Share Prices & Company Research

Market News

24 Apr 2019 | 09:22

Metals Exploration operations in Philippines hit by funding constraints

Metals Exploration said key maintenance programmes at its Runruno gold mine in the Philippines had not yet commenced due to working capital constraints.

Orders had been placed, however, to begin mobile equipment rebuilds in the second quarter of 2019.

The company said discussions with its lenders were ongoing to restructure its debt.

In the meantime, a standstill agreement would apply. allowing the company to not make any interest or principal repayments until 2 May.

Metals Exploration said 15,293 ounces of gold were sold from Runruno during the March quarter, at an average realised gold price of $1,309 per ounce.

At 9:22am: (LON:MTL) Metals Exploration PLC share price was -0.28p at 0.8p

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.