Process plant
Process Plant
Emergency Stockpile
Emergency stockpile
Process Plant
ASTER and Sag mill sections of the Process Plant
CIL tanks
Neutralization tanks
Neutralizaton tanks
Air-Water services
Air/Water services
RSI bridge
Bridge that will hold the RSI pipes
RSI pipes
Installation of pipes leading to RSI
BIOX laboratory
BIOX laboratory
BIOX laboratory
Switch yard
Mine access road
Mine access road
Safety berm placed along mine access road.
Safety berm placed along mine access roads.
Slope rehab
Slope rehabilitation
Gabion wall to protect river from flooding
Gabion wall to protect river from flooding
female driver
Female driver driving Komatsu HB785-7
Power lines
Power lines in full operation
Fully constructed road rehabilitation
Fully constructed road rehabilitation
Water system
Slope rehabilitation along the processing plant site
Slope rehabilitation along the processing plant site
Regular water quality, air and noise monitoring are conducted within the FTAA area
Regular water quality, air and noise monitoring are conducted within the FTAA area
The company donated 1 Million coffee seedlings for the National Greening Program of the Philippine government.
Company donated 1 Million coffee seedlings for the National Greening Program of the Philippine government
Company-sponsored student scholars visiting the project site are given an orientation by a senior geologist
Two scholars of the company recently finished college education
Two scholars of the company recently finished college education
Community pharmacy and medical clinic funded by the company to cater to health needs of the community.
School children beneficiaries of feeding program
Basic Learning Program are given to adults who were not able to go to regular school
Aside from jobs, the community are given livelihood to help them stand on their own feet after the project decommissions
Animal dispersal as part of the livelihood program for the community
Medical mission, feeding program and other program for the benefit of the community

Latest News

18/03/2015 -- 2015 AGM AnnouncementRead More
23-02/2015 -- Operational Update to 13 February 2015Read More
19/01/2015 -- Director resignation and appointmentRead More

Metals Exploration Plc


Operational Update
13 February 2015

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or "the Company"), the natural resources exploration and development company with assets in the Pacific Rim region, is pleased to provide an update on matters relating to the construction and development of its Runruno gold-molybdenum project ("the Project") in the Philippines.


  • Preparations have commenced for commissioning of the Process Plant in June 2015.
  • Production ramp up and plant optimisation expected to occur through H2 2015.
  • Self‐managed project build programme continues to progress well in all critical areas of construction despite some unseasonably wet weather and public holidays around Christmas and the Papal visit to the Philippines.
  • The inoculum cultures necessary for the Biox® and ASTER™ processes have been delivered to site.
  • Initial performance of the cultures has been very positive and process operator training has commenced.
  • A five year power supply contract with SN Aboitiz Power RES Inc. has been signed.
  • On‐site electrical switchyard has been approved as compliant by the Philippines Energy Regulatory Commission.
  • 69Kv transmission lines have been energised and the project is now directly connected to the Philippines national grid, as a direct contestable customer.
  • FCF owner's construction team is confident that commissioning of the Process Plant can begin by the end of Q2, 2015.
  • US $54m has been drawn down from the US $70m senior facility available for construction.
  • The construction project costs continue to be forecast at the budgeted figure US $182.8m.
  • All high value and long lead equipment packages have been awarded with most components successfully delivered to site without incident.

Ian Holzberger, Executive Chairman, commented:

"As construction gains momentum again after the Christmas period and the recent trip to the Philippines by Pope Francis, our Runruno gold project is really taking shape as we prepare for and look towards production. Some particularly wet weather certainly made conditions at site more challenging than normal, nonetheless good safe progress was made on each of the main construction areas.

"At the end of January, essential areas of construction occurred including structural steel erection, top of tank steel erection, ROM concrete structure erection, main MCC switch room structures and installation and erection of the ball mill. Metallurgy test‐work is well underway after successfully commissioning the site based Biox® mini plant in December and taking delivery of the initial four truckloads of ore for its start‐up operation. It was also very pleasing to resolve the project's electrical power needs after signing a five year contract with SN Aboitiz Power RES Inc..."

Read More

Metals Exploration is a natural resources exploration and development company operating in the Pacific Rim, with particular focus on the Philippines.

The Company’s principal asset is the Runruno Gold-Molybdenum Project on the island of Luzon in the northern Philippines. The Company acquired the project in February 2005 and recently increased its interest in the project to 100%.

Work to date has a defined mineral resource of 1.39 million ounces (Moz) of gold, and 25.6 million pounds (Mlb) of molybdenum with 1,050,000oz gold reporting to the Measured and Indicated categories and 900,000oz gold within the Mining Proven & Probable Reserve category. For further information please see the Runruno Resource page.

In October 2011, the Runruno Declaration of Mining Project Feasibility ("DMPF") was approved. This paved the way for the Project to move forward to development and construction phase. Early project development works have began in January 2012.

In May 2010 the Company announced the results of the Runruno project Feasibility Study which confirmed the viability of the project, projecting average production of 96,700oz of gold per annum over a mine life of 10.4 years, at an average forecast operating cost $477/oz gold before any molybdenum credits. The capital cost is forecast to be US$149.3 million, with payback within 3.5 years at US$1,000/oz gold. The Runruno project will be an open pit operation, and will use the proven BIOX® and carbon in leach processes to recover gold and molybdenum.

In March 2010 the Company announced the award of the Environmental Compliance Certificate (ECC) for the Runruno project, which was issued after satisfactory evaluation of the project’s Environmental Impact Statement by the Philippine Environmental Management Bureau. The ECC process was conducted with the full participation and involvement of the local community, and under the ECC the Company is committed to implement measures to protect and mitigate against any adverse impacts on the health and welfare of community and the environment. Securing the ECC is a significant point, following the award of the Financial or Technical Assistance Agreement, demonstrating continued support from the Philippine Government for the development of the Runruno project.

In October 2009 Metals Ex reached an important milestone as the Financial or Technical Assistance Agreement (FTAA) was signed by Executive Secretary Eduardo Ermita on the authority of the President of the Philippines. Under the terms of the FTAA, FCF Minerals, the Philippine subsidiary which operates the Runruno Project, is granted the exclusive right for 25 years to explore, mine, process and export minerals from the licence area. In exchange for this right, FCF is required to commit a minimum investment of $50 million in project development, much of which will be spent on local infrastructure benefiting local communities.

Metals Exploration works hard to maintain excellent relations with the local communities in the project areas. FCF Minerals promotes social and economic development through the Runruno Livelihood Foundation, a trust funded jointly by the Company and the Philippine government. We also conduct all our operations in a safe and environmentally responsible manner to industry best practise standards.

Metals Exploration Plc is publicly listed company on the London Stock Exchange and admitted to the Alternative Investment Market (AIM:MTL) on 22 October 2004.

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