Message to Stockholders

In 2007 Apex focused on re-strategizing its mining methods and intensifying its development work. These goals were a challenge both to management and employees but we are pleased to announce success all round.

MD&A

PLANS FOR 2008

The programs for 2008 will be intensively devoted to underground development in preparation for the declaration of operations at the end of the year.

Apex Mining Company is listed on the Philippine Stock Exchange. Apex’s Maco Mine is a gold, silver and copper mineral property located in Maco Municipality, in Compostela Valley Province in Eastern Mindanao in the southern Philippines.

Regional Geological Settings

The Maco-Masara mineral district lies at the extreme end of the eastern gold belt of the Philippine Archipelago, which is roughly delineated along the Philippine Fault zone.

	Consolidated Balance Sheets
	Statement of Income
	Statement of Changes in Equity
	Statement of Cash Flows
	Notes to Financial Statements

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Message to Stockholders

MD&A

Maco Gold Mine

Geology

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