Regulatory Story
Company Metals Exploration PLC
Headline Banking Update
Released 12:38 05-Nov-2018
Number 3717G12

RNS Number : 3717G
Metals Exploration PLC
05 November 2018

5 November 2018




Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), the natural resources exploration and development company with assets in the Pacific Rim region.



Banking Update


The Company advises that it has received consent from its Senior Lenders to a waiver for the payment of capital amounts owing totalling US $35.64million until 31 January 2019. This covers capital payments which were due in each of the quarters ending 31 December 2017, 31 March 2018, 30 June 2018, 30 September 2018 and 31 December 2018.


The waiver contains a commitment from the Company to complete the restructuring of the senior debt facility of US $63.8million by 31 January 2019 and work is currently underway to achieve this objective.





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Metals Exploration PLC                                                       


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



Barnaby Hayward, Jos Simson                                                        +44 (0) 207 920 3150

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