Metals Exploration

• 

  10/05/13

  Metals Exploration launches open offer to raise up to €4.5 mln

• 

  29/04/13

  Metals Exploration set to reveal real value of Runruno

  The past month has been one of huge progress for Metals Exploration and its Runruno gold project in the Philippines.

• 

  08/04/13

  Update: Metals Exploration making progress with Runruno construction

• 

  26/03/13

  Metals Exploration shares lifted as Runruno plans advance with US$57.7 mln financing

  Metals Exploration shares were lifted over 23% as its plans for its flagship Runruno gold project took a step forward with a US$57.7 million financing.

• 

  12/11/12

  Metals Exploration should get strong support to fight writ, says broker

• 

  09/11/12

  Metals Exploration says Philippines writ will be vigorously defended

• 

  27/09/12

  Metals Exploration focused on the development of flagship gold project

• 

  31/07/12

  Metals Exploration shares up after confirming equity and debt financing for Runruno project

  Shares rose after the group released details of a funding package it flagged just over two months ago which would finance the construction of the Runruno gold-molybdenum mine in the Philippines. It has commitments from existing shareholders to raise US25 million in a share issue and has agreed a US$105 million loan with Solomon Capital.

• 

  31/07/12

  Metals Exploration confirms US$130 mln equity and debt financing for Runruno gold-molybdenum project

• 

  26/07/12

  Fairfax says funding confirmation could trigger re-rating for Metals Exploration

  Broker Fairfax today repeated its 'buy' recommendation with a bullish target price of 35 pence per share for Metals Exploration following an operational update from its Runruno gold-molybdenum project.

• 

  23/04/2013

  Stocktube video - Metals Exploration set to push button on major development

  Ian Holzberger, Executive Chairman of Metals Exploration, explains why his firm is on the cusp of realising the value of the work that has been put into the Runruno gold project, in the northern Philippines.

• 

  10/05/13

  Footsie ends week strongly with BT in the top spot
• 

  10/05/13

  Proactive news summary including Churchill Mining, Tangiers Petroleum and Metals Exploration
• 

  08/04/13

  FTSE 100 breaks losing streak
• 

  08/04/13

  Proactive News Summary, including Xcite Energy, Tantalus, Metals Exploration, Landore, Gemfields
• 

  08/04/13

  Broker Round-up part 2: Hummingbird Resources, Xcite Energy, Landore Resources, Ortac Resources, Metals Exploration

About Metals Exploration

• Metals Exploration`s management strategy and corporate plan is to:
• Provide shareholders with high capital growth potential, delivered by developing a mineral project into a world class mine.
• Undertake cost-effective and precise exploration on those targets most likely to deliver real shareholder wealth.
• Respect the indigenous culture of the exploration areas and to promote social and economic development for the traditional custodians.
• Maintain a "queue" of projects ranging from grass-roots exploration to advanced resource projects requiring definitive feasibility studies.
• Manage the inherent value of its portfolio by advancing short-term projects, joint venturing long-term projects requiring significant development capital, or by selling off those assets which deliver immediate value to the shareholders.
• Use financial modelling to ensure that the targets being sought are of the style to deliver a low-cost position on the production-cost curve.
• Conduct operations in a safe and environmentally responsible manner to industry best practise standards.
• Offer employment opportunities to those who live in the exploration project areas.

Runruno

Runruno is located 200 miles north of Manila in the mineral rich province of Nueva Viscaya. The area has been known to be abundant in gold and other precious metals since the early 1960s and has enjoyed a varied exploration history.

Metals Exploration first became involved with the Runruno deposit in 2005 and has undertaken extensive scientific and geological surveys since, with extremely encouraging results. In May 2010 the Company announced the results of the Runruno project Feasibility Study which confirmed the viability of the project, projecting average production of 96,700oz of gold per annum over a mine life of 10.4 years, at an average forecast operating cost $477/oz gold before any molybdenum credits. The capital cost is forecast to be US$149.3 million, with payback within 3.5 years at US$1,000/oz gold. The Runruno project will be an open pit operation, and will use the proven BIOX® and carbon in leach processes to recover gold and molybdenum.

Work to date has defined a resource of 1.42 million ounces (Moz) of gold, and 25.6 million pounds (Mlb) of molybdenum with 900,000oz gold reporting to the Measured and Indicated categories and 780,000oz gold within the Mining Proven & Probable Reserve category.

The deposit is located within a large alkaline volcanic complex, approximately 3.5 kilometres in diameter, of which less than 15% has been effectively explored presenting substantial exploration upside.

Other projects

Dupax

The Dupax EPA comprises two separate blocks – Dupax (5,042 hectares) and Solano (3,814 hectares) – totaling some 8,856 hectares in area. The EPA is located in Nueva Vizcaya Province, some 200km north of Manila.The Dupax block contains a previously identified and partially open pit mined zinc-copper-gold massive sulphide deposit. 

Previous work focused on defining a restricted lens of high-grade, direct shipping massive sulphide zinc-copper ore which was partially mined out by open pit methods (ca 1960/70s). Previous production records are currently unknown.

Gossans and manganese mineralisation occurs along strike of the main fault structure and show potential for additional massive sulphide deposits in the area. Geological logs of tunnels excavated during the 1960s(?) describe a weathered and oxidized profile of 12 meters thickness, which would make surface prospecting for massive sulphides more difficult. Gossanous material at surface is the best indicator of sulphide mineralisation at depth.

The Dupax block is a poorly explored area which hosts economic grades of massive sulphide Zinc-Copper-Gold mineralization. There appears to be an obvious structural control on the mineralization.Little is known about the Solano block. Once the EPA has been granted, the Company intends to carry out detailed geological mapping, soil geochemistry, followed by geophysical surveys to determine favourable areas for drill testing.

Sulong

The Sulong EPA covers some 6,963 hectares in area and is situated to the east of Solano, Nueva Vizcaya Province, approximately 220km north of Manila.

The area has previously been mined for manganese (ca 1970s) which, is interpreted as being the oxidised portion of an extensive vein-fault system, although there is little evidence of shipment of manganese ore.

The Company believes that the area comprises a large gold-bearing vein-fault system and potential for porphyry copper mineralisation. Once the EPA has been granted, the Company intends to carry out detailed geological mapping, soil geochemistry and geophysical surveys to determine favourable areas for drill testing.

Waigeo

Historical drilling in the 1970`s identified nickel laterite deposits of some 35Mt at grades of 1.5% Ni, 0.13% Co and 37% Fe within the area.

The Company believes there is potential to develop a sustainable short and medium term nickel operation in Waigeo. 

Information taken from Company websit 08/10/2012