About Metals Exploration

Metals Exploration Plc is a mineral resources exploration and development company. It is the 100% owner of the Runruno Gold Project located in the Northern Philippines. It is listed on the Alternative Investment Market (AIM) of the London Stock Exchange with ticker identity MTL.
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Runruno Gold Project

Runruno is located in the mineral rich province of Nueva Viscaya. The area has been known to be prospective in gold and other precious metals since the early 1960s. Nueva Vizcaya is a landlocked province located on the island of Luzon, which is the largest and most populous island in the Philippines. The project lies immediately downstream from the village of Runruno.

The mine has been in production since 2016 and is currently the fourth largest operating gold mine in the Philippines with the last few years seeing a significant turnaround in the operational performance of the plant and the mine overall.

Runruno contains gold reserves of 9.94Mt with an average gold grade of 1.35g/t and forecast gold production for 2022 between 67,000-71,000 oz/pa.

At a glance

Metals Exploration owns and operates the low cost Runruno Gold Mine in the mineral rich province of Nueva Vizcaya, Philippines, which it developed from greenfield to production.

9.94Mt

Runruno gold reserves total 9.94Mt at 1.35 g/t , or 430,000 ounces at a 0.53g/t cut-off

98%

Fully permitted, world class environmental standards, 98% Filipino workforce of which 27% are female.

US$300m

US$300m invested to date.

US$130m

FY2021 revenue of US$130m.

Environment and social sustainability

Runruno has been producing gold without any community or government enforced stoppages since 2016 which illustrates the strong local relationships which Metals Exploration has built over the years in region. 98% of the workforce at the mine are Filipinos with 27% of the workforce being women, many as higher paid supervisors and equipment operators. Prior to Runruno, the region had no formal employment sector, and thus the mine operation has significantly increased the average standard of living in the region. Runruno’s environmental performance has been recognised with numerous awards. Most recently during 2020, Metals Exploration was the mining industry overall winner of the Philippine government Best Forestry Management Programme award.

Employment
High levels of local employment in Barangay which previously had no formal employment sector

Economy
1.5% of direct mining and processing operating costs committed annually to Community Relations office

Health and education
Improved health and educational outcomes via health initiatives and learning programmes

Infrastructure
Development of community facilities including bridges, electricity provision and water distribution

Environment
Award winning mine rehabilitation and impact mitigation programmes