Exch Rate: Peso to US$ 56

Quantity
DRILLING
Labor Component - 1st well
(1) General Mobilization - Cebu to Surigao 1
(2) Rig Preparation & Set up 1
(3) Drilling of PQ size pilot hole from 0-200 meters depth, including core recovery 200
(4) Georesistivity logging of the hole for aquifer identification/ well design 1
(5) Reaming of hole to 200mm dia by tricone 250
(6) Reaming of hole to 310 mm dia by tricone 250
(7) Reaming of hole to 400 .. Dia by tricone 250
(8) Installation of 300 mm dia BI casings & stainless steel screens 1
(9) Deflocculation of drilling mud by injection of sodium hexametaphosphate 1
(10) Installation of gravel pack,no.10 1
(11) Well development by surging 24
(12) Well development by jetting 36
(13) Pump testing the well (using GRC pump) 72
(14) Pedestal construction & site clean up 1

Labor component - 2nd well

(2) Rig Preparation & Set up 1
(3) Drilling of PQ size pilot hole from 0-200 meters depth, including core recovery 200
(4) Georesistivity logging of the hole for aquifer identification/ well design 1
(5) Reaming of hole to 200mm dia by tricone 250
(6) Reaming of hole to 310 mm dia by tricone 250
(7) Reaming of hole to 400 .. Dia by tricone 250
(8) Installation of 300 mm dia BI casings & stainless steel screens 1
(9) Deflocculation of drilling mud by injection of sodium hexametaphosphate 1
(10) Installation of gravel pack,no.10 1
(11) Well development by surging 24
(12) Well development by jetting 36
(13) Pump testing the well (using GRC pump) 72
(14) Pedestal construction & site clean up 1

Labor component - 3rd well

(2) Rig Preparation & Set up 1
(3) Drilling of PQ size pilot hole from 0-200 meters depth, including core recovery 200
(4) Georesistivity logging of the hole for aquifer identification/ well design 1
(5) Reaming of hole to 200mm dia by tricone 250
(6) Reaming of hole to 310 mm dia by tricone 250
(7) Reaming of hole to 400 .. Dia by tricone 250
(8) Installation of 300 mm dia BI casings & stainless steel screens 1
(9) Deflocculation of drilling mud by injection of sodium hexametaphosphate 1
(10) Installation of gravel pack,no.10 1
(11) Well development by surging 24
(12) Well development by jetting 36
(13) Pump testing the well (using GRC pump) 72
 (14) Pedestal construction & site clean up 1

Labor component - 3rd well

(2) Rig Preparation & Set up 1
(3) Drilling of PQ size pilot hole from 0-200 meters depth, including core recovery 200
(4) Georesistivity logging of the hole for aquifer identification/ well design 1
(5) Reaming of hole to 200mm dia by tricone 250
(6) Reaming of hole to 310 mm dia by tricone 250
(7) Reaming of hole to 400 .. Dia by tricone 250
(8) Installation of 300 mm dia BI casings & stainless steel screens 1
(9) Deflocculation of drilling mud by injection of sodium hexametaphosphate 1
(10) Installation of gravel pack,no.10 1
(11) Well development by surging 24
(12) Well development by jetting 36
(13) Pump testing the well (using GRC pump) 72
(14) Pedestal construction & site clean up 1
(15) Rig demobilization - Surigao to Cebu 1
Subtotal - Drilling
MATERIALS (to be provided by GRC)
BI casings - 300mm x 6m, Sched 40 520
Stainless steel wedgewire wound screens 280
Gravel pack/Screened pebbles, no. 10 42
Sodium hexametaphosphate 8
Portland Cement 100
Submersible pump assembly 4
Submersible pump controls, wires, pipes 4
Sand, screened and gravel for pedestal 12
Subtotal - Materials
SUBMERSIBLE PUMPS
Submersible Pump Assembly (Pijler Inc.) 4
6 inches B.I pipe riser schedule 80 80
6 inches coupling B.I pipe schedule 80 96
Wire Rope (1/2 inch) (4 length by 200 meters) 800
Flow meter 4
1 " HDPE pipe 8
stainless U-bolt clamp 1/2'' diameter 40
water level sensor 4
Mining Hose 6 mtr. Lgth X 6" diameter with flange (taurus brand) 4
Bandimex B204 1/2'/" X 12.7 mm 16
Float switch wire 1.5mmsquare 3 core 800
4'' Makita Angale Grinder 2
Steel plate (1/2 inch) 4
Subtotal - Submersible Pumps
ELECTRICAL COST
MCC AREA
OVERHEAD LINE EXTENSION
LABOR
 LOGISTICS
Subtotal - Electrical
RESISTIVITY SURVEY
Mobilization/Demobilization/Clearing
Georesistivity Survey for 50 VES points
Data processing/3D Modelling/Report Writing
Subtotal - Resistivity Survey

CAPEX TOTAL (Php)

Total [Excl VAT]
Contingency @ 5%
VAT @ 12%
PHP Total [Incl VAT+Contingency]
USD Total [Incl VAT+Contingency]
Unit Unit Cost (Php) Total Cost (Php) Feb-24 Mar-24 Apr-24

lump sum 345,000 345,000

lump sum 60,000 60,000
meter 9,620 1,924,000 1,924,000
lump sum 80,000 80,000
meter 3,500 875,000 875,000
meter 3,500 875,000 875,000
meter 3,500 875,000 875,000
lump sum 250,000 250,000
lump sum 125,000 125,000
lump sum 100,000 100,000
hours 3,000 72,000 72,000
hours 3,000 108,000 108,000
hours 3,000 216,000 216,000
lump sum 60,000 60,000

lump sum 60,000 60,000

meter 9,620 1,924,000 1,924,000
lump sum 80,000 80,000
meter 3,500 875,000 875,000
meter 3,500 875,000 875,000
meter 3,500 875,000 875,000
lump sum 250,000 250,000
lump sum 125,000 125,000
lump sum 100,000 100,000
hours 3,000 72,000 72,000
hours 3,000 108,000 108,000
hours 3,000 216,000 216,000
lump sum 60,000 60,000

lump sum 60,000

meter 9,620 1,924,000
lump sum 80,000
meter 3,500 875,000
meter 3,500 875,000
meter 3,500 875,000
lump sum 250,000
lump sum 125,000
lump sum 100,000
hours 3,000 72,000
hours 3,000 108,000
hours 3,000 216,000
 lump sum 60,000

lump sum 60,000

meter 9,620 1,924,000
lump sum 80,000
meter 3,500 875,000
meter 3,500 875,000
meter 3,500 875,000
lump sum 250,000
lump sum 125,000
lump sum 100,000
hours 3,000 72,000
hours 3,000 108,000
hours 3,000 216,000
lump sum 60,000
lump sum 300,000
23,125,000

meters 6,900 3,588,000 3,588,000

meters 4,000 1,120,000 1,120,000
cu.m 1,200 50,000 50,000
sacks 500 4,000 4,000
bags 300 30,000 30,000
sets - -
lot - -
cum 800 9,600 9,600
4,801,600

unit 2,601,845 10,407,379 10,407,379

pcs 25,000 2,000,000 2,000,000
pcs 5,500 528,000 528,000
meters 1,125 900,000 900,000
pcs 75,000 300,000 300,000
roll 7,000 56,000 56,000
pcs 200 8,000 8,000
pcs 400 1,600 1,600
lgth 24,000 96,000 96,000
box 7,500 120,000 120,000
mtr 600 480,000 480,000
pcs 7,500 15,000 15,000
pcs 38,000 152,000 152,000
15,063,979

13,204,101 6,602,051
518,483 259,241
381,545 190,772
 300,000 150,000
14,404,129

40,000 40,000
1,150,000 1,150,000
160,000 160,000
1,350,000

58,744,708
58,744,708 4,841,600 29,541,043 5,620,000
2,937,235 242,080 1,477,052 281,000
7,049,365 580,992 3,544,925 674,400
68,731,308 5,664,672 34,563,021 6,575,400
1,227,345 101,155 617,197 117,418
 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

60,000
1,924,000
80,000
875,000
875,000
875,000
250,000
125,000
100,000
72,000
108,000
216,000
60,000

60,000
1,924,000
80,000
875,000
875,000
875,000
250,000
125,000
100,000
72,000
108,000
216,000
60,000
300,000

6,602,050.60
259,241.30
190,772.39
 150,000.00

5,620,000 13,122,064 - - - - - -
281,000 656,103 - - - - - -
674,400 1,574,648 - - - - - -
6,575,400 15,352,815 - - - - - -
117,418 274,157 - - - - - -
Project : DEWATERING WELLS
Client : Greenstone Resources Corporation
Location : Siana, Tubod, Surigao del Norte
Specifications : (a) depth - 200 meters each hole
(b) 4 holes
Item No. Description of Works
(A) Labor Component - 1st well
1 General Mobilization - Cebu to Surigao
2 Rig Preparation & Set up
3 Drilling of PQ size pilot hole from 0-200
meters depth, including core recovery
4 Georesistivity logging of the hole for
aquifer identification/ well design
5 Reaming of hole to 200mm dia by tricone
6 Reaming of hole to 310 mm dia by tricone
7 Reaming of hole to 400 .. Dia by tricone
8 Installation of 300 mm dia BI casings &
stainless steel screens
9 Deflocculation of drilling mud by injection
of sodium hexametaphosphate
10 Installation of gravel pack,no.10
11 Well development by surging
12 Well development by jetting
13 Pump testing the well (using GRC pump)
14 Pedestal construction & site clean up
15 Rig demobilization - Surigao to Cebu
Sub Total (A)
(B) Labor component - 2nd , 3rd ,4th wells
Items 2 to 14

(C ) Materials (to be provided by GRC)

1 BI casings - 300mm x 6m, Sched 40
2 Stainless steel wedgewire wound screens
 3 Gravel pack/Screened pebbles, no. 10
4 Sodium hexametaphosphate
5 Portland Cement
6 Submersible pump assembly
7 Submersible pump controls, wires, pipes
8 Sand, screened and gravel for pedestal
(D) Others
1 GRC to provide power for lights,pump tests
welding jobs
2 GRC to provide security details, as needed
3 GRC to provide fuel,oil,greases free of charge
4 GRC to provide accomodation to drill crew
5 Drill sites must be made flat & accessible by GRC
Quantity Unit Unit Price Price Remarks

1 lump sum 345,000

1 60,000
200 meter 9,620 1,924,000

1 lump 80,000

250 meter 3,500 875,000

250 meter 3,500 875,000
250 meter 3,500 875,000
1 lump 250,000

1 lump 125,000

1 lump 100,000
24 hours 3,000 72,000
36 hours 3,000 108,000
72 hours 3,000 216,000
1 lump 60,000
1 lump 300,000
6,265,000

3 5,620,000 16,860,000
Total (A) &(B) 23,125,000
VAT 2,775,000
Total 25,900,000
estimated 65% of depth
estimated 35% of depth

Unit Price Price Remarks

520 meters
280 meters
1200 sacks
8 sacks
100 bags
4 sets
4 lot
12 cum
Subject: ADDITIONAL BOREHOLES
Materials Labor & Equipment
Item No. Description Qty UoM TOTAL COST
Unit Cost Amount Unit Cost Amount
-
1 MCC AREA 13,087,700.44 - - 13,204,101.20
2 OVERHEAD LINE EXTENSION 518,482.60 - - 518,482.60
3 LABOR - - - 381,544.78 381,544.78
4 LOGISTICS - - - - 300,000.00
5 VAT - - - - 1,646,710.06

6 TOTAL 1 LOT - - - - 16,050,838.63

Exch Rate: Peso to US$ 59
Quantity Unit Unit Cost (Php) Total
BOREHOLE REACTIVATION
SDB01
Pump Motor 1 pcs 1,152,611 1,152,611
6 inches B.I pipe riser schedule 80 20 pcs 25,000 500,000
6 inches coupling B.I pipe schedule 80 24 pcs 5,500 132,000
Wire Rope (3/4 inch) (3 length by 200 meters) 200 meters 1,125 225,000
Flow meter 1 pcs 75,000 75,000
Steel plate (3/4 inch) 1 pcs 38,000 38,000
Subtotal - SDB01 2,122,611
SDB04
Pump Motor 1 pcs 1,152,611 1,152,611
6 inches B.I pipe riser schedule 80 20 pcs 25,000 500,000
6 inches coupling B.I pipe schedule 80 24 pcs 5,500 132,000
Wire Rope (3/4 inch) (3 length by 200 meters) 200 meters 1,125 225,000
Flow meter 1 pcs 75,000 75,000
Steel plate (3/4 inch) 1 pcs 38,000 38,000
Subtotal - SDB04 2,122,611
SDB05
Pump Motor 1 pcs 1,152,611 1,152,611
5 inches B.I pipe riser schedule 80 20 pcs 22,500 450,000
5 inches coupling B.I pipe schedule 80 24 pcs 3,500 84,000
Wire Rope (3/4 inch) (3 length by 200 meters) 200 meters 1,125 225,000
Flow meter 1 pcs 75,000 75,000
Steel plate (3/4 inch) 1 pcs 38,000 38,000
Subtotal - SDB05 2,024,611
Electrical
MCC, VFD CONTROLLER, 2 UNITS 1 Assembly 2,245,140 2,245,140
ECB 1 Assembly 20,000 20,000
CABLE, 3C-125MM2 SUBMERSIBLE, 600V, 90C 810 meters 3,709 3,004,646
CABLE, 3C-1.25MM2 SUBMERSIBLE, 600V, 90C 810 meters 69 56,283
PVC Pipe, 4" 67 lgs 950 63,650
PVC Pipe, 2" 67 lgs 250 16,750
SPLICING KIT 3 sets 5,000 15,000
ACCESSORIES 1 Lot 15,000 15,000
LOGISTICS 1 Lot 50,000 50,000
SPLICING KIT 10,000
SPARE MOTOR, REWIND 977,500
SPARE VFD, 110KW 517,099
ACCESSORIES 10,000
LOGISTICS 50,000
Subtotal - Electrical 7,051,067
SURFACE PUMP
Additional Pumps -
Atlas Pump 2 unit 3,249,960 6,499,920
Secondary Diesel Pump 1 unit 9,459,463 9,459,463
 Emergency Spares 1,580,000
Subtotal - Additional Pumps 17,539,383
Electrical -
TRANSFORMER, 3000KVA 1 unit 4,500,000 4,500,000
MCC, VFD CONTROLLER, 1 UNITS 1 assembly 4,580,391 4,580,391
CABLE, 3C-250MM2 SUBMERSIBLE, 600V, 90C 400 meters 8,154 3,261,623
CABLE, 3C-1.25MM2 SUBMERSIBLE, 600V, 90C 200 meters 69 13,896
POWER CABLE, 50MM2 15KV 60 meters 1,000 60,000
OVERHEAD LINE 750 meters 2,000 1,500,000
ACCESSORIES 1 Lot 100,000 100,000
LOGISTICS 1 Lot 200,000 200,000
Reconditioning of Transformer, 3000KVA 307,714
Subtotal - Electrical 14,523,625
CAPEX TOTAL (Php) 45,383,908
COST SUMMARY
Borehole Reactivation
SDB01 2,122,611
SDB04 2,122,611
SDB05 2,024,611
Electrical 7,051,067
Subtotal (Php) 13,320,900
Surface Pumps
Atlas Pump 6,499,920
Secondary Diesel Pump 9,459,463
Emergency Spares 1,580,000
Electrical 14,523,625
Subtotal (Php) 32,063,008
Total [Excl VAT] 45,383,908
PHP Total [Incl VAT+Contingency] 53,099,173
USD Total [Incl VAT+Contingency] 899,986
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 REMARKS

1,152,611
500,000 Requires ~6-months
132,000 lead time; needs to
225,000 be on-site by March
75,000 2023
38,000

1,152,611
500,000 Requires ~6-months
132,000 lead time; needs to
225,000 be on-site by March
75,000 2023
38,000

1,152,611
450,000 Requires ~6-months
84,000 lead time; needs to
225,000 be on-site by March
75,000 2023
38,000

2,245,140
20,000
3,004,646
56,283
63,650
16,750
15,000 Requires ~4-months
lead time; needs to
15,000 be on-site by March
50,000 2023
10,000
977,500
517,099
10,000
50,000

Requires ~6-months
lead time; needs to
6,499,920 be on-site by March
2023
9,459,463
 790,000 790,000

4,500,000
4,580,391
3,261,623 Requires ~4-months
13,896 lead time; needs to
60,000 be on-site by March
1,500,000 2023
100,000
200,000
307,714

Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23

2,122,611
2,122,611
2,024,611
7,051,067

6,499,920
9,459,463
790,000 790,000
14,215,910 307,714

- 22,229,216 21,266,978 790,000 - 1,097,714

- 26,008,183 24,882,364 924,300 - 1,284,326
- 440,817 421,735 15,666 - 21,768