Philex says Silangan timetable could slip if no financing by first half of 2020

BAGUIO CITY — Philex Mining Corp. said the initial stages of development of its Silangan gold and copper project in Surigao del Norte could be delayed if it canot raise $350 million in financing by the first half of 2020.

“Depende pa din sa availability of funds pero for sure if by 2020 wala pa yung initial money for early works, the timetable will move (It depends on the availability of funds but for sure if by 2020 there is still no initial money for early works, the timetable will move),” Philex Mining President and Chief Executive Officer Eulalio B. Austin, Jr. said on the sidelines of an event here. Company have good numbers of years

TECHNICAL CHART

KEY TAKEAWAYS

  • We are speculating that the project will go on schedule
  • Corporate Governance & Valuation looks reasonable
  • Fundamentally sounds fair
  • We buy cautiously in stages

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Article by: Ashok MBA – Strategic Financial Coach

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