- Metals Exploration
- 22 July 2025 11:51:19
Source: Sharecast
The AIM-traded gold producer reported pre-tax free cash flow of $47.2m, up from $23.5m in the first quarter.
Gold revenue rose to $70.5m, compared with $48.4m previously, with 23,021 ounces sold at an average realised price of $3,061 per ounce.
Gold production for the quarter totalled 19,993 ounces, with a recovery rate of 92.1% and all-in sustaining costs falling to $1,098 per ounce.
“This has been a record-breaking quarter for the company, which has seen us take a significant step forward in our strategy to deliver sustainable value from both our producing and development assets,” said chief executive Darren Bowden/
“At Runruno, we continue to demonstrate our operational discipline, achieving a gold recovery rate of 92.1% and reducing our AISC to $1,098 per ounce.
“Importantly, the site recorded no lost time injuries during the quarter, reaffirming our commitment to maintaining a strong safety culture.”
The group also reported steady progress at its La India development project in Nicaragua, where bulk earthworks were 30% complete and the Rock Creek processing plant was preparing for shipment from Alaska.
Drilling was scheduled to begin in the third quarter.
Bowden said strong support from the Nicaraguan government and local communities had been “critical to maintaining project development momentum”.
Meanwhile, access negotiations were continuing in the Abra project area in the Philippines, with drilling expected to begin in the first quarter of 2026.
At 1131 BST, shares in Metals Exploration were up 3.89% at 12.68p.
Reporting by Josh White for Sharecast.com.