Business
New CEO/Runruno Update
New CEO/Runruno Update.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n Metals Exploration PLC\n22 September 2006\n\n\n\n Metals Exploration Plc\n ('Metals Ex' or 'the Company')\n Chief Executive Officer Assumes Responsibilities\n Update on Runruno\n\n\n22 September 2006\n\n\nMetals Exploration Plc is pleased to announce, further to the announcement on 6\nJuly 2006, that Jonathan Beardsworth has assumed his duties on 4 September 2006\nas Chief Executive Officer of the Company.\n\nJonathan has just returned from the Philippines, meeting the Company's personnel\nand management and being briefed on progress on the Company's projects, in\nparticular Runruno on which the Company has a right to an 85% ownership\ninterest.\n\nThe Company is confident that Jonathan's experience of mining and corporate\nfinance in emerging markets will make a major contribution to the continued\nsuccess of the Company's strategy.\n\n\nUpdate on Runruno:\n\nOn 11 May 2006, the Company announced a JORC compliant Inferred Mineral Resource\nat Runruno totaling an estimated 23 million tonnes at an average grade of 2.3 g/\nt gold and 0.07% molybdenum, giving a total contained resource of 1.7 million\nounces of gold and 34 million pounds (15.4 kt) of molybdenum.\n\nThe resource estimate is classified as an Inferred Mineral Resource as defined\nby the JORC Code, the Australasian Code for Reporting of Identified Mineral\nResources and Ore Reserves.\n\nSince the last drilling report on the 7th August, a further 18 drill holes have\nbeen drilled and 3 more are in progress at Runruno. The Company expects to\nannounce by mid November an updated resource statement for Runruno.\n\nThere are no other requirements of AIM Rule Schedule 2(g) that fall to be\ndisclosed.\n\n\nQualified/competent persons\n\nGary Powell (a Director of the Company) has been involved in the mining and\nexploration industry for more than 20 years. He has a Bachelor of Applied\nScience degree in geology and is a member of the Australasian Institute of\nMining and Metallurgy and the Australasian Institute of Geoscientists. He has\ncompiled, read and approved the technical disclosure in this regulatory\nannouncement.\n\n\n\nEnquiries:\n\nSteven Smith Chairman +44 (0) 7797 721 858\nJonathan Beardsworth Chief Executive +44(0)7747101552\nJonathan Anderson Investor Relations +44 (0) 7950 410 680 or\n +63 (0) 917 560 6654\n\nNomad/Broker\nChris Rollason/ Adrian Hadden (Co...