LISTED gold producer Philex Mining Corp. said Thursday its core net income in the first quarter rose 18 percent from a year earlier to P458 million, driven mainly by higher metal prices although partly offset by lower metal output.

Philex said its Padcal mine milled 1.998 million metric tons of ore for 88 days during the first quarter against the 2.325 million MT milled in 2016. It said the lower tonnage was due to fewer operating days and equipment availability issues.

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