Philippine Stock Report #12: Philex Mining Corporation (PX)

Hi Everyone!

Today, we'll be discussing a company from the Mining and Oil Industry since 1955 and has the oldest operating mines in the country. The Philex Mining Corporation (PX).

The Company and its subsidiaries are organized into two main business groupings: the mining business, which is directly under PX, Philex Gold Philippines, Inc. (PGPI) and Silangan Mindanao Mining Co., Inc. (SMMCI), and the energy and hydrocarbon business under PXP Energy Corporation (PXP), formerly Philex Petroleum Corporation.

The Company and its subsidiaries are primarily engaged in large-scale exploration, development, and utilization of mineral resources. PX operates the Padcal mine for the past 61 years using the underground block-cave method. It is one of the oldest operating mines in the country and produces copper concentrates, containing copper, gold and silver.

http://www.philexmining.com.ph

1. Basic Information:

Philex Mining Corporation (PX)

Sector: Mining and Oil

2. The Company's History:

July 19, 1955: Philex Mining Corporation (PX) was incorporated to primarily engage in mining activities.

November 23, 1956: The Company has been listed in the Philippine Stock Exchange.

February 29, 2016: The Company's Board of Directors approved a property dividend consisting of shares of stock of PXP at the ratio of seventeen PXP shares for every one hundred shares of PX

June 22, 2016: Securities and Exchange Commision approved the decision of the Company's Board of Directors last February 29, 2016

July 15, 2016: when PXP Energy Corporation (PXP) formerly Philex Petroleum Corporation, and its subsidiaries ceased to be subsidiaries of Philex Mining Corporation as a result of loss on control through property dividend declaration.

The transaction reduced PX's shareholdings in PXP from 64.7% to approximately 19.8%, allowing PX to leverage on its key strengths and focus its resources on its core business of metals mining, particularly with respect to the extension of Padcal's life of mine, commercoal operations of the Silangan project and development of other Company mining tenements.

December 31, 2016: The Group's mining business remains as its only business segment.

<Here's the Company's Data for the past year 2017-2018>

f:id:tanakajiro:20181015113322p:plain

f:id:tanakajiro:20181015113715p:plain

3. Present Stock (2018/10/15)

For the fiscal year ended: Dec. 31, 2017

Currency: Philippine Pesos (PHP)

f:id:tanakajiro:20181015115141p:plain

4. Chairman of the Board

Chairman: Manuel V. Pangilinan

Age: 72

Nationality: Filipino

Education:

- Bachelor of Arts degree in Economics from Ateneo de Manila University

- Master of Business Administration degress from Wharton School of the University of Pennsylvania

Background:

- Founder of First Pacific Company Limited

- Chairman of PLDT Communications and Energy Ventures, Inc., Smart Communications, Inc., Metro Pacific Investments Corporation, Manila Electric Company, PXP Energy Corporation, Silangan Mindanao Mining Co., inc., Lando Pacific Corporation, Medical Doctors Inc., Cardinal Santos Medical Center, Asian Hospital, Inc., Davao Doctors, Inc., Riverside Medical Center Inc., Our Lady of Lourdes Hospital, Inc., Central Luzon Doctors' Hospital, Inc., Maynilad Water Services Corporation, Mediaquest, Inc., Associated Broadcasting Corporation (TV5) and Manila North Tollways Corporation.

- Chairman of the Manila Electric Company (MERALCO)

- Vice Chairman and Non-Executive Director of Roxas Holdings, Inc.

f:id:tanakajiro:20181016112032p:plain