Metals Exploration

MTL is the 100% owner of the Runruno gold mine, the Philippines' second-largest gold mine. Runruno has a track record of producing strong profits and free cash flows. The company is currently debt-free. MTL recently acquired Condor Gold, with the La India Project offering a clear development path to production. In addition, an extensive Philippine exploration and development project opportunity, the Abra tenement, has also been acquired, with several drill ready targets defined. Runruno’s free cash flow is being reinvested to fund new project development and exploration efforts to provide post-Runruno cashflow as it approaches the end of its mine life.

Management Profile

Darren Bowden, CEO

Darren Bowden is an engineer, ex-Glencore, has led the corporate turnaround at Metals Exploration transforming Runruno into a highly profitable operation and achieving debt-free status.

Tim Livesey, Non-executive Director

Tim Livesey is a geologist and ex-Barrick Group director.

David Cather, Non-executive Director

Mining engineer, ex-Anglo American, current Chairman of Tungsten West.

Mike Langoulant, CFO.

Mike has extensive financial expertise, ensuring robust fiscal management and supporting strategic growth initiatives.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

• Maintain strong cash flow from the Runruno mine
• Sustain an impeccable safety record with zero lost-time incidents
• Commence and continue exploration activities at the Abra tenement
• Complete takeover of Condor Gold
• Advance early construction planning for the La India project

6 Months:

• Maintain strong cash flow from the Runruno mine
• Sustain an impeccable safety record with zero lost-time incidents
• Expand exploration activities at Abra
• Begin initial construction activities for the La India project

12 Months:

• Maintain strong cash flow from the Runruno mine
• Sustain an impeccable safety record with zero lost-time incidents
• Compiling of an initial resource estimate for the Abra tenement
• Commenced further resource drilling of Condor Nicaraguan projects
• Achieve significant progress on the construction of the La India project with the goal of fast-tracking production

What do you think makes your company such a compelling investment?

Metals Exploration is a proven operator with a strong track record at the Runruno gold mine, the Philippines' second-largest gold mine. The company is debt-free, generates robust free cash flows, and has received multiple government awards for safety, environmental stewardship, and community engagement. With the acquisition of the La India project, Metals Exploration is poised to become a geographically diversified gold producer with significant exploration and development upside. Future growth is well-funded through Runruno’s cash flow, ensuring minimal reliance on equity financing.