Philex Mining Reports P171 Million Net Income fo Q2, P301 Million Net Income for H1 2025

​Philex Mining Corporation (the “Company” or “Philex”) generated P171 million net income and EBITDA of P325 million for 2Q2025 from the P215 million net income and EBITDA of P617 million in the same period last year. Core net income dipped to P65 million for 2Q2025 from P305 million core net income in 2Q2024. Net income and core net income for 1H2025 reached P301 million and P136 million, respectively. EBITDA for 1H2025 declined to P654 million from P912 million in the same period of 2024.

Average realized gold prices in 2Q2025 were higher at US$2,504 per ounce compared with the US$2,008 per ounce in 2Q2024, but lower than the US$2,587 of 1Q2025. Realized copper prices for the second quarter was at US$4.09 per pound, lower than the US$4.32 in 1Q2025 and the US$4.45 per pound in 2Q2024. Average gold price for 1H2025 was at $2,541 per ounce and copper at $4.19 per pound.

Tonnage milled for 2Q2025 was at 1.800 million tonnes, higher than the 1.602 million tonnes in 1Q2025. Gold output for 2Q2025 was 6,769 ounces, higher than the 6,083 ounces of 1Q2025 but lower than the 7,962 ounces of 2Q2024. Copper output for 2Q2025 was at 4.788 million pounds which is lower than the 5.133 million pounds of 2Q2024 and 4.595 million pounds of 1Q2025. Total tonnes milled for 1H2025 was 3.403 million tonnes, with gold output at 12,852 ounces and copper output at 9.382 million pounds.

Operating revenues amounted to P1.860 billion in 2Q2025 from the P1.896 billion in 1Q2025, lower than the P2.236 billion in 2Q2024. Operating revenues for 1H2025 was at P3.755 billion, lower than the P3.974 billion of the same period last year.

Operating costs slightly increased to P1.768 billion in 2Q2025 from the P1.764 billion in 1Q2025 but lower than P1.825 billion of 2Q2024. Operating costs and expenses for 1H2025 was P3.532 billion, higher than the P3.468 billion of the same period in 2024.

Outlook still remains positive with the continued development works at the Silangan Copper and Gold Project in Surigao Del Norte.

“We continue to accelerate development works of the Silangan Project, as we target our first metal production by the first quarter of 2026” according to Philex President and CEO Eulalio Austin, Jr., “ With the periphery of the Sta. Barbara I ore body (formerly Boyongan) reached last year, we’ve begun drives at the first production level. We are likewise building up ore stockpile from our first production drifts that would feed our process plant, which we aim to commission before the year-end. Construction on all other ancillary facilities continue and progressing steadily with the tailings storage facility ready to accept tailings before the year ends and power infrastructure already in place.”