PHL nickel miners seen to get a boost from Indonesia export ban

“The move of Indonesian government in the ban of nickel exports will cause the price of the metal rise in the world market and that may translate to higher revenues for Nickel Asia, Global Ferronickel and other nickel-exporting firms from the Philippines,” he said in a text message.

Meanwhile, the Philippine Stock Exchange, Inc. (PSE) has lined up proposed amendments for the Philippine Mineral Reporting Code (PMRC) 2007. (Business World)

PHILEX AWAITS ECC PERMIT FOR $2-B SILANGAN PROJECT

Philex Mining Corp., the country’s largest gold producer, is securing another environmental permit for its $2-B Silangan Mine project as it hurries to get the project on board before its mine in Padcal, Benguet gets fully depleted.

Philex’s Padcal mine is moving closer towards the end of its mine life. It is the longest operating mine in the country and currently serves as the listed company’s primary source of revenues.

The company has been operating Padcal mine for the last 61 years, employing the underground block-cave method. With Padcal mine now almost depleted, the company is now fast-tracking developments at its Silangan Mine in Surigao del Norte.

TECHNICAL CHARTS

KEY TAKEAWAYS

  • Both companies have a potential for big jumps
  • Both Technically and Fundamentally looks good
  • Both have good potential for dividends and capital appreciation

Always remember to diversify your purchases with proper diversification.

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Article by: Ashok – Strategic Coach & Mentor – Philippine Stocks

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