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Metals Exploration (MTL)

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Monday 05 November, 2018

Metals Exploration

Banking Update

RNS Number : 3717G
Metals Exploration PLC
05 November 2018
 

5 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.

 

 

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.

 

 

 

 

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

 

Metals Exploration PLC                                                                 [email protected]

 

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


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