one of biggest risers today....not a lot of trades....up 28% at the moment...does anyone have any information

I bought into these on 26th nov 04, am currently on a 55% gain.
Dont know too much about them,but they are definately going in
the right direction.

what mae you but them?

Read somewhere that this company is hoping to capitalise on Chinas demand for metals,and is buying mining companies or projects in the Western Pacific Rim. If all goes well they could be on to a good thing.

juan29,
Bought in recently. What do you make of the recent drill results? The analysis is a bit high tec for me. It does not say if these are showing that the mines are able to produce commercially viable quantities. Any views?

AGM today ?

Eagles!

Metals Exploration Plc Initiation of Coverage at 42.5p with a strong buy and an initial target price 88.5p - GE&CR.


Share Price
42.5p

Spread
42p - 43p

Total no of shares
89.466 million
(17.414 million warrants and 3.2 million share options outstanding)

Market Cap
38.02 million
(46.784 million fully diluted)

12 Month Range
23p-46p

Market
AIM

Website
www.metalsexploration.com

Sector
Mining

Contact
Jonathan Beardsworth CEO
Tel: 07747101552

Jonathan Anderson
- Investor Relations
Tel : 07950410680

AIM listed Metals Exploration is a UK based precious and base metals Exploration Company with properties in the Philippines and Indonesia. Metals Exploration was floated on AIM in October 2004 with a geographic focus on the Southeast Asia Pacific region, particularly the Philippines, and since then it has managed to acquire significant interest in precious and base metal projects which, we believe, offer substantial exploration opportunities. The companys flagship property is the Runruno gold (Au)/molybdenum (Mo) deposit in the north of Philippines, 80 kilometres east of Baguio City and 200 kilometres north of Manila.

The company has this week completed the acquisition of CGA Mining Ltds remaining 15% minority interests at Runruno for a total outlay of 3.8 million, having gradually built up its ownership of the project over the last three years. The 15% acquisition gives Metals Exploration 70% ownership and 100% control of the mining rights of the project, and enhances the economics and value of the project to the company. By completing a BFS, the Company will then own 85% with an option to purchase (US$6m) over the remaining 15% of the project. The Runruno project has the potential to be a world class gold project with an existing JORC inferred resource estimate of 28.3M tonnes at an average resource grade of 2.23 g/t gold and 0.06% molybdenum and an inferred contained metal resource of 2.03 million ounces of gold and 34.4 million lb of molybdenum.

Additionally, Metals Exploration has recently announced the acquisition of rights to an exciting property on Waigeo Island in Indonesia that could potentially host major nickel laterite deposits. This is an important development for the growth of Metals Exploration, as it has effectively acquired nickel opportunities in the nickel laterite abundant Waigeo Island in Indonesia, as historic data in the companys hands suggests. The possibility of the grade and tonnage found in the Sarenbon nickel laterite (limonite) deposit, the companys immediate target for evaluation, supporting commercial direct shipping of high-grade nickel laterite ore operations, raises the prospect of providing near-term cash flow for the company, combined with low capital cost production and significant potential to increase the resource in the properties.

The main value with Metals lies in the gold/molybdenum Runruno project in the Philippines. The excitement of the Runruno resource area stems from the fact that the site sits within a large alkaline diatreme complex, of which less than 20% has been explored. The upside potential therefore remains very encouraging, given that the limited exploration to date has already identified an inferred contained metal resource of 2.03M oz of gold and 34.4Mlb of Molybdenum. The company has identified potential similarities between Runruno and the Cripple Creek gold mining operation in Colorado, in the United States - a gold producing joint venture between AngloGold Ashanti and Golden Cycle Gold Corporation. Whilst the robustness of the Cripple Creek analogy remains to be confirmed, the company has used publicly available data on Cripple Creek to understand the real potential of the area surrounding and incorporating the Runruno resource area.

Our base case valuation of the Runruno Project is based on the projects existing inferred resource of 2.03 million ounces of gold (Au) and 34.4 million pounds of Molybdenum (Mo), with recovery rates of 94.7% and 38% respectively. Having raised 6.3 million fund raising via a placing and a convertible note issue on the 19th July 2007, Metals Exploration remains fully funded to feasibility study stage. The company has a current net cash figure estimated to be around 4.5 million with a current cash burn rate of approximately US$750,000 per month. The majority covers major drilling activity at Runruno (US$350,000), some drilling at the nickel prospect in Indonesia (US$250,000) and the remainder towards corporate and staff overheads. The cash burn rate is expected to be significantly reduced by the end of the year as a result of completion of the 2007 drilling programme at Runruno.

An aggressive 2007 drilling programme is already under way, with second quarter metallurgical testwork and infill drilling returning encouraging results. It is expected that the company will now run scoping studies in parallel with continuing testwork for a better understanding of the projects economic model variables. As a result of the substantial work since the last resource estimate, we expect third quarter drilling and metallurgical testwork results to potentially increase the gold resource to 2.5 million ounces gold, and as a result we view this potential increased resource as a target price valuation, of which our valuation models provide for.

The acquisition of CGAs remaining interest in the Runruno Project improves the projects prospects and value, plus it demonstrates the companys confidence in taking the project forward. Our base case valuation of the Runruno project, based on a 100% stake in the property based on a modest gold price of $600 per oz, is 103p per Metals Exploration share on a fully diluted basis. We add another 15p per share for the Molybdenum value, arriving at 118p per Metals share. We do recognise the perceived political risk of owning assets in the Philippines, even though the country seems to be making real and perceived changes to mining laws to attract international mining companies to the country. We have considered it prudent therefore to allow a further discount factor in our valuation for the perceived political risk of 33%, arriving to a base case valuation of 79p and best case valuation of 118.5p (based on gold price of $800 per oz). Add to this a cash figure of approximately 4.5 million, or 5p per share, we arrive at a base case value of 84p and best case valuation of 123.5p per Metals Exploration share at Runruno, based on the current resource.

We attach no value to the other properties in the Philippines in our valuation, as we consider them as early stage exploration projects. Clearly if the company delivers on its promise to firm up its resource category to Indicated and Measured categories and increase its resource to a targeted 2.5M oz gold at the Runruno Project, this can add another 17-26.5p to Runrunos valuation. At an increased resource of 2.5 million oz gold and without the cash element, we arrive at a risk weighted (for political risk) base case valuation of 96p and a best case valuation of 145p.

At 42.5p, the upside for this company is clear given the encouraging news of the nickel opportunity at Indonesia and the continued progress at Runruno. We value the company based on our base case risk weighted valuation of 70.68 million for the current resource estimate at Runruno, a 4 million nominal value of the recently acquired nickel properties at Waigeo Island, Indonesia and 4.5 million net cash reserves of the company. The sum of parts valuation of Metals Exploration is 79.18 million or 88.5p per Metals Exploration share, with the scope of increasing that target within in the nearby future, subject to further exploration progress and a potential resource upgrade at Runruno to Indicated and Measured status. At 42.5p, we initiate our coverage with a strong buy with an initial target price of 88.5p but see the potential to increase that target significantly over the next 12 months if progress on the ground continues at the current pace.

SP 36.25p so much for GE&CR!

GE&CR often gives bad advice.

Metals Exploration says Runruno indicated resource raised 90 pct to 775,000 ozs

LONDON (Thomson Financial) - Metals Exploration PLC said indicated resources at its wholly owned Runruno gold-molybdenum deposit in the Philippines were increased 90 pct and it also reported higher gold grades.

Indicated resources were raised to 775,000 ounces from 409,000 oz and gold grades upped to 2.41 grammes a tonne from 2.27 g/t.Total JORC-compliant indicated and inferred resources are estimated at 27.0 mln tonnes at 2.41 g/t of gold and 0.062 pct molybdenum, containing 2.095 mln ounces of gold and 36.690 mln pounds of molybdenum.

The new estimate, which includes all drilling to the end of December, has 37 pct of the total resource reported on an indicated basis, up from the previous 20 pct.

For full text of the RNS:
MTL - Runruno Resource Update

An opportunity to meet with the directors in an informal setting in LONDON Next week!


Proactive Investors One2One Forums

Thursday the 13th March 2008

Metals Exploration and El Nino ventures will each present for 20 minutes with 10 minutes of Q&A to follow. After the presentations are complete the directors will be available to take questions during a free canapand wine reception. Details on these companies can be found in the articles linked to the left of this page and in the abstracts below.

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB

Please RSVP below.

http://www.proactiveinvestors.co.uk/eventregistration.php

New article, click HERE

More analyis, click HERE

12 million fundraising, click HERE

London presentation 8th September!

FREE regsitration, click HERE

The directors of Metals Exploration (AIM: MTL) and LonZim PLC (AIM: LZM) will be presenting:

Tuesday the 8th September 2009

Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.

Register Here - http://www.proactiveinvestors.co.uk/eventregistration.php

If you have any problems registering or queries please email action@proactiveinvestors.com


Toro Energy Limited (ASX:TOE)
Toro Energy Limited is one of Australia’s largest (by market capitalisation) emerging uranium exploration and development companies. It has the financial and technical resources to discover and/or acquire uranium projects and bring them to production in a socially and environmentally responsible manner.

Metals Exploration (AIM:MTL)
Metals Exploration Plc's primary objective is to discover and develop high value mineral resources within the Southeast Asia - Pacific region with particular emphasis on the Philippines. The Company is focused on increasing shareholder value through the acquisition, development and production from mineral resources, particularly gold, base metals and nickel. A team of well qualified directors with a mix of complimentary skills and experience makes Metals Exploration a versatile explorer with a current portfolio of outstanding gold, base metals, and nickel projects. The Company has an aggressive strategy of reviewing opportunities as they arise with the aim of expanding and adding to its existing projects and resource base.

LonZim PLC (AIM:LZM)
LonZim Plc (LonZim) is an investment company with a diverse portfolio of investments in Zimbabwe and the Beira Corridor in Mozambique. The Company’s investment objective is to provide shareholders with long-term capital opportunities through the investment of its capital in Zimbabwe and the Beira Corridor. The Company may make investments in the tourism, accommodation, infrastructure, transport, commercial and residential property, technology, communications, manufacturing, retail, services, leisure, agricultural and natural resources sectors

The boys are back in town!

Proactive Investors One2One Forums

The directors of Toro Energy Limited (ASX: TOE), Metals Exploration (AIM: MTL), Emed Mining (AIM: EMED) and Firestone Diamonds (AIM: FDI) will be presenting:

Tuesday the 8th September 2009
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

Register Here - http://www.proactiveinvestors.co.uk/register/event_details/58

If you have any problems registering or queries please email action@proactiveinvestors.com

Nearest tube stations are Green Park, about a 5 minues walk, or Bond Street, a 7 minute walk.

bought in this morning..too good to miss at these levels?

Anyone still in ?

have you any money left?? lol

After last months achievement in receiving Runrunos FTAA, Metals Exploration was punished for, what appeared, a disappointing resource update. Announced on the 19th of November, an independent technical report from Mining Associates Ltd redefined Runrunos resource estimate to 24.5 million tonnes (previously 31.2 mt) at 1.91 g/t (2 g/t) Gold and 470 ppm (500 ppm) Molybdenum for 1.5 million ounces (2 moz) of contained Gold and 25.4 million pounds (34.4 mlbs) of contained Molybdenum. However, while the headline result is reduced, the Measured resource actually increased significantly to 9.1 million tonnes (previously 3.6 mt)) at 1.92 g/t (2.37g/t) Gold for 560,000 ounces (270,000 oz) of contained Gold and 650ppm (1,000 ppm) Molybdenum for 13 million pounds (7.8 mlbs) of contained Molybdenum...www.uk-analyst.com

New article and analysis, click HERE