Metals Exploration PLC (AIM:MTL) shares traded lower on Friday after announcing revised its full-year gold production guidance, down to 65,000–70,000 ounces, amid operational disruption at its Runruno mine in the Philippines.
The site was impacted by Super-typhoon Uwan on 9 November, which caused damage to infrastructure and a temporary loss of grid power.
The company said mining resumed on 11 November and that there were no injuries among staff or contractors.
Cleanup works are well advanced, and mains power is expected to be restored within days, allowing processing operations to resume.
"While it is disappointing to revise our annual production guidance downwards, our focus for the rest of the year will be on maximising value generation from our mining and processing operations at Runruno," said chief executive Darren Bowden.
In London, Metals Exploration shares fell 4% to 12p, and earlier traded as low as 11.5p.