Metals Exploration PLC Operations Update (7150T)
July 05 2018 - 4:19AM
UK Regulatory
TIDMMTL
RNS Number : 7150T
Metals Exploration PLC
05 July 2018
5 July 2018
METALS EXPLORATION PLC
Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the
"Company"), the natural resources exploration and development
company with assets in the Pacific Rim region.
Operations Update
The Company announces that the Runruno gold mining operation is
experiencing challenges with its BIOX circuit.
After having achieved 100% of design throughput early in Q2
2018, the BIOX circuit operated resiliently at and about these
levels, demonstrating the capacity of the circuit. However,
following an extended period of power "brown outs" and distribution
disruptions during the unusually long hot and dry period, the
circuit has passivated and throughput is now minimal.
The Company had anticipated such issues and was in the process
of installing additional power supply circuitry in addition to that
previously installed; to better secure a more reliable power supply
to the BIOX support systems. Unfortunately due to supply related
issues and operating approvals timing, not all of the circuitry was
available at the time when distribution disruptions were
experienced. All of the circuitry and equipment has since been
successfully installed and is operational.
On the basis of previous experience the circuit is being managed
to re-activate it and re-establish its demonstrated production
capabilities.
The Company will release a quarterly operations update before
the end of the month.
For further information please visit or contact
www.metalsexploration.com
Ian R. Holzberger (Executive Chairman) +63 (0) 9189 795 992
+61 (0) 418 886 165
Liam A. Ruddy (Company Secretary) +44 (0) 7911 719 960
Andrew Rodgers (Chief Financial Officer) +61 (0) 412 429 856
Nominated Adviser and Broker: CANACCORD GENUITY LIMITED
Martin Davison, James Asensio +44 (0) 207 523 4689
Public Relations: TAVISTOCK
Barnaby Hayward, Jos Simson +44 (0) 207 920 3150
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDVELBBVDFFBBQ
(END) Dow Jones Newswires
July 05, 2018 04:19 ET (08:19 GMT)
Metals Exploration (LSE:MTL)
Historical Stock Chart
From Apr 2024 to May 2024
Metals Exploration (LSE:MTL)
Historical Stock Chart
From May 2023 to May 2024