Writ of Kalikasan

RNS Number : 7856Q

Metals Exploration PLC

09 November 2012

 



9 November 2012

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.

Writ of Kalikasan

FCF Minerals Corporation (FCF), a wholly owned subsidiary of Metals Exploration Plc (MEP) and owner of the Runruno gold project in the Philippines, The Department of Environment and Natural Resources, The Mines and Geosciences Bureau and the National Commission on Indigenous Peoples have jointly been served with an application for a Writ of Kalikasan, seeking any number of remedies from a restraining order through ordering the payment of additional compensation to termination of the Runruno FTAA. A Writ of Kalikasan (literally, a Nature Writ) is a remedy under the 2010 Rules of Procedure for Environmental Cases that seeks protection of one's constitutional right to a balanced and healthful ecology.  FCF believes the basis of the writ is flawed with significant inaccurate "facts", and has a vexatious element.

On this basis FCF will work closely with the relevant Government agencies (that have provided FCF with all appropriate licences, along with numerous environmental and community support awards) to vigorously defend its position and rights in the Supreme Court of the Philippines. As such, FCF will lodge its response to the application by November 15, 2012. Further, FCF will consider all appropriate remedies against the counterparties to the writ as it considers appropriate for the inaccurate allegations and claims made in the writ.

At this point, FCF does not believe that the Writ will be successful, and therefore no quantitative value of its impact has been made.

MEP will continue to provide information when the action further develops.

For further information please visit or contact www.metalsexploration.com

Metals Exploration PLC                                                                 [e-mail]

Ian R. Holzberger                                                                             [phone]

(Chairman)                                                                                         [phone]

Liam A. Ruddy                                                                                   [phone]

(Company Secretary)                                                                      

Nominated Adviser

Westhouse Securities Ltd                                                            [phone]

Martin Davison

Paul Gillam

Public Relations

Tavistock Communications

Edward Portman                                                                              [phone]

Jos Simson                                                                                          [phone]

Broker

SP Angel Corporate Finance LLP                                               

Ewan Leggat                                                                                       [phone]

 

END

 

 

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