Regulatory Story

Go to market news section

Metals Exploration PLC - MTL Released 07:33 29-Nov-2016

First Gold Sale, Debt Rescheduling, Ramp Up

RNS Number : 3996Q Metals Exploration PLC 29 November 2016

29 November 2016

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. First Gold Sale, Debt Rescheduling, Ramp Up

Metals Exploration is pleased to announce that it has successfully achieved its first gold sale, after gold doré produced during commissioning activities was uplifted from its Project site for refining. This marks a major milestone in the Project's development.

Mining and processing operations are ramping up soundly. Each of the individual processes within the plant have been successfully commissioned and are being ramped up progressively to design throughputs.

Work on the documentation to finalise a rescheduling of the debt facility is nearing completion and it is planned that the rescheduled facility agreement will be signed before the end of 2016. A further waiver has been obtained from the lenders to delay the principal sum of US $15.0 million,

previously due on 30 June 2016 to be repaid on the earlier of 31 December 2016 or on successful rescheduling.

The information communicated in this announcement contains inside information for the purposes of the Market Abuse Regulation.

For further information please visit: www.metalsexploration.com or contact:

Ian R. Holzberger

+63 (0) 9189 795 992

(Chairman)

+61 (0) 418 886 165

Liam A. Ruddy

+61 (0) 498 648 615

(Company Secretary)

+44 (0) 7911 719 960

Nominated Adviser: STOCKDALE SECURITIES Ltd

Robert Finlay, Edward Thomas

+44 (0) 207 601 6100

Public Relations: TAVISTOCK

Barnaby Hayward, Jos Simson

+44 (0) 207 920 3150

Broker: SP ANGEL CORPORATE FINANCE LLP

Ewan Leggat

+44 (0) 203 470 0470

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUKOBRNUAAURA

CLOSE

Sponsored Financial Content
  • Save 83% on a subscription. Hurry! Offer Ends Nov. 30

    Nikkei Asian Review

  • Top 10 reasons to invest in income

MarketViews

  • Weekly update on the financial markets

MarketViews

  • Expert financial and political views on
Latin America

MarketViews

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

©2014 London Stock Exchange plc. All rights reserved

First Gold Sale, Debt Rescheduling, Ramp Up - RNS

Metals Exploration plc published this content on 29 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 November 2016 08:02:45 UTC.

Original documenthttp://www.metalsexploration.com/pdf/RNS26.pdf

Public permalinkhttp://www.publicnow.com/view/0F4E864C25B971466A28A89D4CE0C89B2D7BE1FD