METALS EXPLORATION PLC - Final Results

Metals Exploration PLC delivered a strong investor update highlighting robust company performance, record financial results, and a clear growth strategy despite the planned wind down of Runruno operations. The company reported record revenue of $208 million and free cash flow of $115 million, supported by higher gold prices, improved cost management, and the expiry of hedging. While production is expected to decline to 40,000 to 48,000 ounces in 2026, cash generation remains strong and is funding development of the La India project in Nicaragua. Construction is progressing on schedule with first production targeted by year end, positioning the asset to scale output from 100,000 ounces in 2027 to up to 150,000 ounces annually, with competitive all in sustaining costs and strong margins. The company also strengthened its growth pipeline through exploration and high grade discoveries, while advancing its order book of development assets. Management reiterated its focus on securing a second producing operation by 2028, enhancing long term revenue visibility, EBITDA growth, and shareholder returns, with potential for future dividend initiation.