Mining Intelligence and News
Philippines

Co-O Mine

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Co-O Mine

Location: 31 km S from San Francisco, Philippines

Regional Office:


Rosario
Philippines

Contacts:

Additional Resources for Suppliers & Investors

Categories

Overview

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 of the appropriate regulatory permits to allow underground mining, haulage and processing of ore material, and storage of tailings.

Tigerway Decline Project ("Tigerway")
The Co-O Mine currently relies on existing infrastructure to efficiently hoist ore and waste material to the surface. While this system supports mining up to Level 12 (approximately 600 meters deep), which aligns with current Ore Reserves, it presents a limitation for accessing and exploiting deeper, potentially resource-rich zones.

To overcome this limitation and achieve cost-effective extraction, a comprehensive study identified the Tigerway decline – a new access built from the surface – as the optimal long-term infrastructure solution for the Co-O Mine. The Tigerway is expected to not only enable efficient mining at deeper levels, but also facilitate further exploration.

Owners

SourceSource
CompanyInterestOwnership
Ten Sixty Four Ltd. 40 % Indirect
Philsaga Mining Corp. (operator) 100 % Direct
Ten Sixty Four Limited holds a direct 40% shareholding in Philsaga Management and Holding Inc (PMHI).

The PMHI Group includes Philsaga Mining Corporation (PMC) which operates the Co-O Mine under a Mineral Production and Sharing Agreement with the Republic of the Philippines.

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 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.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnits202320222021202020192018201720162015
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe103,30795,70580,743108,57898,359
All production numbers are expressed as metal in doré.

Operational metrics

Metrics202320222021202020192018201720162015
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe606,675 wmt550,400 wmt564,965 wmt623,659 wmt659,495 wmt
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe544,601 dmt494,989 dmt499,733 dmt561,192 dmt582,311 dmt
Daily milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Production Costs

CommodityUnits2023202220212020201920182017
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe 546 / oz   562 / oz   595 / oz  
All-in sustaining costs (AISC) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,045 / oz   1,083 / oz   1,374 / oz  

Financials

Units202220212020201920182017
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 129.6   124.6   100.1  
Gross profit M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 53.9   41.3   32.9  
Pre-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe -49.1  
After-tax Income M USD  ....  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 49.2   44.6   51.3  

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2024

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

Aerial view:

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