Share Name Share Symbol Market Type Share ISIN Share Description
Metals Exploration LSE:MTL London Ordinary Share GB00B0394F60 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 3.125p 3.00p 3.25p 3.125p 3.125p 3.125p 664,672 07:31:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 0.2 -0.2 - 64.73

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Date Time Title Posts
27/4/201714:04Metals Exploration - The Investors thread1,746.00
24/1/201420:34Metals Exploration - Positive Rewsuls 30 June 20052,077.00
21/10/200923:36Metals Explore - Information thread1.00
30/6/200521:08Metals Explore - Information thread167.00
06/5/200514:41Metals Explore keep em peeled399.00

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Metals Exploration Daily Update: Metals Exploration is listed in the Mining sector of the London Stock Exchange with ticker MTL. The last closing price for Metals Exploration was 3.13p.
Metals Exploration has a 4 week average price of 3.13p and a 12 week average price of 3.13p.
The 1 year high share price is 10.13p while the 1 year low share price is currently 3.13p.
There are currently 2,071,334,586 shares in issue and the average daily traded volume is 860,998 shares. The market capitalisation of Metals Exploration is £64,729,205.81.
johnybigarms1: They may be looking at funding options, it's wise to have something in place if gold production doesn't cover costs, but if they do cover costs with sales and they don't require additional funding, the current share price will be a bargain missed, decisions decisions
johnybigarms1: Well I'm pleased to see the wheels haven't come off the cart as some predicted, fingers crossed we get up to speed with gold production and meet the payments, if no additional funding is used then we may turn a corner, I'm surprised the share price hasn't moved though, the figures are finally in black and white, were not going bust that's for sure, patience will reward I'm sure
jaber551: According to their NAV Announcement for 6 April 17, Baker Street still holds 7.3% of their investment in MTL. Down from 10% according to 17 Jan NAV statement . MTL 12 Jan Holding RNS indicate BSRT holds 6.7% interest in MTL with 137,875,609 shares when their investment was 10% of their portfolio. So they probably still holds around 134m shares Below extract from BSRT 6 April 17 NAV statement when they reduced to 7.3% “During March 2017, Metals Exploration plc ("Metals Ex") announced that mining and processing operations at its Runruno Gold Project in the Philippines are ramping up more slowly than had been expected, due to a prolonged period of incessant rainfall and other factors that have restricted the effective mining of waste materials. Although this is a further disappointment for a project that seems to have had more than its fair share of problems outside its control, when the Investment Manager met the management of Metals Ex following the announcement, they seemed reasonably confident that the situation could be turned around. During the month the share price of Metals Ex fell 31%.”
wiseacre: Despite many slips twixt cup and lip the counter-argument (to PP)jailbird is that the company has a resource of over 1 million ounces of gold. The mine is fully funded and has the prospect of mining 100,000 ounces of gold annually at a cost (including debt payments) of $760 an ounce against a current market price of $1,250 an ounce. We have been promised a quarterly report by 30 April which should give us a handle on current production. The collapse in share price is the result of persistent selling by one large holder(Ruffer) combined with an uncertain political backdrop. Though the risk is high I believe the potential rewards are very high. The management cannot be blamed for circumstances beyond its control.
peterpowell21: A bit of rain and £25m wiped of the share price. People then start to look for another problem. will there be more dilution. will el president close all the mines, and put 1.2 million of his people out of work. we were told that we are not affected by the mine closures. but giving only half a story does not help. Mining and processing operations are ramping up slower than had been expected and this is almost entirely due to a prolonged period of incessant rainfall and other factors which have restricted the effective mining of waste materials. So what are the "other factors" those two word had more to do with the large drop than anything else. why just not say what these other factors are.Why even mention them. Are they small factors. You see the AIM market like two little words like,"other things" it gives them an excuse to drop the share price even more. The market dont like uncertainty, and those two words gave it to them. So in the future the management need to not give half an excuse, leaving the other half open to interpretation. Was it a rushed RNS?, Well it was very short and lacking full facts. but they must be rushed of there feet,with all the work that is going on around them. Almost one million wiped of the market cap for every word in that RNS.
johnybigarms1: The long term holder does not only benefit from the share price, value will also come from dividend payments, once the loan is paid back in 2 1/2 years time, the gold profits at current $1200 to $1250 per ounce will be around $70 million per year split between the Philippine government in taxes, MTL and its shareholders, the dividend alone could be in the order of 2p per year for shareholders, over 7 years that's 14p on top of the share price, then the mine may expand over this period and extend its life even further, that's why I'm here investing in real business, not prospecting companies who are 5 to 10 years from getting a £dollar out of the ground, the wait for news is nothing to worry about, keep buying where funds allow, this is a real gold mine, a real opportunity to get a slice at silly low levels. IMHO
jailbird: This Co have no more reasons to fail to deliver production nowDelays has produced continued dilution of ppl' holdings .. meaning share price appreciation will be less than before Double the share price is my target once production starts
kj kelley: peterpowell21, yes all you say is true but.... MTL have had the delayed start up and the need to finance the company during this period through debt rescheduling and placings. I think they would have been rowing upstream if they had tried to get news out on the company's future. It would not have been worth the effort or money IMO. Now it is different and production is building up to 100,000 oz pa. Major shareholders are just like us in that they will want to see the share price rise to a fair valuation of the company. I fully expect the new broker to issue a research note. They have their own clients to sell to and will be fully aware that MTL provides a good opportunity to get low risk exposure to gold mining, especially at this price. The company itself will only have production and its further exploration to expand the resource to report on. What a nice problem that will be after the regulatory problems of the past.
lord badger: Hol, I’d given up speculating on what might happen down the line but I don’t think this is a pure Candy play given the outcome of the Battle for MTL a few years ago, which pegged back their holding to below 50%. I thing the prevailing theory is a sale at some stage. There is another theory, that being to build up a war chest and buy another mine, possibly from a major producer looking to pay down debt, but I don’t see the current management taking that on, and besides, it would be hard to compete with the Chinese who are acquisitive at the moment. Then there is the possibility of developing another mine - MTL is, at the end of the day, an exploration company - but I don’t think there is an appetite for this in the Philippines given the government’s attitude towards mining and the current regulatory environment. There are possibly a number of other options, along the lines of those you mentioned, but the Candy’s would have to convince Runruno Holdings, Baker Steel, Ruffer, et al, to go along with them on that journey - they could do it, but personally I doubt it. You mention the Candys being used to long term plays, but for them this is already a very long term play and perhaps they’re looking to close it out sooner rather than later. I think the other thing to bear in mind is that the world has changed a great deal since the the Candys first got involved and their priorities / strategy may well have changed; their strategy certainly changed after 2010. If a sale is the preferred route then unless something forces their hand, my logic dictates that the company would maximise value beforehand; get the mine into full production and optimise the gold circuit and then run it for a while whilst expanding the resource. Well, that’s what I’d do. With regards the share price, and your comment Peter, correct me if I’m wrong, but the company would most likely be selling the mine and the sale price would be based on the value of the gold in the ground, effectively the value of FCF Minerals, rather than MTL’s share price If this is the case then I’m not sure the major shareholders will be focused too much on the current SP, more on the longterm performance of the mine and the size of the resource/reserves.
lord badger: Peter, I agree that what is not said can be as important as what IS said. However, I know from my own experience advising clients on the release of news, you are often damned if you do, damned if you don't, plus very often there are a host of complex reasons in the background why what seems like straightforward information cannot be released; the latter of which is the bane of my life. I obviously can't comment on MTL and the reasons why certain seemingly obvious information is not being released, however, all I can say is that from my questions to the board at various AGMs and from the discussions with Ian and Liam at last year's AGM, to which a number of other members of this board were a party, I have experienced the "OK, now I understand" moment on numerous occasions. Plus, on the up side, the current drop in share price presents an opportunity to buy at the same level as the major shareholders did in the last two rounds of fund raising i.e. their premium has been nearly wiped out. Not only did the major shareholders pitch in at 5p but so did a range of new investors. I can't see any of them doing so if 5p didn't represent good value - OK, before someone points it out, you could say that the original major shareholders had to pitch in because they're in so deep, but that's not true of the new shareholders. Depending on your perspective of course, you could actually say that the "markets" are working in favour of PIs at the moment, at least those who have the funds to average down or take a position. Personally I view the management as cautious/conservative with regards news flow and have this baked in to my assessment of the business and my investment. Some miners like to splash news around and ride the share price gyrations like a dull rodeo rider, but I'm not a fan of this approach. At the end of the day approx 85% of MTL's shareholders are high net worth individuals and investment vehicles, who get the news they need. That's not to say the management ignore PIs, as our experiences at AGM's attest, but none the less it's a fact of life. Granted it means the free float is small, the market size is tiny and the share price regularly does odd things, but on the plus side, with a small group of major shareholders the business has been able to raise funds quickly and cheaply and the debt level is, by conventional standards, very low. We're hopefully in the home straight now but it's going to take a little more patience. I'm actually as interested in the next operational update as I am in news of an Environmental/CSR Award, the latter of which is so important on so many levels including the big one: keeping on the right side of the government. Quite aside from keeping on the right side of government, maintaining good environmental/CSR standards is just the right thing to do. Despite what some say, the government needs miners and the taxes they generate; they just want better miners, those who operate to the same standards they would in their home territories. They also have a vested interest in exemplifying good miners and promoting high mining standards, which is a win win for both the government and MTL, if we were to win another award (we have a fair few already). An award some time soon would be great news. No pressure then!
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