Mining Intelligence and News
Philippines

Co-O Mine

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Co-O Mine

Location: 29 km S from San Francisco, Philippines

Regional Office:

Bayugan 3
Rosario
Philippines
8504

Contacts:

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Categories

Summary

Mine TypeUnderground
StatusActive
Commodities
  • Gold
Mining Method
  • Shrinkage stoping
  • Room-and-pillar
Production Start... Lock
Mine Life... Lock
SnapshotThe Co-O project is an operating gold mine with all the appropriate regulatory permits to allow underground mining, haulage and processing of ore material, and storage of tailings.

A comprehensive study identified the Tigerway decline, a new surface access, as the optimal long-term solution for the Co-O Mine. It will enable efficient deeper mining and support further exploration.

As of 2024, Tigerway decline development has been temporarily halted 620m below surface (4,336m of decline development) to allow integration work to be completed and ore to pass through the Tigerway (88.49% overall completion).

The Deed Administrator has continued to investigate the events leading up to the Company entering into administration.

The Case is part of the previously disclosed dispute over, amongst other things, the ownership of the 60% of Philsaga Management and Holdings Inc (PMHI) not held by the Ten Sixty Four Ltd., and various legal claims filed in the Philippine Courts.

Owners

SourceSource
CompanyInterestOwnership
Ten Sixty Four Ltd. 40 % Indirect
Philsaga Mining Corp. (operator) 100 % Direct
The Ten Sixty Four Ltd. holds a 40% indirect equity interest in the Philippine entities that operate the Co-O Mine and/or are undertaking related exploration projects, via its direct shareholding in Philsaga Management and Holdings Inc (“PMHI”) with Philippine local Mr Raul Villanueva holding (either directly or indirectly) the majority interest of 60% in PMHI.

Philsaga Mining Corp (PMC) manages and operates the Co-O Gold Mine through a Mineral Production Sharing Agreement (MPSA).

Contractors

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SourceSource

Deposit type

  • Epithermal
  • Vein / narrow vein

Summary:

The Co-O deposit is an intermediate sulphidation, epithermal gold (+Ag ±Cu±Pb±Zn) vein system. The deposit is located in the Eastern Mindanao volcanoplutonic belt of the Philippines.

The overall Co-O project area comprises numerous anastomosing veins generally orientated East-West with steep and flat dipping inter-connected veins within a 0.5km x 2.0km area. Mineralisation extends from surface to approximately 850m below surface. The depth limit to mineralisation is not yet defined, with limits being a function of geological plunge and lack of drilling.

Mineralisation is hosted within narrow, typically <2m wide quartz veins. Orientations of the veins are typically E-W, with variations from NE-SW to NW-SE, with dips varying from flat-lying to steep dipping to the North. Surface drillholes were generally drilled towards the South and vary in dip (-45° to -60°). Underground drillholes are orientated in various directions and dips, depending on rig access to intersect the various mineralised veins at different locations within the mining area.

Due to the nature of this style of mineralisation and the limited underground access for drilling, drilling may not always intersect the mineralisation or structures at an optimum angle, however this is not considered to be material. A good understanding of the deposit geometry has been developed through mining such that it is considered that any sampling bias is recognised and accounted for in the interpretation.

Reserves

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Mining Methods

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Heavy Mobile Equipment

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EV - Electric

Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnits20252024202320222021202020192018201720162015
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe103,307 95,705 80,743 108,578 98,359 
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational metrics

Metrics20252024202320222021202020192018201720162015
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe606,675 wmt550,400 wmt564,965 wmt623,659 wmt659,495 wmt
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe544,601 dmt494,989 dmt499,733 dmt561,192 dmt582,311 dmt
Daily milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Production Costs

CommodityUnits202520242023202220212020201920182017
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe 546 / oz   562 / oz   595 / oz  
All-in sustaining costs (AISC) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,045 / oz   1,083 / oz   1,374 / oz  
^ Guidance / Forecast.

Mine Financials

Units20242023202220212020201920182017
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 129.6   124.6   100.1  
Gross profit M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 53.9   41.3   32.9  
Pre-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe -49.1  
After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 36.5   -55.6   -56.7  
EBITDA M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 51.4   -25.3   -29.8  
Operating Cash Flow M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 49.2   44.6   51.3  

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 11, 2025
....................... Subscription required ....................... Subscription required Subscription required Nov 11, 2025
....................... Subscription required ....................... Subscription required Subscription required Nov 11, 2025
....................... Subscription required ....................... Subscription required Subscription required Nov 11, 2025
....................... Subscription required ....................... Subscription required Subscription required Nov 11, 2025

Workforce

EmployeesYear
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Aerial view:

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