Metals Exploration (MTL) has reported a solid set of Q2 production results from the company’s Runruno mine in the Philippines. Gold production was 24.7koz, above our expectation of 24.2koz and Q1 output of 21.4koz. No lost time injuries were reported during the period. This drove gold sold in H1 to 46.2koz at an average realised gold price of US$1,939/oz. The main driver of improved performance during the quarter was grade: mined grade increased from 1.53g/t to 1.62g/t, with processed grade incr ....
