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Metals Exploration is a natural resources exploration and development company operating in the Pacific Rim, with particular focus on the Philippines.


The Company’s principle asset is the Runruno Gold-Molybdenum Project on the island of Luzon in the northern Philippines. The Company acquired the project in February 2005 and recently increased its interest in the project to 100%.


Work to date has defined a resource of 1.39 million ounces (Moz) of gold, and 25.6 million pounds (Mlb) of molybdenum with 1,050,000oz gold reporting to the Measured and Indicated categories and 900,000oz gold within the Mining Proven & Probable Reserve category.


+44 (0)207 869 5109
18th Floor, Portland House, Bressenden Place, London SW1E 5RS.
Super Sector:
General Mining - Gold
General Mining
EPIC / Symbols:
*subject to change and depends on individual circumstances.

Metals Exploration RNS Press Releases

  • Page 1 of 63

Metals Exploration Articles, News, and Media Files

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Metals Exploration Related Media

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Broker press

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  • 25/10/11
    +0.00 +13.38

    Fairfax initiates Metals Exploration as a buy, target price 30p.

  • 12/01/09
    +2.13 +9.88

    the company raises 3.7 million pounds ($5.5 million) in a share placement to help it advance a gold-molybdenum project in the... read more

  • 14/10/08
    +3.12 +10.25

    shares rose after it upgrades its Runruno gold-molybdenum deposit in the Phlippines. The AIM-listed company says 756,000 ounces of gold... read more

  • 05/06/08
    +0.00 +23.50

    an article in the Times reports: Metals Exploration was unchanged at 23.25p on word it is close to winning two more exploration permits close to its Philippines site.

  • 07/12/07
    +0.25 +30.00

    IC says Buy (30.25p): BULL POINTS Strong management - Sizeable gold and molybdenum resource - Rerating likely BEAR POINTS Mixed track record - Political... read more

Director dealings

  • Page 1 of 1
Date Director Trans Amount Type Price(p) Value (£) Holding %
17/08/07 J. Pearson BUY 20,000 ORD 35.00 7,000 30,000 0.03
02/04/07 J. Beardsworth BUY 250,000 ORD 29.00 72,500 250,000 0.32
27/07/06 K. Mahoney EX 500,000 WTS 3.25 16,250 0,000 N/A
31/10/05 G. Powell BUY 1,000,000 ORD 12.50 125,000 1,000,000 2.12


  • Page 1 of 4
Date Type Turnover Profit EPS (p) Dividend (p) Currency
30/06/14 Interim 0.00 -6.49 -0.40 0.00 GBX
31/12/13 Full year 0.00 -5.24 -0.49 0.00 GBX
30/06/13 Interim 0.00 -2.45 -0.28 0.00 GBX
31/12/12 Full year 0.00 -4.37 -0.60 0.00 GBX
30/06/12 Interim 0.00 -1.55 -0.23 0.00 GBX

Presentations & Company Media

Company Statement


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.


Current Operations



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



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.



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.



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. 


Ian Holzberger - Executive Chairman
Ian has over 35 years experience in the mining industry, which encompasses a wide range of management, operational, mine development and feasibility study roles. Ian was Managing Director of Highlands Pacific Limited from 1997 to 2007, where he implemented the feasibility study on the Ramu nickel laterite project, and subsequent sale of a majority interest in the project to a major Chinese corporation. He was also responsible for the feasibility study, development, financing, construction and commissioning of the Kainantu gold mine in PNG. Ian has extensive experience in the implementation of major project feasibility studies, equity raising, investor relations, debt financing, working with traditional societies, Government negotiations and all aspects of project development. He is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

Tim Dean – Non Executive Director
Tim joined the Board as a Non-Executive Director following the January placing to Solomon Capital. Mr. Dean is a Director of Solomon Capital Limited, an Associate of the Institute of Chartered Accountants in England and Wales and has a Masters Degree in Engineering Science from Oxford University.

Edward Parsons – Non Executive Director
Ed joined the Board as a Non-Executive Director on 4th April 2011. He represents the Company’s major shareholder Solomon Capital Limited.

Guy Walker – Non Executive Director
Guy joined the Board as a Non-Executive Director on 9th May 2011.  He represents the Company’s significant shareholder Runruno Holdings Limited.

Christopher Whitehouse – Non Executive Director
Christopher joined the Board as a Non-Executive Director on 31 August 2012. He is nominated by the Company's major shareholder Solomon Capital Limited.

Major Shareholders


Information taken from Company websit 08/10/2012

  • Additional Information
    Share Price
    1,374.97 m
    Avg. Vol
    Mkt Cap
    £73.97 m
  • Latest Stocktube

    Metals Exploration boss explains slight delays at Runruno

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  • Contact Information

    Registered Office

    200 Strand London WC2R IDJ
    Tel: (+44 20) 7539 7272

    United Kingdom

    18th Floor
    Portland House
    Bressenden Place
    SW1E 5RS
    United Kingdom

    Phone: +44 (0) 207 869 5109 
    Fax: +44 (0) 207 869 8129


    22nd Floor, Salcedo Towers,
    169 H.V. Dela Costa Street, 
    Salcedo Village, Makati City 1227,
    Metro Manila, Philippines.
    Phone: +63 (0) 2 659 5662
    Fax: +63 (0) 2 846 8507







    Corporate Information

    Nominated Adviser:

    Westhouse Securities Limited

    One Angel Court, 


    EC2R 7HJ

     +44 (0) 207 601 6100




    Kerman & Co

    200 Strand 

    London WC2R 1DJ 

    Tel  +44 (0)20 7539 7272 




    Nexia Smith & Williamson 

    25 Moorgate 


    EC2R 6AY 

    Tel:  020 7131 4000 



    Public Investor Relations:

    Tavistock Communications

    131 Finsbury Pavement


    EC2A 1NT

    Tel:  +44 (0) 20 7920 3150




    Capita Registrars

    4th Floor, Beaufort House 

    15 St Botolph Street 


    EC3A 7HH 

    Tel:  +44 (0) 20 7556 8800 





    46 Berkley Square


    London  W1J 5AT

    United Kingdom

    Tel: 020 7598 5368


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