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DUPAX - If there was nothing there, why would Woggle (MTL) be bothered to battle with the protesters the last 3 or 4 months through the courts?

RNS (13 Oct 2025)

DUPAX PROJECT

‘The IP results confirmed that the first two drill holes were drilled off the main mineralised structure’.

THE ABOVE IS SYNONYMOUS WITH:-

RNS (28 JAN 2026)

‘Drilling at Dupax to date has indicated that the target ore zone is deeper than predicted’.

DRILLING @ DUPAX HAS ONLY BEGUN PROPER LAST WEEK…!

DUPAX IS NOT DEAD..!

DUPAX IS STILL VERY MUCH IN THE GAME..!

Please read again:-

‘Exploration - Dupax, Philippines

· Drill programme continuing - limited drilling conducted during the Quarter with no near term production opportunity discovered to date’.

WHICH MEANS, STILL MORE DRILLING TO DO @ DUPAX..!!!

DB says the following:-

“Drilling at Dupax to date has indicated that the target ore zone is deeper than predicted. As a result, we have concluded that an economic resource at Dupax will not be able to be defined in time for Runruno's ore processing operations to be extended via the processing of Dupax ore. Accordingly, we are considering other options to repurpose the Runruno plant and will keep shareholders updated with any developments”.

WHICH MEANS, DUE TO DELAYS, DUPAX WILL NOT BE READY IN TIME TO FEED ORE INTO RUNRUNO MILL. THEREFORE DB IS LOOKING AT OTHER OPTIONS FOR RUNRUNO MILL IN THE INTERIM PERIOD.

“Drilling to date has indicated that the target ore zone is significantly deeper than predicted”…DB possibly exploring if underground mine viable?

Gold >>$5300.

Initial assessment of Dupax are not what was expected, but drill program has not been completed. After all, only got proper access to Dupax last week…drill results will follow…RNS points out there is a delay. In the meantime, DB is investigating other options to max Runruno…

Https://www.bbc.co.uk/news/articles/cvgd8kj2y2po

It’s ironic that most of us one day will swap our MTL shares for ‘worthless FIAT paper money’.

I would rather have the Dupax drill results & Q4 report separately, hopefully giving MTL a double boost.

Https://www.manilatimes.net/2026/01/10/regions/nueva-vizcaya-court-orders-protesters-to-remove-barricades-against-mining-firm/2256081?utm_campaign=mrf-facebook-TheManilaTimes&mrfcid=20260109695ef3805e489646414c0880&fbclid=IwY2xjawPPDqVleHRuA2FlbQIxMQBzcnRjBmFwcF9pZA80MDk5NjI2MjMwODU2MDkAAR7zo8VnavZLvlSbL9hF4S_LaalKEYnU3KJK16ikFsowbUatAO51n_H4t8jUIA_aem_Jl0Xg8hhrLYoIVuxW_g2xg

The missing bit *************** is facebook . com / groups / followed by Beloved…

no link won’t work. i’ll try another way

https:// www.******************** beloved.nueva.vizcaya/permalink/25798553283098272/?app=fbl

i’ll try again

https://www.********************beloved.nueva.vizcaya/permalink/25798553283098272/?app=fbl

Somehow, the link won’t paste properly

here is the writ (images can be viewed at the bottom of fb post) from the regional trial court, for you all to read…

https://www.********************beloved.nueva.vizcaya/permalink/25798553283098272/

access to dupax via public road must not be barricaded…

What’s with all the tiny trades today?

Very impressive. RNS suggests that the FCF from Runruno is healthy.

Here are MTL’s top 10 institutional investors as at 1st September this year , except for Galloway Ltd (Jim Mellon) which was reported on 1st June this year.

https://uk.investing.com/equities/metals-exploration-plc-ownership

If Galloway Ltd (Jim Mellon) are indeed now out, then they would have had to unload approx half a million shares per trading day.

I wonder how those numbers have changed since then & now?

Copied from MTL Quarterly Update to 30 September 2025

“Finance

· Q3 2025 positive pre-tax free cash flow of US$4.5 million (Q2 2025: US$47.2 million).

· Q3 2025 gold revenue of US$25.5 million (Q2 2025: US$70.5 million).

· Q3 2025 gold sales of 8,833 ounces ("oz") sold at an average realised gold price of US$2,889 per ounce ("p/oz") (Q2 2025: 23,021 oz at an average US$3,061 p/oz).”

These were the quoted average Price of Gold from July to September 2025

July 2025: Approximately $3,338.31 USD per ounce.

August 2025: Approximately $3,362.99 USD per ounce.

September 2025: Approximately $3,665.20 USD per ounce.

So MTL were selling their gold at approximately $566 USD per ounce below the market value!

MTL in 2026

https://theoakbloke.substack.com/p/mtl-mickey

Opening price 0.65p below yesterday’s close. I see almost 100% buys this morning…

https://www.investopedia.com/articles/basics/03/060603.asp