Philex Mining Corporation: SWOT Analysis & Company Profile

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					Philex Mining Corporation

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Philex Mining Corporation: SWOT Analysis
& Company Profile


Reference code: BRMN0172CP10-Q2

Published: Oct 2010




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Philex Mining Corporation - SWOT Profile                                            Page 1
Philex Mining Corporation

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Philex Mining Corporation - Company Overview

Philex Mining Corporation (Philex) is engaged in the exploration and development of mineral resources. It is involved in
production of copper, gold and silver. The company’s assets include Padcal mine in Benguet; Bulawan in Negros
Occidental gold mine; and its Surigao property is at pre-feasibility study stage. The company’s subsidiaries include
Silangan Mindanao Exploration Co., Inc. and Brixton Energy & Mining Corporation. The company’s subsidiaries own coal
mining properties in Zamboanga del Norte. The company is headquartered in Pasig City, Philippines.


Financial Performance

The company reported revenues of PHP 8,377.98 million during the fiscal year ended December 2009. The company's
revenue grew at a CAGR of 16.56% during the period 2005-2009 with a year on year decline of -7.41% over fiscal year
2008. During the fiscal year 2009, its operating margin was 28.23% as against the operating margin of 40.75% during the
fiscal year 2008. Moreover, during the fiscal year 2009, the company’s net profit margin was 33.78% as against the net
profit margin of 31.97% during the fiscal year 2008.




Philex Mining Corporation - Key Facts

Philex Mining Corporation, Key Facts

                                  Philex Building, Pasig City, ,
                                                                    Ticker Symbol, Stock
Corporate Address:                1600, Philippines
                                                                                               PX (Philippines Stock Exchange)
                                                                    Exchange



Telephone                         + 631 6311381                     No. of Employees           2,245



Fax                               + 632 6313242                     Financial Year End         December



URL                               www.philexmining.com.ph           Revenue (in PHP Million)   8,377.98



Industry                          Metals and Mining                                            N/A



Locations                         Philippines

Source: Annual Report, Company Website, Primary and Secondary Research




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Philex Mining Corporation - SWOT Profile                                                                              Page 2
Philex Mining Corporation

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Philex Mining Corporation - Business Description

Philex Mining Corporation (Philex) is engaged in the exploration, development and utilization of mineral resources. It is
involved in production of copper, gold and silver. The company organizes its business units into two reportable segments
namely: the Mining segment and the Oil and Gas segment.

The Mining segment includes mining activities of gold, copper and silver. The company’s assets include Padcal mine in
Benguet, Bulawan gold mine and other exploration projects.

The Padcal mine is the first underground block cave operation in Far East located in Benguet, Philippines. This is the
company’s only operating mine. The mine is 52 years old producing gold, copper and silver. The tonnage mined in the
fiscal year 2009 totaled 8.2 million tonnes. Approximately 19,000 ounces gold and 34 million pounds of copper was
produced. The total ore extracted, processed and mined from its start to fiscal 2009 accounted to an aggregate of 340.4
million tonnes producing 912.8 million kilograms of copper, 165.9 million grams of gold and 181.5 million grams of silver.

The Bulawan mine is located in Negros Occidental Island, Philippines which commenced production in January 1996.
However, the operations at this mine ceased in April 2002 since the mine was decommissioned due to unfavorable metal
prices and is placed under care and maintenance till date.

The exploration and development projects include Silangan Project which is a joint venture agreement with Anglo
American Exploration (Philippines) BV (Anglo) a subsidiary of Anglo American plc. The company owns 40% interest in
Silangan Project, previously referred as Surigao del Norte. The project is under pre-feasibility stage. The company would
be entitled to hold 30% additional interest once it is through completion of a bankable feasibility study which is done on
Anglo’s cost.

In fiscal year 2009, the Mining segment contributed PHP 8,255 million or 98.5% to the total revenues of which gold
accounts for approximately 50% followed by copper with 40% and silver for about 10%.

The Oil and Gas segment include petroleum and coal production. Affiliates and subsidiaries include Forum Energy plc,
Philex Petroleum Corporation and Brixton Energy & Mining Corporation. The company through its affiliates and
subsidiaries owns a coal mining properties in Zamboanga Del Norte. Oil and gas properties are managed by Philex
Petroleum Corporation and Forum Energy Plc. The segment contributed 1.5% to the total revenues in the fiscal year
2009.




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Philex Mining Corporation - SWOT Profile                                                                         Page 3
Philex Mining Corporation

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Philex Mining Corporation - Major Products and Services

Philex Mining Corporation is a mining company based in Philippines engaged in the exploration, development and
utilization of mineral resources. Its products include:

Philex Mining Corporation, Major Products and Services
Products:

Gold

Silver

Copper
Source: Annual Report, Company Website, Primary and Secondary Research




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Philex Mining Corporation - SWOT Profile                                                                         Page 4
Philex Mining Corporation

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Philex Mining Corporation - History

Philex Mining Corporation, History

    Year                Event type                                                  Description


   2009      Acquisitions/Mergers/Takeovers The company acquired 50% interest in Anglo American Exploration (Philippines), Inc.


                                                The company acquired 245 million shares of Philex Petroleum Corporation from
   2009      Acquisitions/Mergers/Takeovers
                                                Anatolian Property B.V., representing 49% of its outstanding capital.


                                                First Pacific Company Limited, through Two Rivers Pacific Holdings Corporation, its
   2009      Contracts/Agreements               Philippine affiliate entered into a share purchase agreement to acquire an
                                                approximately 9.2% interest in the company.


                                                The company through its subsidiary, acquired a 19.85% stake in oil exploration firm
   2008      Acquisitions/Mergers/Takeovers
                                                PetroEnergy Resources Corp.


                                                The company listed an additional 88,733,707 shares with a par value of PHP1.00 per
   2008      Stock Listings/IPO
                                                share.


  
				
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