APEX MINING CO., Inc. reported a 67% increase in its attributable net income for the second quarter (Q2) to P1.71 billion, from P1.03 billion a year ago, driven by higher gold prices.
Revenue for the April-June period rose 44% to P5 billion from P3.47 billion in the same period last year, the company said in a regulatory filing on Wednesday.
Gold sales accounted for P4.82 billion, up 44.9% from P3.33 billion, while silver contributed P177.07 million, up 23.9% from P142.87 million.
Cost of production for the quarter increased 24.3% to P2.25 billion from P1.81 billion a year ago.
For the first half, attributable net income reached P3.2 billion, up 69.5% from P1.89 billion, while revenue rose 36.9% to P9.5 billion from P6.94 billion.
Cost of production for the period climbed 9.8% to P4.23 billion from P3.85 billion.
“The surge in realized gold price of $3,121 per ounce (oz) during the year versus $2,264/oz last year drove revenues up in the first half of 2025,” the company said.
Apex sold 51,436 oz of gold at a realized price of $3,132/oz, and 197,925 oz of silver at $33.18/oz, including output from its Maco Mine in Davao de Oro and the Sangilo Mine in Benguet, operated by subsidiary Itogon-Suyoc Resources, Inc.
On Tuesday, Apex Mining shares closed 22 centavos, or 3.44%, higher at P6.62 apiece. — Justine Irish D. Tabile
