1 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.
FCF Minerals Corporation, advises that Typhoon Rosita, which made landfall on Tuesday morning over the central and norther parts of the island of Luzon, has had short term impacts on mining and processing operations at its Runruno project in the province of Nueva Vizcaya.
Rosita passed directly over Runruno bringing torrential rain and high winds, depositing 354mm of water over the mine site during the event. The Residual Storage Impoundment performed to design with no uncontrolled discharge experienced.
At the peak of the typhoon both the mining and processing operations were suspended and are yet to re-commence. It is expected that the processing operations will recommence within 24 hours following clean-up and the repair of water ingress into some electrical equipment. The mine has been re-established but will not start operations until further diesel supplies are available.
Within the operations physical damage was limited to superficial impacts on infrastructure including signs, erosion of road surfaces and causeways which have now been repaired. Outside the operational area the national road between Runruno and Solano has been cut as a result of a bridge failure. This road provides the primary access to the site for vehicular traffic and the delivery of supplies.
Mining activities are currently suspended pending the establishment of an identified alternative supply route for the delivery of diesel to the site. It is expected that the mine will be operational in 24 to 48 hours. Grid power was lost for a period of 14 continuous hours and the emergency generators provided power throughout that period, without issue. There was water ingress damage to a power transformer which supplies the BIOX blowers, rendering them inoperable for several hours. With the improved performance and chemistry in the BIOX reactor tanks the bacteria, although affected, have not shown any outward signs that they were badly impacted and are recovering their performance. Feeding of the BIOX circuit has recommenced at reduced rates as full activity is re-established.
The mine's Disaster Planning team had effected its typhoon preparation plan several days earlier and executed it to precision before, during and after the event which minimised the impacts and improved the safety of the Company's workforce and the neighbouring communities. No injuries have been reported.
A further update will be provided to the market will be provided in due course.
For further information please visit or contact www.metalsexploration.com
Metals Exploration PLC email@example.com
Ian R. Holzberger +63 (0) 9189 795 992
(Chairman) +61 (0) 418 886 165
Liam A. Ruddy +44 (0) 7904 200857
(Company Secretary) +63 (0) 918 979 2931
Andrew Rodgers +61 (0) 412 429 856
(Chief Financial Officer)
Nominated Adviser and Broker - CANACCORD GENUITY LIMITED
Martin Davison, James Asensio +44 (0) 207 523 4689
Public Relations - TAVISTOCK COMUNICATIONS
Barnaby Hayward, Jos Simson +44 (0) 207 920 3150
|London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.|
|©London Stock Exchange plc. All rights reserved|