Business
Final Results For The Year Ended 31 December 2016
Final Results For The Year Ended 31 December 2016.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 7191F Metals Exploration PLC 22 May 2017 \n\nMETALS EXPLORATION PLC\n \nFINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016\n \nMetals Exploration plc (AIM: MTL) (the \"Company\" or the \"Group\"), the natural resources exploration and development company with assets in the Pacific Rim region, is pleased to announce its final audited results for the year ended 31 December 2016.\n \nHighlights\n \nOperational - Runruno Gold Project\n \n· First gold pour milestone achieved June 2016 with first gold sale in November 2016;\n· Issue of regular export permits enabled multiple gold sales since first sale;\n· 16,552 troy ounces contained in gold doré bullion produced as to the end of March 2017;\n· Ore commissioning and debugging of processing plant and associated operations commenced in May 2016; \n· Plant availability at expected levels since November 2016;\n· Ore processing and gold recoveries continuing to ramp-up to design following interruptions caused by external and internal factors;\n· Mining operation is achieving design production rates after a period when it was negatively impacted by external factors which caused an insufficiency of good quality waste storage areas during the recent wet period; \n· Average number of personnel and full-time workforce numbers during the period was 664, with a further 300 employed by the Project's site based contractors; \n· No material health and safety incidents experienced throughout the reporting period; and\n· Project expected to achieve design during H2 2017.\n \nEnvironment and Community\n \n· Successfully maintained high environmental compliance standards;\n· Implementation of industry leading initiatives to ensure the highest environment performance; \n· Through various programs, 1.73 million endemic and cash-crop trees have been planted which is well in excess of its obligations; and\n· Implemented, identified and prioritised successful community projects and programs across health, edu...