TIDMMTL

RNS Number : 3921A

Metals Exploration PLC

28 December 2017

28 December 2017

METALS EXPLORATION PLC

Runruno Project Scheduled Capital & Interest Payment

Metals Exploration plc (AIM: MTL), the natural resources exploration and development company with assets in the Pacific Rim region, today provides an update on matters relating to its capital and interest payments due to its senior lenders on 29 December 2017.

As previously announced, as part of the re-scheduled senior loan facility with the senior lenders to the project (BNP Paribas and HSBC Limited), a capital and interest payment are due by the end of December 2017. The senior lenders are fully informed as to the performance of the mine and gold recovery circuits and its resultant cash flows. With this in mind, the Company will pay the interest payment due of US$1.14 million and has entered constructive discussions with the senior lenders to defer the capital payment of $6.48 million to a time agreeable to all parties. A further update will be provided in due course.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please visit or contact www.metalsexploration.com

 
 
     Ian R. Holzberger (Executive            +63 (0) 9189 
      Chairman)                               795 992 
                                             +61 (0) 418 886 
                                              165 
 
                                             +44 (0) 7911 
     Liam A. Ruddy (Company Secretary)        719 960 
 
     Andrew Rodgers (Chief Financial         +61 (0) 412 429 
      Officer)                                856 
 
 
 
     Nominated Adviser and Broker: CANACCORD GENUITY 
      LIMITED 
                                             +44 (0) 207 523 
     Martin Davison, James Asensio            8000 
 
 
 
     Public Relations: TAVISTOCK 
                                             +44 (0) 207 920 
     Barnaby Hayward, Jos Simson              3150

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 28, 2017 02:00 ET (07:00 GMT)

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