Apex Mining ended 2015 with P71-M net income
APEX Mining Co. Inc. said it turned around its operations last year by posting a consolidated net income of P71 million, from a net loss of P389.9 million in 2014.
Its parent company’s net income amounted to P168.9 million, before reflecting a loss of P97.9 million in the consolidation of the company’s subsidiary accounts.
Revenue for the period amounted to P2.4 billion, higher by 40 percent from the P1.7-billion revenue reported in 2014. This was achieved from the record output of the company’s Maco mine in Compostela Valley, producing 43,048 ounces of gold and 224,479 ounces of silver in 2015. This surpassed the 28,802 ounces of gold and 158,754 ounces of silver produced in 2014.
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