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Apex Mining Co. Inc. recorded a 1 percent increase in its consolidated net income in 2023 to P3.4 billion from P3.3 billion in 2022.
Consolidated revenues totaled P10.7 billion, a 12.6 percent jump from 2022’s P9.5 billion.
In a disclosure to the Philippine Stock Exchange yesterday, Apex Mining said the record revenue was driven by the high realized metal prices which averaged $1,962 per ounce for gold and $23.51 per ounce for silver.
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Luis Sarmiento, Apex Mining president and chief executive officer, said last year, Maco and Sangilo mines sold 106,495 ounces (oz) of gold which is 5 percent higher than 2022’s 101,096 oz.
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