highlights % Inc (in PhP million) FY2014 FY2013 (Dec) Gross revenue 308 209 48% Cost and expenses 436 444 (2%) Income (loss) from operations (128) (236) (46%) Other income (charges) (322) 135 - Reported net income…
Exploration Cost and Updates Oil and Gas Exploration Major Assets (in PHP million) 2014 2013 PXP Parent SC 75 (Area 4) 67 3 Exploration activities in 2015 will be focused on SC-72 Pitkin (subject to DOE clearance) and Peru Block…
Financial Position ASSETS (in PHP million) As of Dec As of Dec % Inc 31, 2014 31, 2013 (Dec) Cash & cash equivalents 1,908 2,621 -27% Others 153 162 -6% Current assets 2,061 2,783 -26% Deferred exploration costs & other 6,436…
PHILEX PUBLIC RECOGNITION RECEIVED 21
Strong Management, Corporate Governance, CSR & IR Platforms Most Promising Company of the Year (Corporate Governance Asia) November 2014 Hong Kong Corporate Governance Company of the Year Finalist: CSR Company of the Year (Asia…
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