Runruno Scheduled Capital & Interest Payment

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 Chairman)	[phone]
		[phone]
	Liam A. Ruddy (Company Secretary)	[phone]
	Andrew Rodgers (Chief Financial Officer)	[phone]
	Nominated Adviser and Broker:                   CANACCORD GENUITY LIMITED
	Martin Davison, James Asensio	[phone]
	Public Relations:                                               TAVISTOCK
	Barnaby Hayward, Jos Simson	[phone]

 

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