PMEA Blog

Metals Exploration (AIM: MTL) has completed its feasibility study for the RunRuno gold-molybdenum project in the Philippines, confirming the project’s viability with average production of 96,700oz gold per annum for a ten-year mine life. Additionally, the company classified 780,000oz gold as Proven and Probable Mining Reserves.

“Completion of the feasibility study together with the declaration, for the first time, of an independently verified Mining Reserve (as opposed to a Mineral Resource) provides investors with a definitive basis on which to assess an appropriate valuation for the company”, Metals Exploration MD Jonathan Beardsworth commented.

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