Last checked at 17 Sep 2018 08:26
17 September 2018
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.
Typhoon Mangkhut
Metals Exploration plc, through its Philippine's subsidiary company FCF Minerals Corporation, advises that Typhoon Mangkhut, which made landfall on Friday over the island of Luzon in the northern part of the Philippines, did not have any material effect on mining and processing operations at its Runruno project in the province of Nueva Vizcaya.
Heavy rains and high winds were experienced but the site was well prepared in advance for the impacts of the typhoon. Grid power was lost for a period of 16 hours caused by falling trees striking the power lines during the peak of the storm. This affected milling and crushing operations in the process plant during that time. Back-up generator power was employed to maintain stability in the BIOX process.
Mining operations were suspended for a shift (12 hours) during the peak of the typhoon until it was safe to resume and are now fully operational.
Processing operations were resumed on the re-establishment of the grid power, with the BIOX circuit throughput being brought back to 80% of design over the succeeding 18 hours. The BIOX circuit has been operated stably at these levels for in excess of 6 weeks to match the sulphide concentrate production levels; which reflects the mix of ores produced as the mine cuts back into stage 2 of the surface mine.
The Company's Emergency Response Team was mobilised and available for any eventuality which might have affected the site or communities in the surrounding vicinity. Fortunately there were no material incidents and the team is assisting in clearing up operations.
The Company will report more fully on operations in its next scheduled Quarterly Report.
For further information please visit or contact www.metalsexploration.com
Metals Exploration PLC info@metalsexploration.com
Ian R. Holzberger +63 (0) 9189 795 992
(Chairman) +61 (0) 418 886 165
Liam A. Ruddy +44 (0) 7911 719960
(Company Secretary) +63 (0) 918 979 2931
Andrew Rodgers +61 (0) 412 429 856
(Chief Financial Officer)
Nominated Adviser and Broker - CANACCORD GENUITY LIMITED
Martin Davison, James Asensio +44 (0) 207 523 4689
Public Relations - TAVISTOCK COMUNICATIONS
Barnaby Hayward, Jos Simson +44 (0) 207 920 3150