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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book -- Ignore unavailable to you. Want to Upgrade?

To: Robert Salasidis who wrote (15)8/2/1999 5:35:00 PM
From: Braincramp  Respond to of 86
 
E-mailed Philex the other day.

Looks like they are producing just under 4000 tons of ore per day at an average grade of 2.3 grams, making the operations positive on an operating cash flow basis at this point in time. Also they are developing the next block for production, which is expected to be ready to commence mining late this year. Philex is expecting a grade of over 3 grams per ton from the new area, causing the cash flow situation to improve. Over all things look positive at this time even with the low gold price.



To: Robert Salasidis who wrote (15)10/8/1999 9:40:00 PM
From: Braincramp  Read Replies (1) | Respond to of 86
 
Looks like Philex is one of the few producers that is going to be able to take advantage of the higher gold price. I don't know if it was planned or dumb luck. However come next year when they have moved into the next block and average three grams per ton with a gold price over 300 , things are going come together for this company.


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