Business
Quarterly Update To 30 September 2017
Quarterly Update To 30 September 2017.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 0046U Metals Exploration PLC 19 October 2017 \n\nMETALS EXPLORATION PLC\n \nQUARTERLY UPDATE TO 30 SEPTEMBER 2017\n \nMetals Exploration plc (AIM: MTL) (\"Metals Exploration\" or \"the Company\"), the natural resources exploration and development company with assets in the Pacific Rim region, today provides a quarterly update on matters relating to the construction and development of its Runruno gold-molybdenum project (the \"Project\") in the Philippines.\n \nThe overall project performance has improved but gold production levels remain hampered by the ongoing suboptimal performance of the processing facilities. Since the update provided to the market on 29 September 2017, the BIOX® circuit has recovered satisfactorily and is being ramped up having achieved 27.5% of design throughput at the date of this report. As previously announced the Company has finalised a $21m mezzanine funding facility to be used for its immediate working capital requirements and to repay recent short term loans. \n \n\n\n\n\nAIM Code: MTL\nAt: 19 Oct 2017\nShares in Issue: 2,071,334,586\nWarrants: 100,000,000\n \nDirectors:\nIan Holzberger, Executive Chairman\nTimothy Dean\nGuy Walker\nJulian Wilson\nEduard Simovici\n \nManagement:\nIan Holzberger, Executive Chairman\nLiam Ruddy, Company Secretary \nAndrew Rodgers, CFO\nPeter Storey, GM Operations\nIan Moller, GM Runruno Project\nRoland Taganas, Legal Counsel\nTommy Alfonso, Financial Controller\n \nFor further Information please contact:\n \nMetals Exploration plc\nIan Holzberger: +61 41 888 6165\nLiam Ruddy; +44 7911 719 960\nAndrew Rodgers; +61 412 429 856\n \nNominated Adviser & Broker:\nCanaccord Genuity Limited\nMartin Davison; James Asensio\n\n\n\n\n+44 (0) 207 523 4689 \n \n \n\n\n\n\n\n\n\nPublic Relations:\nTavistock\nJos Simson; Barnaby Hayward\n+44(0) 207 920 3150\n\n\n\n\n \n \n\n\n\n\n\n\n\n\n\n\nSummary:\n \nMining Operations\n \n· Mining operations continue to perform well at design forecast levels.\n· The site magazine ...