Metals Exploration revises guidance down after typhoon disruption
By Josh White
Date: Friday 14 Nov 2025
(Sharecast News) - Metals Exploration said on Friday that operations at its Runruno gold mine in the Philippines had been temporarily disrupted after Super-typhoon Uwan struck the region, forcing a pause in processing work and prompting the company to cut its annual production guidance.
The AIM-traded group said the storm, one of the strongest to hit Luzon in recent years, made landfall near Runruno on 9 November, bringing severe winds and heavy rain that caused damage to river crossings, access roads, roofing and several administrative and maintenance buildings.
Minor landslips were also reported in the open pit, while drill pads at the nearby Dupax project were affected, delaying drilling there by up to two weeks.
Mining at Runruno restarted on 11 November.
The company said it was "relieved" that no staff or contractors were injured.
It added that damage to the mine, processing plant and core site infrastructure was not material, and that clean-up activities were well advanced.
Main grid power was lost after electrical poles were brought down across Nueva Vizcaya province, but back-up generators kept the BIOX bacteria active.
Power was expected to be restored within days, resulting in an estimated seven-day suspension of processing operations.
Despite heavy run-off into the site's residual storage impoundment, the dam maintained integrity with more than four metres of freeboard at peak inflow.
Metals Exploration said local community infrastructure had also suffered damage, including a nearby bridge used to access the project area, and that it was supporting clean-up efforts where possible.
The disruption, combined with pit-area clean-up work and a cyanide contamination incident in September, led the company to revise its 2025 gold production guidance to 65,000 to 70,000 ounces, down from 70,000 to 75,000 ounces.
"Our thoughts are with all of those across the country who have lost loved ones and been affected not only by Uwan but the other serious typhoons that have impacted the Philippines this typhoon season," said chief executive Darren Bowden.
"We are relieved that there were no injuries at Runruno, and that there was no material damage to the mine, process plant or other site infrastructure."
"While it is disappointing to revise our annual production guidance downwards, our focus for the rest of the year will be on maximising value generation from our mining and processing operations at Runruno, while continuing to provide meaningful support to the local community during this challenging period; as well as progressing the construction at La India in Nicaragua."
At 1257 GMT, shares in Metals Exploration were down 2.4% at 12.2p.
Reporting by Josh White for Sharecast.com.
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