Metals Exploration's conviction to focus attention on the multi-million ounce Runruno gold-molybdenum project in the Philippines, continued to be vindicated

Getting down to the nitty-gritty, a concept study, the results of which were announced in April, envisaged a mining operation at Runruno producing 190,000-210,000 ounces of gold per annum, with perhaps an additional 1.8-2.1 million pounds per annum of molybdenum

Phase I of the scoping study is complete, concluding that ?even on a stand-alone gold basis, the project is robust in any realistic forward looking gold price environment. And then there?s the molybdenum?

No one, including yours truly, is suggesting that Runruno is a 23 million ounce deposit, but the similarities with Cripple Creek are intriguing. The key, however, is that once Metals Exploration had sussed out the geology, the characteristics of the project changed, and so too did the drilling logic.