Atlas revenue up, income down

Atlas Consolidated Mining and Development Corp grew revenue by 12% to P16.2 billion in 2014, helped by higher revenues from copper, gold, and nickel. However, its consolidated net income declined to P397 million from 1.9 billion, mainly because of the collective effect of lower prices, increased depreciation, higher financing charges, and higher income tax provision in 2014.

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Masbate SAG mill performs well

The new SAG mill at B2Gold’s Masbate Gold Project in Masbate Island is now running consistently and performing well. As a result mill throughput in the first quarter was 1,756,234 tonnes, about 10% higher than in the first quarter of 2014.

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Siana operations resume

Red 5 has resumed milling operations at Siana Gold Project with 64,902 tonnes processed and 6345 ounces of gold produced to the end of February. The average mill head grade of processed ore was 3.49 grams/tonne at an average gold recovery of 89.5%.

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Didipio’s role in company success

Processing facilities at OceanaGold’s Didipio Gold Project in the north of the Philippines.THE low costs and high grades of the Didipio Gold Project in Luzon have contributed greatly to OceanaGold’s record revenue and net profit in 2014. Managing director and CEO Mick Wilkes says the project has been a huge success for the company and continues to perform very well.

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