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Pin to quick picksMetals Exploration Regulatory News (MTL)

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Mines and Geosciences Bureau Order

28 Oct 2015 10:15

RNS Number : 6918D
Metals Exploration PLC
28 October 2015
 

28 October 2015

 

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.

 

 

Partial Suspension Order - Runruno Project

 

Metals Exploration, through its Philippine subsidiary company FCF Minerals Corporation ("FCF"), advises that, following a site inspection into the damage caused by Typhoon Lando (Koppu), the Mines and Geosciences Bureau ("MGB") has issued an order directing FCF to suspend certain works in the areas of the Residual Storage Impoundment, the Malilibeg dump site and tailings pipeline bench area of the Runruno project. FCF has also been directed to undertake rehabilitation and clean up works to the areas affected by excessive water runoff. No other mine site operations are affected by the suspension.

 

FCF had already prioritised and commenced works in each of the areas subsequently identified by the MGB to rectify the impact of this extreme weather event. This work is ongoing. As announced by the Company on 19th October, Typhoon Lando (Koppu) caused no structural damage but there is debris to clean up and water damage to address.

 

The Company is working closely with the MGB to agree a programme of work to be undertaken to enable the suspension order to be lifted. It is expected that the programme will be agreed within a week for immediate implementation.

 

Commissioning of the processing plant is continuing, however the commencement of processing operations will be delayed until the suspension order is lifted. At this time it is not possible to estimate when this might occur.

 

Typhoon Lando (Koppu) made landfall on Sunday 18th October, its track passing close by Runruno as it moved in a north westerly and then northerly direction across Northern Luzon. It was recorded as a Super Typhoon event and was slow moving which resulted in the Runruno project being impacted by strong winds and intense rain fall over two days. Beyond the immediate concerns the remainder of the Project withstood the impacts of the Typhoon well.

 

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

 

 

Ian R. Holzberger

+63 (0) 9189 795 992

 

Nominated Adviser

 

(Chairman)

+61 (0) 418 886 165

 

Westhouse Securities Ltd

 

Liam A. Ruddy

+61 (0) 498 648 615

 

Robert Finlay, Alastair Stratton,

David Coaten

 +44 (0) 207 601 6100

(Company Secretary)

+44 (0) 7911 719 960

 

 

 

 

 

 

Public Relations

 

 

 

 

Tavistock

 

 

 

 

Edward Portman; 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
 
 
MSCPKFDDKBDDDKB
Date   Source Headline
1st Dec 20157:00 amRNSUpdate on Partial Suspension Order & Permitting
3rd Nov 201512:57 pmRNSHolding(s) in Company
28th Oct 201510:15 amRNSMines and Geosciences Bureau Order
27th Oct 20153:39 pmRNSResult of Open Offer & Issue of Equity
19th Oct 201511:17 amRNSTyphoon Koppu
15th Oct 201511:20 amRNSResults of General Meeting
28th Sep 20157:00 amRNSOpen Offer Circular & Notice of General Meeting
24th Sep 20159:19 amRNSTotal Voting Rights
24th Sep 20157:00 amRNSHalf Yearly Report
18th Sep 20157:00 amRNSPlacing, Open Offer & Debt Security
7th Aug 20151:00 pmRNSCommissioning and Funding Update
29th Jul 201510:18 amRNSHolding(s) in Company
30th Jun 20153:23 pmRNSResult of AGM
4th Jun 20157:00 amRNSFinal Results
16th Apr 201512:11 pmRNSHolding(s) in Company
16th Apr 201512:08 pmRNSHolding(s) in Company
14th Apr 20151:19 pmRNSHolding(s) in Company
18th Mar 20157:00 amRNSAnnual General Meeting Announcement
23rd Feb 20157:00 amRNSRunruno Gold Mine Progress Update
4th Feb 201512:36 pmRNSHolding(s) in Company
19th Jan 20157:48 amRNSDirectorate Change
30th Sep 20147:00 amRNSHalf Yearly Report
17th Sep 20147:00 amRNSRunruno Gold Mine Progress Update
11th Sep 20147:00 amRNSPrincipal Shareholder Restructure
26th Jun 20141:17 pmRNSResult of AGM
28th May 201411:07 amRNSRunruno Project Financing Concluded
23rd May 20147:17 amRNSFinal Results
23rd May 20147:16 amRNSNotice of AGM and Distribution of Annual Report
2nd Apr 201410:12 amRNSHolding(s) in Company
11th Mar 20147:00 amRNSOperational Update to February
7th Mar 201412:34 pmRNSAppointment of Non-Executive Director
3rd Mar 20148:55 amRNSWrit of Kalikasan dismissed
4th Dec 20138:58 amRNSOperational Update to November 2013
12th Nov 20131:08 pmRNSTyphoon Haiyan
21st Oct 20137:03 amRNSWrit of Kalikasan
15th Oct 201312:05 pmRNSIssue of Equity
25th Sep 20137:00 amRNSInterim results for the six months to 30 June 2013
20th Aug 20137:52 amRNSOperational Update to July 2013
2nd Aug 201310:07 amRNSDirectorate Change
19th Jun 20134:30 pmRNSResults of AGM and Start of Major Construction
17th Jun 20137:00 amRNSIssue of Equity
5th Jun 20137:00 amRNSResults of Open Offer and Issue of Equity
31st May 20134:15 pmRNSTotal Voting Rights - Replacement
31st May 20139:49 amRNSTotal Voting Rights
29th May 20137:58 amRNSDismissal of Writ of Kalikasan
24th May 20137:00 amRNSFinal Results
10th May 20134:03 pmRNSReplacement: Initiation of Open Offer
10th May 20132:00 pmRNSInitiation of Open Offer & Notice of AGM
23rd Apr 20131:10 pmRNSIssue of Equity
22nd Apr 201311:59 amRNSResult of General Meeting

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