Metals Exploration plc’s independent non-executive chairman and non-executive director Nick von Schirnding has stepped down, effective 21 March. The company said that Mr Schirnding’s decision follows Metals’ purchase of Runruno Holdings Ltd shareholding and settlement of debt disputes with lenders. Newly appointed non-executive chairman Steven Smith said: “It has been a pleasure to work with […]
Tag: Metals Exploration plc
Metals issues 94m shares for £5.6m loan facility
Metals Exploration plc has issued 94,127,854 ordinary shares each of £0.0001 held in treasury to satisfy the outstanding £5,647,671.23 unsecured bridging term loan facility, plus interest, with Drachs Investments No3 Ltd. DEBT-FREE The issue price of £0.06 per ordinary share, represents a premium of 9.1% to the middle-market close price on 6 March 2025. Drachs […]
Metals agrees to buy $9.7m plant for La India
Metals Exploration plc has entered into an agreement to buy a US$9.7 million gold ore processing and concentration plant for its La India gold project in Nicaragua. PRODUCTION The purchase from Almaden Minerals Ltd includes crushers, conveyors, grinding ball mill, Sepro Falcon gravity circuit, carbon in leach (CIL) circuit, elution and smelting equipment and laboratory, […]
Metals’ majority investor increases shareholding
Metals Exploration plc’s majority investor Nick Candy has increased his shares in the company. Candy Ventures S.a.r.l, which is majority owned by Mr Candy, and a person closely associated with Metals non-executive director Steven Smith, acquired two million ordinary shares each at an average price of 5.6p. Following the transaction Mr Candy has an interest […]
Metals issues 318m incentive options
Metals Explorations plc has issued 318 million options under its long term incentive programme to certain directors and senior management. TVR Approval to authorise the directors to issue up to 15% of the company’s issued capital as options was granted at a general meeting in August 2024. Options to subscribe for 221.5m ordinary shares are […]
Metals extends £5.5m bridging term loan
Metals Exploration plc has extended the term of its £5.5 million unsecured bridging term loan facility with Drachs Investments No 3 Ltd to 31 March 2025. The company agreed the December 2024 loan in connection with its acquisition of Condor Gold plc. Drachs holds 12.4% of Metals’ issued share capital.