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Pin to quick picksMetals Exploration Share News (MTL)

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Metals Exploration Secures USD2 Million Loan From Shareholders

Thu, 29th Mar 2018 14:13

LONDON (Alliance News) - Metals Exploration PLC said Thursday that all areas of operation are performing soundly and that it has secured a USD2 million standby loan facility from two major shareholders.

The natural resources exploration company with assets in the Pacific Rim region added that it is in talks with finance providers to provide a longer term solution to the company's debt arrangements.

The standby loan will be available to be drawn for general short term working capital use and to facilitate the quarterly interest payment to the company's senior lenders. The facility has been made available by shareholders, MTL (Luxembourg) Sarl Ltd and Runruno Holdings Ltd,

The loan bears interest rate of 20% per annum accruing daily and arrangement fee of 2%. The company's senior lenders, the Hong Kong & Shanghai Banking Corp Ltd and BNP Paribas, have provided consent to a waiver request to defer the December 2017 and March 2018 capital payment totalling USD13 million.

Shares in Metals Exploration were up 6.9% at 3.47 pence.

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Metals Exploration names Nick von Schirnding as new chair

(Alliance News) - Metals Exploration PLC announced on Monday the appointment of Nick von Schirnding as chair.

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18 Mar 2024 12:07

Metals Exploration taps Nick von Schirnding for chairman

(Sharecast News) - Gold producer Metals Exploration said on Monday that it has appointed Nick von Schirnding as chairman, with immediate effect.

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24 Jan 2024 14:31

Metals Exploration shares down despite promising 2023 production rates

(Alliance News) - Metals Exploration PLC on Wednesday said that 2023 production and revenue had reached record levels, exceeding the company's previous forecasts for the full year.

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12 Jan 2024 15:22

Metals Exploration agrees to buy majority of YMC Group

(Sharecast News) - Philippines-focussed gold producer Metals Exploration announced a conditional share purchase agreement (SPA) on Friday, to acquire a controlling interest in the YMC Group, which holds a significant exploration tenement in the Abra area of the Philippines.

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12 Jan 2024 10:07

Metals Exploration to buy majority stake in Philippine YMC

(Alliance News) - Metals Exploration PLC on Friday said it has signed a conditional purchase agreement to buy a controlling interest in Philippines-based Yamang Mineral Corp Group.

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17 Oct 2023 10:48

Metals Exploration sees shares fall on quarterly gold revenue decline

(Alliance News) - Metals Exploration PLC on Tuesday said that it is expecting a lower head grade for the rest of the year, as gold revenue fell in the third quarter from the second.

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27 Sep 2023 14:37

EARNINGS: Metals Exploration gold-boosted interim profit skyrockets

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18 Sep 2023 14:22

TRADING UPDATES: Metals Exploration chair resigns; Mobeus NAV drops

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20 Jul 2023 18:52

TRADING UPDATES: Iofina optimistic; Metals Exploration ups outlook

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9 May 2023 12:24

IN BRIEF: Metals Exploration closes Runruno mine following fatality

Metals Exploration PLC - London-based, Philippines-focused gold producer - Notes fatality at Runruno mine, which is unconnected to any of the ongoing operational activities. Says Runruno will remain closed for 24 hours while the authorities finish their mandatory investigations. It is understood by Metals Exploration that no other parties were involved and that the authorities are not treating the death as an industrial related incident. "The company takes a loss of life incident, however caused, very seriously and to ensure the health and wellbeing of the workforce is upheld at all times," it adds.

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