Metals Exploration Plc · LSE:MTL
Metals Exploration — Shareholder Meeting (June 2017)
13 slides from Metals Exploration's shareholder meeting presentation, Jun 15, 2017
Slide 1: AGM Presentation
AGM Presentation 15 June 2017
Slide 2: Important Notice
IMPORTANT NOTICE This presentation has been prepared by the management of Metals Exploration Plc for the benefit of the investing community including, brokers, fund managers, investors and analysts and not for the benefit of any particular person. It should be read in conjunction with information pr
Slide 3: Metals Exploration - Overview
METALS EXPLORATION - OVERVIEW LSE - AIM code MTL Shares Issued 2,071,334,586 Market Capitalisation (13 June 2017) GBP 59.65 m Net debt (13 June 2017) US$ 85 m Forward sales 37,500 ozs Major Shareholders MTL Luxemburg 46.9% Runruno Holdings 19.0% Baker Steel 6.9% Ruffer 6.7% Nomad and Broker Canaccor
Slide 4: Runruno Gold Mine - Snapshot
RUNRUNO GOLD MINE - SNAPSHOT • Wholly owned Philippine gold mine • Commissioned in June 2016 • In ramp-up but behind schedule • Mine now at design, operating soundly • Process plant ramping up, BIOX® remaining circuit to achieve design • Infrastructure support – operating to design • Initial mine li
Slide 5: Runruno Gold Mine - Status
RUNRUNO GOLD MINE – STATUS • Targeting to achieve design during H2, 2017 • Mine operating at design levels • Processing plant ramp-up continuing: – recent disturbance in BIOX® plant set back ramp-up schedule – BIOX ® circuit reactivated and at 20% throughput – ramp-up ongoing – Balance of the proces
Slide 6: Year in Review
YEAR IN REVIEW • Challenging year of milestones and setbacks • First gold poured in June 2016 • 16,552 ozs produced to 31 March 2017, behind target • Internal and external factors delayed commissioning and ramp-up – Mill failure – Additional works required arising out of remediation of the impacts o
Slide 7: Funding
FUNDING • Slower than forecast ramp-up has caused cash constraints • Project facility rescheduled in December 2016 • Four share placements raised US$ 24 million applied to working capital • March principal payment deferred paid over 3 months April, May and June • Short term loan provided by major sh
Slide 8: Mining
MINING Mining Method • surface cut and fill operation • excavator and truck mining • limited blasting • owner mining • local contractor support • grade control by in-pit drilling Current Status • operating to design, +950,000 tonnes per month • permanent overflow waste dump to be developed 8
Slide 9: Processing
PROCESSING Processing Circuit: • BIOX® based circuit to recover gold from refractory sulphidic ores • Design recovery 91% • Throughput 4,800 tpd Current status: • Ramping-up • Throughput over design • Recovery approx. 45% of design • Crushing and grinding operating over design • Gravity at design •
Slide 10: Infrastructure
INFRASTRUCTURE Infrastructure operating to design; • Residual storage impoundment • Power • Camp • Road access 10
Slide 11: Environment
ENVIRONMENT International standard design • Surface cut and fill mining – waste to be placed in mine and rehabilitated • Three stage waste neutralisation incorporated in processing – chemically compliant within plant • Progressive rehabilitation practiced • Forest re-establishment – facilitated plan
Slide 12: Compliance
COMPLIANCE Compliant in a highly regulated jurisdiction • Permitting • Social programs • Environmental performance • International operating standards • Regular auditing by regulators on quarterly basis 12
Slide 13: OHS and Social Licence
OHS and SOCIAL LICENCE • Safe working culture with international standard performance • Zero harm environment practiced • Active engagement at all levels of government and community • Focus on sustainable development programs in: – Health – Education – Capacity building – Community development and e