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Let’s get a few more things under our belt before considering dividends which was originally dependent on Dupax extending operations at Runruno and having 2 mines in production by late 2027. Based on that occurring Darren stated possibly 2028 for dividends.. Things have changed greatly since then. It will be another 2 years and approx $200m to get another shovel ready mine into production. La India will be funding that plus all of the ongoing exploration costs in the Philippines and Nicaragua. We will get there but it’s 2.5 years away atm in my view. I am much more interested in how the next 6 months pans out.

Sakura - Have you contacted the company with any of your queries/concerns?

Please note that MTL had released an RNS back on 28th October 2024 stating the following:

“Metals Exploration, a gold producer in the Philippines, is pleased to announce that it has received final approval from Philippine authorities for the commencement of exploration drilling activities in the Abra tenements.”

It was only after this that the locals protested stating that they hadn’t been consulted. So any blame should be on the Philippine authorities for giving approval which then caused local dispute.

Due to the potential reserves at La India I would prefer if the Runruno plant was moved to the La India site which could then utilise the facilities being currently built. This could potentially be done in a much shorter timeframe and at a lower cost to a completely new mine site. The mill would have to be modified to process the new ore. The main issue could be the additional power requirements! If you are looking at another mine it could be anywhere but at much greater duration and cost. We shall hopefully find out the company’s plan in the coming weeks.

Has anyone here actually managed a £100m+ project let alone one in another country? Project plans change throughout the program as various tasks change or get added. In this case we know that MTL have added to the electrical infrastructure activity and as such the overall planned activities has expanded which affects the % complete! This hasn’t affected the end date. The company are doing a great job with La India so far and deserve far more credit than they are getting. Roll on December and 1st gold pour.

People - Stop feeding this trading Troll. 19 posts so far! Can you not ignore or use the filter?

Diesel fuel can account for 20% to 40% of a gold mine's total operational costs. Open pit mining requires large machinery and trucks which are diesel operated. The chances of oil prices remaining high for a long period of time >1yr are slim imo as this would destroy the world economy. Gold should also rise in this environment offsetting the additional diesel costs.

Surrey

Thanks. Nobody is better than you! Back into the green bin you go. Goodbye…

Surrey: You really are an embarrassment here!… La India production is a year away! Do you really think DB wants the share price to drop having been awarded his shares?

As we all should know by now from the company presentations this year the La India site is scheduled to be powered Sept/Oct 2026 with 1st gold pour 6-8 weeks after commissioning is completed. It is NOT going to be operational before that as the plant is dependent on the transformer which is a long lead item. Pretending or wishing for that to happen sooner is pointless. Whilst most of us here cannot fathom the recent continuing drop, it will pass and should be largely irrelevant to those waiting for the future prospects to materialise.

This is probably the quietest/low volume trading day so far this year in MTL! Looking at recent posts it appears that many are currently awaiting drill result data to lift this share price to a more reasonable level before year end. Unfortunately we have had to endure a tough few months so any positive news or RNS will be welcomed.

MTL have been adversely hit with the recent price drop in gold. We didn’t gain when the price was increasing over the last few months but have taken a hit now that it’s dropping!

The recent drop in the gold price from its all time high by the banksters has allowed a global takedown of all gold mining companies. Another poster compared the following companies performance to MTL over the last few months. As can be seen all of these listed and those across the entire gold mining have been hit.

These are the price drops on 22nd 27th and for the last 5 trading days

Ticker 22/10/25 27/10/25 Last 5 days

ALTN -12.62% -3.98% -15.73%

EDV -9.71% -5.03% -11.18

GGP -6.88% -7.42% -13.5%

SRB -10.19% -5.6% -10.94%

THX - 8.82% -4.8% -12.5%

MTL -8.03% -5.06% - 10.95%

The gold price is still @$4000! Any gold producer will be making record profits against this price. We were all happy only 19 days ago when gold reached $4k.

So the drop isn’t exclusive to MTL although there will be those claiming otherwise! GLA

MTL have stated that they were performing a 11-hole, ~2,500m drill program at Dupax. Incidentally, the H&P July research note stated a 23-hole programme. It is possible that MTL have altered their drilling schedule as this was their maiden drilling or they may have encountered delays as they assess the best places to drill. Either way, I would rather MTL provide initial results this year that are sufficient to conclude that Dupax will be used to extend the Runruno mining operation.

Dupax will be the game changer here. Whilst currently speculative, Hannam and Partners research have predicted a NAV10 value of US$2bn against Dupax. The initial 2500m drill program should partially confirm that estimate and show that Dupax is suitable for production with a modified Runruno plant. Hopefully the full summary of results will be available this year. This will the give us 2 mines potentially producing @400,000 oz/ gold equivalent circa 2028 as per Darren’s prediction. Work that one out in terms of share price! Couple that with all of the additional ongoing drilling which will increase resource estimates and we have ourselves a multi billion valuation. Also note that the year end broker target valuation of 18p doesn’t include Dupax or a rising gold price! Those holders who have assessed this know the potential of MTL and will simply hold & buy. Let’s see where we are by year end?

Apologies it is late. 2016=2026 and 2017=2027

Lee. I am in agreement with your views. The rewards will come but it is going to take time to come to fruition. As you have stated the share should increase by 1p/month and I expect more if unexpected rabbits are pulled out of the hat by DB. As MTL grows so do the short term traders and trolls who attempt to swing sentiment on this particular board. For the LTH’s sit back and ignore the noise. Use the green filter. The posts from some are hard to read at times. Progress is going to be steady. La India will be in production late 2016. The spoils of Dupax will be known during 2016 which will further MTL’s advance and will come online mid/late 2017. We will also have ongoing increasing reserves added to La India. Every target has met or exceeded the stated schedule. This is a mining company. It takes time to develop. Those patient will be rewarded imo.

Hannam Research

I think you find that it is $9 trillion of US debt that will mature this year!

Calibre have just responded stating they are not currently involved in negotiations with Condor and they don’t have an active offer. It’s going to be an interesting next few weeks. DYOR. GLA!

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