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Metals Exploration Plc

www: www.metalsexploration.com   email: info@metalsexploration.com
Category: Junior: Emerging Mid-tier Producer
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Symbol Data

Symbol Currency
LON:MTL GBX

Description

Metals Exploration Plc are a gold focused junior, emerging mid-tier producer with one producing mine in Philippines and one mine in development in Nicaragua. Currently they produce roughly 70koz. of gold per year. They have approximately 0.4Moz. of gold in the reserves and resources category of which 0.4Moz. are in the measured and indicated category. They have a market capitalisation of ~£726.95M which is a fall of roughly 3% over the last two weeks. As of 08/31/2026 they have no debt and ~£41.89M cash. They have 3,358M shares outstanding and trade on the London Stock Exchange.

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General Details

Financial 08/31/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $748.08M $726.95M 08/31/2026 $-21.13M
MCap (OS): $748.08M $726.95M 08/31/2026 $-21.13M
Total Assets: $169.29M $168.90M 08/31/2026 $-0.39M
Total Liabilities: $40.63M $40.54M 08/31/2026 $-0.09M
Current Assets: $41.98M $41.89M 08/31/2026 $-0.10M
Current Liabilities: $41.98M $41.89M 08/31/2026 $-0.10M
Total Debt: $0.00M $0.00M 08/31/2026 $0.00M
Cash: $41.98M $41.89M 08/31/2026 $-0.10M
Debt (Net): $-41.98M $-41.89M $0.10M
Enterprise Value: $706.10M $685.06M $-21.03M
Cash Flow: $172.04M $164.12M never $-7.93M
Cash Flow Multiple: 4.35 4.43 never 0.08
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 08/31/2026 n/a
Misc 08/31/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 3,357,883,184 3,357,883,184 08/31/2026 0
Shares (FD): 3,357,883,184 3,357,883,184 08/31/2026 0
Insider Ownership: n/a n/a 08/31/2026 n/a
Dividend (Annual): n/a n/a 08/31/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a n/a 08/31/2026 n/a
Production (Gold Eq Oz.): (guess) 
70,000		 (guess) 
70,000		 08/31/2026 0
Production (Silver Eq Oz.): (guess) 
4,668,499		 (guess) 
4,744,417		 08/31/2026 75,917
Development Phase: Producer (Single Mine) Producer (Single Mine) 08/31/2026 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 15
Producer: Average
 15
Producer: Average
 08/31/2026 0
Cash Flow Multiple: 8 8 08/31/2026 0.00

Resource Data

GOLD 08/31/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 2.00M 2.00M 08/31/2026 0.00M
Measured & Indicated: 0.40M 0.40M 08/31/2026 0.00M
Inferred: n/a n/a 08/31/2026 0.00M
Reserves & Resources: 0.40M 0.40M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 1.80M 1.80M 08/31/2026 0.00M
Measured & Indicated: 0.65M 0.65M 08/31/2026 0.00M
Inferred: n/a n/a 08/31/2026 0.00M
Reserves & Resources: 0.65M 0.65M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
70,000oz.		 (guess) 
70,000oz.		 08/31/2026 0oz.
Cash Cost: $1,000 $1,000 08/31/2026 $0.00
Extra Operating Cost: $1,000 $1,000 08/31/2026 $0.00
Total: $2,000 $2,000 08/31/2026 $0.00
Margin (Free Cash Flow): $2,458 (55%) $2,345 (54%) $-113.22
MCap / Production (AuEq): $10,686.87 $10,385.02 $-301.85
EV / Production (AuEq): $10,087.11 $9,786.63 $-300.48
G
R
A
D
E		 Underground (Avg): 3.50 g/t 3.50 g/t 08/31/2026 n/a
Open Pit (Avg): n/a 1.70 g/t 08/31/2026 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 08/31/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 08/31/2026 0.00M
Annual Production: 125,000oz. 125,000oz. 08/31/2026 0oz.
Cash Cost: $1,200 $1,200 08/31/2026 $0
Extra Operating Cost: $1,000 $1,000 08/31/2026 $0
SILVER 08/31/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 08/31/2026 0.00M
Measured & Indicated: n/a n/a 08/31/2026 0.00M
Inferred: n/a n/a 08/31/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 08/31/2026 0.00M
Measured & Indicated: n/a n/a 08/31/2026 0.00M
Inferred: n/a n/a 08/31/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/31/2026 $0.00
Extra Operating Cost: n/a n/a 08/31/2026 $0.00
Total: n/a n/a 08/31/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $160.24 $153.22 $-7.02
EV / Production (AgEq): $151.25 $144.39 $-6.85
G
R
A
D
E		 Underground (Avg): n/a n/a 08/31/2026 n/a
Open Pit (Avg): n/a n/a 08/31/2026 n/a
Recovery Rate: n/a n/a 08/31/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 08/31/2026 0.00M
Annual Production: n/a n/a 08/31/2026 n/a
Cash Cost: n/a n/a 08/31/2026 n/a
Extra Operating Cost: n/a n/a 08/31/2026 n/a

Property

Last Analysis Data  (08/31/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev La India
100 show
3 million oz deposit.

1.5 million open pit (3 gpt)
1.5 million underground

Construction ready.

PFS: $150 million capex.
$700 cash cost per oz.

Size: 31,300 ha
Prod Runruno
100 show
1 million oz (1.7 gpt) resource.
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev La India
100 show
3 million oz deposit.

1.5 million open pit (3 gpt)
1.5 million underground

Construction ready.

PFS: $150 million capex.
$700 cash cost per oz.

Size: 31,300 ha
Prod Runruno
100 show
1 million oz (1.7 gpt) resource.

Profitability (by resource)

Proven &
Probable		 08/31/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 2.17M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.80M 1.80M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 1.95M
Maximum Profit (Gold): $4,423.95M $4,220.15M n/a $-203.80M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,423.95M $4,220.15M n/a $-203.80M
Max Profit / Current MCap: 5.914 5.805 n/a -0.108
Max Profit Per Share (Gold): $1.32 $1.26 n/a $-0.06
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.32 $1.26 n/a $-0.06
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $415.60 $403.86 n/a $-11.74
FD MCap / Silver Eq.: $6.23 $5.96 n/a $-0.27
FD MCap / Per Metal
as % Spot Price:		 9.32% 9.30% n/a -0.03%
EV / Gold Eq.: $392.28 $380.59 n/a $-11.69
EV / Silver Eq.: $5.88 $5.62 n/a $-0.27
EV / Per Metal
as % Spot Price:		 8.80% 8.76% n/a -0.04%
Measured &
Indicated		 08/31/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.40M 0.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.43M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.65M 0.65M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.70M
Maximum Profit (Gold): $1,592.62M $1,519.26M n/a $-73.37M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,592.62M $1,519.26M n/a $-73.37M
Max Profit / Current MCap: 2.129 2.090 n/a -0.039
Max Profit Per Share (Gold): $0.47 $0.45 n/a $-0.02
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.47 $0.45 n/a $-0.02
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $1,154.45 $1,121.84 n/a $-32.61
FD MCap / Silver Eq.: $17.31 $16.55 n/a $-0.76
FD MCap / Per Metal
as % Spot Price:		 25.90% 25.82% n/a -0.08%
EV / Gold Eq.: $1,089.66 $1,057.20 n/a $-32.46
EV / Silver Eq.: $16.34 $15.60 n/a $-0.74
EV / Per Metal
as % Spot Price:		 24.44% 24.33% n/a -0.11%

Reserves &
Resources		 08/31/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.40M 0.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.43M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.65M 0.65M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.70M
Maximum Profit (Gold): $1,592.62M $1,519.26M n/a $-73.37M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,592.62M $1,519.26M n/a $-73.37M
Max Profit / Current MCap: 2.129 2.090 n/a -0.039
Max Profit Per Share (Gold): $0.47 $0.45 n/a $-0.02
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.47 $0.45 n/a $-0.02
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $1,154.45 $1,121.84 n/a $-32.61
FD MCap / Silver Eq.: $17.31 $16.55 n/a $-0.76
FD MCap / Per Metal
as % Spot Price:		 25.90% 25.82% n/a -0.08%
EV / Gold Eq.: $1,089.66 $1,057.20 n/a $-32.46
EV / Silver Eq.: $16.34 $15.60 n/a $-0.74
EV / Per Metal
as % Spot Price:		 24.44% 24.33% n/a -0.11%

Future Valuation (Cash Flow & Totals)

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