Slide 1: Philippine Gold Producer - Investor Presentation May 2021
PHILIPPINE GOLD PRODUCER - INVESTOR PRESENTATION MAY 2021
Slide 2: Disclaimer
DISCLAIMER This presentation (“Presentation”) has been prepared by the management of Metals Exploration Plc (“Company”) and delivered for information purposes only to a limited number of persons and companies who are persons who have professional experience in matters relating to investments and who
Slide 3: Introduction
INTRODUCTION MTL owns and operates the Runruno Gold Mine in the mineral rich province of Nueva Vizcaya, Philippines, which it developed from greenfield to production • Runruno contains gold reserves of 11.7Mt with an average grade of 1.38g/t • Fully permitted, highest environmental standards, 98% Fi
Slide 4: Delivering on Our Strategy
DELIVERING ON OUR STRATEGY • Exceptional safety record – with over 13 million man-hours 13 million man-hours without a reportable injury (31 March 2021) without a reportable injury • Recently awarded Safest Surface Mining Operation and Safest as at 31 March 2021 Overall Mining Operation by the Mines
Slide 5: 2020 Successful Debt Restructuring
2020 SUCCESSFUL DEBT RESTRUCTURING • Metals Exploration successfully restructured approx. US$130 Shareholders million Senior and Mezzanine project finance. In October 2020 Project finance converted to operational cash sweep Market # Institution % holding value (£m) finance with no fixed repayment sc
Slide 6: Executive Team
EXECUTIVE TEAM Darren Bowden – Chief Executive Officer Michael Langoulant – Chief Financial Officer Appointed to MTL in January 2019. Darren is a Mining Joined MTL in February 2019. Michael is a Chartered Executive with 25 years' experience building and developing Accountant who specialises in provi
Slide 7: Philippines
PHILIPPINES Mining sector in the Philippines Tax & Royalty • The Philippines is a leading producer of nickel, a significant • Company has an income tax holiday until July 2022. From July producer of gold and copper, exports some iron ore, chromium, 2022 mining license terms entitles Philippine gover
Slide 8: Runruno
RUNRUNO A high potential gold mine Metals Exploration: Investor Presentation May 2021 8
Slide 9: Runruno – Overview
RUNRUNO – OVERVIEW Runruno is located in the mineral rich province of Nueva Viscaya. The area has been known to BATCH PLANT & ACCOMMODATION be prospective for gold and other precious metals since the early 1960s and has enjoyed a varied exploration history. MINE OFFICE & WORKSHOP PROCESS PLANT • Met
Slide 10: Operational Enhancements Deliver Record Production
OPERATIONAL ENHANCEMENTS DELIVER RECORD PRODUCTION Quarterly Gold Production 25,000 20,000 15,000 10,000 5,000 - Metals Exploration: Investor Presentation May 2021 10
Slide 11: Critical Actions Undertaken by New Management Team
CRITICAL ACTIONS UNDERTAKEN BY NEW MANAGEMENT TEAM Mine A significant body of work was done to review and complete a detailed new mine design including: • Pit and shell designs for each stage to LOM • Ramp and access designs • Backfill design • Mine schedule and integrated equipment modelling to ens
Slide 12: Mining Operations
MINING OPERATIONS Mining schedule optimised Metals Exploration: Investor Presentation May 2021 12
Slide 13: Mine Site Layout & Sequencing
MINE SITE LAYOUT & SEQUENCING Overview • LOM strategy is to mine 2 stages contiguously • 2021 will focus on mining Stage 1 and Stage 2 – Stage 3 preparation commenced • Backfill of pit shell to commence Q4 2021 • Removal of illegal miners c.85% complete. Full access to stages 3-5 to be achieved by Q
Slide 14: Process Operations – Significant Improvements Achieved
PROCESS OPERATIONS – SIGNIFICANT IMPROVEMENTS ACHIEVED Highlights • Critical process issues in flotation solved – steady state operations achieved • Plant milling operations have ramped to 120% of design. Target to achieve 2.1Mpta throughput vs Design 1.75Mtpa • The ore reserve estimate proving to b
Slide 15: Exploration
EXPLORATION • Significant known exploration upside. To date very little resources have been allocated to any exploration • Exploration focused on generating new targets • Step-out broad-based exploration conducted previously which supported the Malilibeg South resource estimate • Identification of R
Slide 16: Processing
PROCESSING Operations stable – higher gold recoveries Metals Exploration: Investor Presentation May 2021 16
Slide 17: Production Profile with Target 85% Long Term Recovery
PRODUCTION PROFILE WITH TARGET 85% LONG TERM RECOVERY 80000 1.8 47.9% 57.9% 70.8% 72.2% 81.9% 70000 1.6 1.4 60000 1.2 50000 1 40000 0.8 30000 0.6 20000 0.4 10000 0.2 0 0 2017 2018 2019 2020 Q1 2021 Gold Poured (Ozs) Gold Grade (g/t) Recovery (%) Source: Company projections as of 31 March 2021 Note:
Slide 18: Mill Throughput & Au Recovery
MILL THROUGHPUT & AU RECOVERY 300 Mill Throughput, tph 250 200 150 100 50 0 Metals Exploration: Investor Presentation May 2021 18
Slide 19: ESG
ESG Metals Exploration: Investor Presentation May 2021 19
Slide 20: Safety, Health & Environment
SAFETY, HEALTH & ENVIRONMENT • Exceptional safety record – with over 13 million-man hours without a reportable injury as at 31 March 2021 • Recently awarded by the Mines and Geoscience Bureau: • Safest Surface Mining Operation • Overall Safest Mining Operation • Best Mine Supervisor- Engr. Lester Ma
Slide 21: Community & Social Development
COMMUNITY & SOCIAL DEVELOPMENT • Prioritise the development of our local community and have a strong partnership with the national agencies and local governments from Barangay to Provincial level • Continued focus on health, education and capacity building amongst others in our local communities • H
Slide 22: In Summary
IN SUMMARY Metals Exploration: Investor Presentation May 2021 22
Slide 23: Why Metals Exploration
WHY METALS EXPLORATION • High potential mining operation invigorated by recent operational enhancements • Long track record operating in the Philippines • Forecast gold production range for 2021 of between 64,000 – 69,000 oz • All-in sustaining cost of approx. US$1,275/oz (includes UK head office co
Slide 24: Appendix
APPENDIX Metals Exploration: Investor Presentation May 2021 24
Slide 25: Board of Directors
David Cather – Non-Executive Director Darren Bowden – Chief Executive Officer Andrew Stancliffe – Non-Executive Director David is a well-rounded mining engineer who Mining Executive with 25 years' experience Andrew has 20 years of experience working brings over 40 years of mining and building and de
Slide 26: Board of Directors
Guy Walker – Non-Executive Director Jeremy Wrathall – Non-Executive Director Andrew Chubb – Non-Executive Director Guy joined the Board as a Non-Executive Jeremy initially trained as a mining engineer Currently a Partner and Head of Mining at Director on 9th May 2011. Guy is a highly at the world-re
Slide 27: Contact
To request additional information or ask any questions, please email us at info@metalsexploration.com www.metalsexploration.com