UK 10:42 Friday, 25 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
The political clouds are lifting over Philippines gold miner Metals Exploration (MTL). The Manila Times reported last week that the Runruno mine has been granted permission “to start full commercial operation before the end of this year after it has complied with the necessary corrective measures”. And the tough new Department of Environment Secretary, Regina Paz Lopez, is quoted as saying that the Bureau of Mines, when granting the company its certificate had proved “a way to identify responsible miners.” With her imprimatur investors can afford to smile.
An aborted attempt to take the company private, typhoons, a nightmare fear of political intervention and nervous creditors threatening to pull the plug, there has been little left to the imagination for shareholders, or what’s left of them, to endure at Metals Exploration (MTL).
You can never discount the possibility of a slip twixt cup and lip when dealing with bankers, particularly in these troubled times. Hence the extraordinary announcement from Metals Exploration (MTL) about an emergency requirement for cash just 48 hours after reporting progress at the mine head in bringing gold on stream.
Five years ago, the Candy brothers tried to take Metals Exploration (MTL), a promising gold play in the Philippines, private at 13p. Now, at long last, after a super typhoon wrecked its chances of coming on stream last September and the shares hit a 4p nadir in March (when shareholders were obliged to stump up a further $5 million at 3p to keep the project financiers happy), the company looks on the cusp of making serious returns.
