Metals Exploration (MTL) is an AIM-listed gold producer and 100%-owner of the Runruno gold mine, located on Luzon Island in the Philippines. It is one of the largest gold mines in the country, producing via an open pit and 2Mtpa BIOX plant. We estimate production from Runruno in 2021 of 67 koz of gold at an AISC of US$1,153/oz, rising to a peak of 80 koz in 2024 at an AISC of US$853/oz. Our current expectation is for mining to stop in 2026 once the current reserves of 500 koz @ 1.4 g/t have been ....
19 Apr 2021
Gold production turnaround near complete
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Gold production turnaround near complete
Metals Exploration plc (MTL:LON) | 5.5 0 0.9% | Mkt Cap: 115.8m
- Published:
19 Apr 2021 -
Author:
Roger Bell | Andrei Kroupnik | Jay Ashfield -
Pages:
25
Metals Exploration (MTL) is an AIM-listed gold producer and 100%-owner of the Runruno gold mine, located on Luzon Island in the Philippines. It is one of the largest gold mines in the country, producing via an open pit and 2Mtpa BIOX plant. We estimate production from Runruno in 2021 of 67 koz of gold at an AISC of US$1,153/oz, rising to a peak of 80 koz in 2024 at an AISC of US$853/oz. Our current expectation is for mining to stop in 2026 once the current reserves of 500 koz @ 1.4 g/t have been ....