Metals Exploration (AIM: MTL) a natural resources exploration and development company, with assets in the Philippines and Indonesia, updated the markets on the Scoping Study being prepared for its Runruno gold-molybdenum deposit in the Philippines.
Consultants to Metals Exploration are working on the process design and capital and operating cost estimations. BIOX® has been identified at the preferred processing technology for the recovery of gold and molybdenum at Runruno on the basis of capital and running costs. The design and costing of infrastructure is proceeding. The drilling required for the Scoping Study is complete and it is anticipated that the study will be finalised by early September.
Jonathan Beardsworth, Chief Executive of Metals Ex, said:
"Our confidence in the resource and the likelihood of being able to develop a mine at
Runruno grows with every report received"