Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Philippine gold producer Metals Exploration reported a rise in third-quarter sales after it sold higher volumes of the yellow metal.
Sales for the three months through September increased to $34.2 million, up from $31.3 million year-on-year and $29.7 million in the third quarter of 2021.
Gold sold was19,197 ounces at an average realised gold price of $1,782 per ounce, up from 16,429 ounces in the second quarter at an average price of $1,807.
To be sure, ore and waste mined for the quarter were below forecast, at 2.64 million tonnes of which total ore mined was 546,000 tonnes.
'This quarter has continued to produce strong results despite some challenges,' chief executive Darren Bowden said.
'We look forward to continuing to build on this quarter's performance for the remainder of this year and into 2022.'