Updated Runruno economic guidance
Metals Exploration Plc today announces guidance on the updated economic parameters of its 1.5 million ounces of gold and 25.4 million pounds of molybdenum Runruno project on the island of Luzon in the northern Philippines.
The Company also provides an indication of anticipated news flow over the next quarter.
Overview:
- Operation targeting annual production of approximately 100,000 ounces of gold and 1 million pounds of molybdenum oxide
- Minimum ten year mine life
- Capital cost not expected to exceed $150 million
- Operating costs anticipated to be less than previously indicated (previously $463 per ounce of gold, before molybdenum credits)
- Full feasibility study targeted to report in April
- Interim newsflow including further resource updates, results of step-out drilling, progress on metallurgical test work (on both gold and molybdenum recoveries), and status of Environmental Clearance Certificate anticipated
Runruno
To read the full announcement please visit the Company News area.