Metals Exploration (“MTL”) has been granted the exploration permit for the Dupax polymetallic project in the Philippines that covers 3,100ha. We view this as a potentially material positive for MTL as Dupax is within trucking distance of the existing plant at Runruno. This plant could be re-purposed with modifications to process polymetallic ore if exploration is successful, boosting group gold equivalent production to >250koz/year for modest additional up front capex (US$30m). At present, the R ....
