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PHILEX Mining Corp. said Tuesday that a wholly owned subsidiary had secured a $100-million syndicated debt facility from local banks to support its ongoing development project.
Pangilinan-led Philex Mining Corp. said it is on the lookout for mergers and acquisitions in green metals such as nickel.
Pangilinan-led Philex Mining Corp. can now proceed with its stock rights offering after it received its permit to sell from the Securities and Exchange Commission.
Pangilinan-led Philex Mining Corp. is targeting to conduct its stock rights offering next month.
Panglinan-led Philex Mining Corp. reported a 25 percent increase in its core net income in the first quarter to P676 million, driven by stable production and higher metal prices.