History
2025
- 17 January 2025: Initial Estimates from La India Internal Studies.
- 15 January 2025: Completion of the Condor Takeover.
2024
- 4 December 2024: Recommended Offer to Acquire for Condor Gold plc issued.
- 28 August 2024: Completion of YMC Acquisition.
- 23 May 2024: 2023 full year results recording an operating profit of US$29.2 million.
- 27 March 2024: Repayment of group debt completed.
- 18 March 2024: Appointment of new chairman.
- 24 January 2024: Record annual gold revenue of US$166.7 million from a record 85,744 ounces of gold sold.
2023
- 16 May 2023: 2022 full year results recording an operating profit of US$23.8 million.
- 31 January 2023: Unaudited 2022 results show $124.4 million revenue from sales of 69,249 ounces.
2022
- 29 July 2022: Completion of capital re-organisation.
- 16 May 2022: 2021 full year results recording an operating profit of US$29.4 million.
- 14 February 2022: Updated Mineral Resource and Ore Reserve Statement Issued.
- 21 January 2022: Unaudited 2021 results show record revenue of US$129.8million and record gold recovery for the year of 84.5%, an increase of 16%.
2021
- 21 May 2021: 2020 full year results recording a 340% increase in operating profit to US$30.46 million.
- 22 April 2021: Appointment of three new Non-Executive Directors, including an Independent Non-Executive Chairman.
2020
- 26th October 2020: The Company’s shares recommenced trading upon AIM.
- 24th October 2020: Completed the restructuring of its existing loan facilities and replaced it with new Senior Facility, new Mezzanine Facilities, and the Revolving Credit Facility.
- 11th September 2020 (first profit announced): The year ended 2019, was the first year in the mines operation that the Company was able to record an operating profit since the first commencement of gold production.
- 28th April 2020: Updated Mineral Resource and Ore Reserve Statement Issued.
- 30th January 2020: The bank Runruno Facility was acquired by MTL Guernsey and Runruno Holdings Ltd.
2019
- 31st March 2019: The Company’s lenders – HSBC and BNP Paribas, and its major shareholders – MTL Luxembourg SARL and Runruno Holdings Ltd, as holders of its mezzanine debt, entered into a Standstill Agreement, thereby relieving the Company of making both principal and interest payments due in relation to its Runruno Facility Agreement and the Mezzanine Debt Facilities.
- January 2019: New highly experienced management team appointed to turnaround underperforming operations.
2011-2018
- The Company worked for acquiring all the necessary permits and permissions and advanced the Runruno gold project to production in 2016. The Company also achieved its first gold sale.
2005-2007
- MTL acquired 100% equity in the Runruno project, Nueva Vizcaya.
2004
- Metals Exploration founded in April 2004 and was admitted to AIM on the London Stock Exchange on 22nd October. Also, it acquired a 70% stake in Masapelid, Mindanao.
