Metals Exploration (MTL)

Sector:

Mining

Index:

FTSE AIM All-Share

6.40p
   
  • Change Today:
      0.050p
  • 52 Week High: 6.60p
  • 52 Week Low: 2.10p
  • Currency: UK Pounds
  • Shares Issued: 1,823.15m
  • Volume: 2,250,934
  • Market Cap: £116.68m
  • RiskGrade: 558

Metals Exploration borrowing $2m to pay senior lenders

By Digital Look

Date: Wednesday 31 May 2017

LONDON (ShareCast) - (ShareCast News) - Natural resources exploration and development company Metals Exploration is borrowing $2m from its two largest shareholders to facilitate a $2.1m payment due to its senior lenders due today.
It had signed an unsecured loan agreement to borrow $2m from shareholders Runruno Holdings Ltd and MTL (Luxembourg) Sarl. Runruno would loan it $577,000, and MTL would loan it $1.423m.

The interest rate was 20% from the date of drawdown until 31 August 2017. There was a penalty interest rate of 30% from 1 September 2017.

"The repayment date is effectively the date when drawdown occurs of funds provided from a larger debt facility which is intended to be provided by a mezzanine debt provider by 30 June 2017," the company said.

"The proceeds of the loan will be used to facilitate a payment to the Group's senior lenders of $2.1m falling due on 31 May 2017," said Metals Exploration.

At 13:27 BST, shares in AIM-quoted Metals Exploration were up 6.48% to 2.88p each.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MTL Market Data

Currency UK Pounds
Share Price 6.40p
Change Today 0.050p
% Change 0.79 %
52 Week High 6.60p
52 Week Low 2.10p
Volume 2,250,934
Shares Issued 1,823.15m
Market Cap £116.68m
RiskGrade 558

MTL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.34% above the market average80.34% above the market average80.34% above the market average80.34% above the market average80.34% above the market average
60.32% above the sector average60.32% above the sector average60.32% above the sector average60.32% above the sector average60.32% above the sector average
Price Trend
95.45% above the market average95.45% above the market average95.45% above the market average95.45% above the market average95.45% above the market average
91.24% above the sector average91.24% above the sector average91.24% above the sector average91.24% above the sector average91.24% above the sector average
Income Not Available
Growth
95.46% above the market average95.46% above the market average95.46% above the market average95.46% above the market average95.46% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

MTL Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 9,361 @ 6.40p
16:35 9,361 @ 6.40p
16:12 1,474 @ 6.38p
15:33 22,953 @ 6.29p
15:27 35,392 @ 6.35p

MTL Key Personnel

CEO Darren Patrick Bowden
Chair Nick von Schirnding

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