APEX Mining Co. Inc. reported consolidated income for the nine-month period amounted to P991 million, 337-percent higher than in 2019, and the highest in the history of the company. In a disclosure to the Philippine Stock Exchange on Tuesday, the mining firm said profit jumped from last year’s P227 million. Likewise, parent company net income surged by 314 percent to P1.0 billion from P253 million in the same period a year ago. Apex Mining President and Chief Executive Officer Luis Sarmiento credits the resilience of the company’s teams in the mine sites for this positive financial performance, despite the many operational challenges posed by the coronavirus disease 2019 (Covid-19) pandemic. Gold sales reached 26,031 ounces in the third quarter, 65.5-percent higher from 15,724 ounces sold in the previous year.

Source: Manila Times November 17, 2020 16:52 UTC