{"id":332745,"date":"2025-06-05T00:22:21","date_gmt":"2025-06-04T16:22:21","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332745"},"modified":"2025-06-05T00:22:23","modified_gmt":"2025-06-04T16:22:23","slug":"trade-the-news-px-to-spend-1-billion-more-to-develop-silangan","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-px-to-spend-1-billion-more-to-develop-silangan\/","title":{"rendered":"Trade the News: PX to spend $1 billion more to develop Silangan"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Philex Mining Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>PX<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 8.79<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Philex Mining Corp. (PX), one of the country\u2019s oldest and largest gold producers, said its Silangan project will spend $1 billion (P55 billion) in capital expenditures to develop and ramp-up its production.<\/p>\n\n\n\n

The projected spending will raise Silangan mine\u2019s full capacity to four million metric tons (MT) every year, according to Philex.<\/p>\n\n\n\n

The estimated capex excludes the sustaining capex needed by the project and is also on top of the firm\u2019s pre-development investment in Silangan mine of P18 billion, according to Philex.<\/p>\n\n\n\n

Furthermore, Silangan is spending around P5 million per year on its social development and management program even if the project is not yet operating, Philex said.<\/p>\n\n\n\n

Based on the in-phase mine plan and on the latest updates on the construction and procurement process, the Silangan Project is slated to have its first metal production by March 2026.<\/p>\n\n\n\n

Philex said it recently unveiled its Silangan project at its project site in Barangay Timamana, Tubod, Surigao del Norte.<\/p>\n\n\n\n

The ceremony was held in front of the grinding complex which is composed of major equipment such as the semi autogenous grinding mill, mill liner handler and cyclone cluster pump at the process plant to showcase it as one of the most critical areas of the mine project.<\/p>\n\n\n\n

The process plant also includes copper leaching and gold leaching operations, Philex said.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-332745","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=332745"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332745\/revisions"}],"predecessor-version":[{"id":332747,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332745\/revisions\/332747"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}