Banking Update

RNS Number : 3717G

Metals Exploration PLC

05 November 2018

 

5 November 2018

METALS EXPLORATION PLC

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), the natural resources exploration and development company with assets in the Pacific Rim region.

Banking Update

The Company advises that it has received consent from its Senior Lenders to a waiver for the payment of capital amounts owing totalling US $35.64million until 31 January 2019. This covers capital payments which were due in each of the quarters ending 31 December 2017, 31 March 2018, 30 June 2018, 30 September 2018 and 31 December 2018.

The waiver contains a commitment from the Company to complete the restructuring of the senior debt facility of US $63.8million by 31 January 2019 and work is currently underway to achieve this objective.

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

Metals Exploration PLC                                                                 [e-mail]

Ian R. Holzberger                                                                               [phone]

(Chairman)                                                                                          [phone]

Liam A. Ruddy                                                                                    [phone]

(Company Secretary)                                                                        [phone]

Andrew Rodgers                                                                                [phone]

(Chief Financial Officer)                                                                                

Nominated Adviser and Broker - CANACCORD GENUITY LIMITED

Martin Davison, James Asensio                                                      [phone]

Public Relations - TAVISTOCK COMUNICATIONS

Barnaby Hayward, Jos Simson                                                        [phone]

 

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