Plan of Arrangement Closed Plan of Arrangement Closed On Apr 27, 2010
Bayugo Project Resource Estimate Philex Gold Announced the Completion of the National Instrument 43-101 Compliant Mineral Resource Estimates for its Bayugo Project in the Republic of the Philippines in Which the Company has a 50% Interest and the Other 50% is Held by Philex Mining Corporation, the Indirect Parent of the Company. Using a 0.4% CU Cut-Off, Indicated Resource is Estimated at 85.71 Million Tonnes Grading 0.88% Copper, 0.73 G/T Gold and Inferred Resource is Estiamted at 32.74 Million Tonnes Grading 0.75% Copper, 0.63 G/T Gold. On Nov 25, 2009
Boyongan Deposit Pre-Feasibility Study Completed Philex Gold Announced That the Recently Completed Pre-Feasibility Study on the Boyongan Copper-Gold Porphyry Deposit in the Philippines Concluded That the Project is Economically Viable. the Study, Using Long-Term Metal Prices of$2.75/Lb for CU and$700/Oz for AU for the Base Case, Shows a Positive NPV of US$150 Million and a Payback of 3.5 Years. the Life of Mine Production Schedule Includes 2 Years of Pre-Stripping to Allow a Mine Life of 14 Years
At a Constant Millfeed Rate of 5 Mtpa. in Addition, the Study Highlighted an Opportunity of Accessing Additional Mineralized Ground in the Northwest Portion of the Orebody VIA the Future In-Pit Ramp. This Additional Mineralized Material has not Been Included in the Mineral Resource NOR the Mineral Reserve Statements And, as Such, is Currently Classified as Inferred Mineral Resources. Proven and Probable Mineral Reserves Total 67.8 MT at 0.87% CU and 1.37 G/T AU at 0.60% CU and 0.80 G/T AU Cut-Offs. On Nov 14, 2008
Clarification RE: Boyongan Deposit Resources & Reserves Clarification RE: Boyongan Deposit Resources & Reserves On Sep 30, 2008
Boyongan Project Interest Acquisition Announced Boyongan Project Interest Acquisition Announced On Sep 26, 2008
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