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Philippines
Co-O Mine

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 Location:
23 km S from San Francisco, Philippines

  Regional Office:
Bayugan 3
Rosario,Agusan del Sur
Philippines
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Shrinkage stoping
  • Room-and-pillar
Production Start...
Mine Life3 years (as of Jan 1, 2022)


Owners

Source: p. 16, 158
CompanyInterestOwnership
Ten Sixty Four Ltd. 100 % Indirect
Philsaga Mining Corp. (operator) 100 % Direct
The Co-O Gold Mine is operated by Philsaga Mining Corp.

Contractors

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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 volcano-plutonic 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 current limits being a function of geological plunge and lack of drilling.


Mining Methods

  • Shrinkage stoping
  • Room-and-pillar


Summary:

The Co-O Mine is a shaft access, underground track mine, utilising battery powered locomotives and mine cars. Air-leg mining is used to extract the ore and waste is hauled to surface via the main L8 Production Shaft, two 60- degree inclined shafts; Baguio and Agsao, and through the original portals.

By the end of FY 2022, five primary winzes (internal inclined shafts) were in operation, hoisting to Level 8. The 12E and 29E winzes service Level 9 while the 12E and 48E winzes service both Level 9 and 10. The 35E winze is currently servicing Levels 11 and 12. The 43E internal shaft is currently in development down to L12. It is projected to provide additional support to future development and production at Levels 11 and below.

E15 Shaft, a man and materials shaft, was completed in November 2018. The shaft is used for transporting people and materials underground enabling increased utilisation of the L8 Shaft for hoisting of ore.

As Ore Reserves are diminished from the upper levels, the utilisations of the Portals, Agsao and Baguio shafts for hoisting of ore will reduce partially offsetting the increased skipping expected from L8 Shaft.

Two mining methods are currently utilised at the Co-O Mine:

Shrink stope mining is predominantly used on steeply dipping veins with a minimum mining width of 1.25 metres. Mining commences from the bottom and progresses upwards and the broken ore is left in the stope to provide ground support. ........


Crushing and Grinding
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Processing

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Summary:

- subscription is required.


Production:

CommodityUnits2022202120202019201820172016
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required95,70580,743108,578
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required606,675 wmt550,400 wmt564,965 wmt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required544,601 dmt494,989 dmt499,733 dmt
Daily milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Reserves at December 31, 2021:
Ore Reserves cut-off grade of 3.5 g/t gold has been applied to all stopes.

CategoryTonnage CommodityGradeContained Metal
Proven 206,000 t Gold 7.32 g/t 48,500 oz
Probable 1,668,000 t Gold 5.27 g/t 282,900 oz
Proven & Probable 1,874,000 t Gold 5.5 g/t 331,400 oz
Measured 237,000 t Gold 8.09 g/t 62,000 oz
Indicated 1,233,000 t Gold 10.59 g/t 420,000 oz
Measured & Indicated 1,470,000 t Gold 10.19 g/t 482,000 oz
Inferred 971,000 t Gold 9.73 g/t 304,000 oz
Total Resource 2,441,000 t Gold 10.01 g/t 786,000 oz

Commodity Production Costs:

CommodityUnits2022202120202019201820172016
Total cash costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 562 / oz   595 / oz   466 / oz  
All-in sustaining costs (AISC) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,083 / oz   1,374 / oz   999 / oz  
^ Guidance / Forecast.
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Financials:

Units2022202120202019201820172016
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 124.6   100.1   128.1  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 41.3   32.9  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -49.1  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required -55.6   -56.7   43.8  
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required -25.3   -29.8   69.5  
Operating Cash Flow M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 44.6   51.3   55.2  
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required 2017
Subscription required 2016
Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Annual Report 2017
Annual Report 2016
Corporate Presentation 2016
Annual Report 2015
Technical Report 2010
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