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