Metals Exploration (“MTL”) has released Q4 production of 15.156koz (H&Pe 16.9koz) with All In Sustaining Cost (“AISC”) of US$1,584/oz from the company’s Runruno mine in the Philippines. The miss was driven by the processing of lower grade ore, while recoveries were also below expectations. Operations were materially impacted by a super-typhoon that hit the island of Luzon in Q4; this was already reflected in our estimates with lower mill throughput, in line with H&Pe. FY25 output was 65.2koz, at ....
