LONDON (Alliance News) - Metals Exploration PLC saw its share price rise on Monday after the company successfully poured its first gold dore at the Runruro project in the Philippines.
Metals Exploration shares were trading up 9.4% to 7.25 pence per share on Monday morning.
The company started test running and debugging the processing plant and associated operations in May and has now poured its first gold dore, a semi-pure alloy of gold and silver which is usually created at the mine site before being purified further in a refinery.
"The gold poured was predominately recovered from the gravity circuit. The carbon-in-leach circuit has commenced test running and debugging operations with the BIOX circuit forecast to commence within seven to ten days," said the company.
"The company will make further announcements in due course, as appropriate," Metals Exploration added.
The plant at Runruro had suffered a partial suspension order in October last year after Runruro was hit by Typhoon Lando but that suspension was lifted in April this year.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Metals Exploration (MTL)