Metals Exploration (“MTL”), which operates the Runruno gold mine in the Philippines, has announced that it has made the last payment under its mezzanine debt facility with US$2.6m outstanding under its long term facility. We view this as a material positive for MTL, taking the total of principal and interest repaid since 2020 to US$171.3m with the balance sheet now effectively de-geared driven by solid recent operational delivery. The main near term catalysts for the shares should be hitting 202 ....
