Gentlemen:
This is in reply to your query regarding the published article today, July 1, 2016 of BusinessWorld Internet version. The article reported in part that:
“LISTED Apex Mining Co., Inc., said it is aiming to more than triple its profit this year on the back of a higher targeted capacity at its Maco mine in Compostela Valley and a projected recovery in gold prices.
In an interview with BusinessWorld, Apex Mining Comptroller Marion Saul V. Aggarao said the firm set a P320-million net income target this year, a 351% increase from last year’s P71 million. Apex Mining is also looking to generate a billion more in revenues this year to P3.4 billion.
‘Basically, from production and a $1,300 gold price,’ said Billy G. Torres, Apex treasury and budget head, when asked on what will drive its profit.
Apex Mining Executive Vice-President for Geology, Exploration and Operations Graciano P. Perez, Jr. said it is aiming to boost gold production this year to reach 53,000 to 55,000 ounces. This was at least 23% more than last year’s 43,048 ounces of gold, which a record high for its operations.
. . . . ”
In view of the above, we wish to confirm the published article of Businessworld as quoted above. However, we would like to correct the names of the two officers as mentioned in the report. Their names should be Messrs. Graciano P. Yumul, Jr. not Graciano P. Perez, Jr. and Modesto B. Bermudez not Modesto M. Bermudez.
Very truly yours,
(SG.) Rosanna A. Parica Corporate Secretary |