Business
Final Results For The Year Ended 31 December 2018
Final Results For The Year Ended 31 December 2018.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 5802A Metals Exploration PLC 30 May 2019 \n\nMETALS EXPLORATION PLC\nFINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018\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, announces its final audited results for the year ended 31 December 2018.\n \nHighlights\n \nOperational - Runruno Gold Project\n \n· 48,053 troy ounces contained in gold doré bullion produced for 2018 financial year; \n· BIOX® performing in a stable manner from mid-year 2018;\n· The BIOX® circuit achieved 100% of nameplate design throughput for short periods of time during Q1 2019;\n· Production in Q4 2018 of 13,435 ozs gold, a 30% increase on Q1 2018;\n· Overall gold recoveries from processing operations during 2018 were 57.9%, below the feasibility forecast of 91%; \n· Studies currently underway to determine the optimum process design changes required to extract the highest value from the existing mine plant investment;\n· No material health and safety incidents throughout the period; and,\n· The Residual Sediment Impoundment (\"RSI\") is operating to design with an excellent environmental performance.\n \nEnvironment and Community\n \n· The community interface arm of the Group, continues to maintain strong partnerships with various national agencies and local governments from Barangay to Provincial level;\n· The Group is primarily engaged in managing the implementation of identified and prioritised projects within the mandated Social Development and Management Programme; \n· The Group is responsible for planting almost two million endemic and cash crop trees during the year; \n· During 2018 the Group was the mining industry overall winner of the Philippine government Best Forestry Management Programme award; and\n· During 2019 there will be an upcoming requirement to relocate the illegal miners operating on the back of existing operations in Stage 3 and 4 of the mine plan.\n \nCorporate\n \n· &nbs...