APEX MINING Sees 49.7% Jump in Q2 Profit as Metal Prices Offset Lower Volumes

APEX MINING Co., Inc. saw its attributable net income jump 49.7% to P2.57 billion in Q2 from P1.71 billion a year earlier.

This increase was mainly due to higher gold and silver prices, as well as a favorable foreign exchange effect, which more than offset lower sales volumes.

The company's gross revenue for the quarter rose 30.3% to P6.52 billion from P5 billion a year earlier.

APEX MINING sold 22,861 ounces of gold during the quarter, down 12% from 26,074 ounces a year earlier, but its realized gold price rose 34% to $4,424 per ounce.