METALS EXPLORATION PLC

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Figures converted to GBP from US$ at 0.748 per US$ (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

UK-adopted international accounting standards

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors consider the continuing strong operating and financial performance of the Group provides ample evidence that there currently is no material uncertainty surrounding the Company and the Group's ability to continue as a going concern.”

Group structure

1. METALS EXPLORATION PLC · parent
   1. Metals Exploration Pte Ltd 100% · Singapore · Holding and investment company
   2. FCF Minerals Corporation 100% · Philippines · FTAA licensee, holder of mining rights and gold production
   3. MTL Philippines Ltd 100% · Philippines · To hold exploration rights
   4. Faratuk Exploration and Mining Corporation 100% · Philippines · To hold exploration rights
   5. Yamang Mineral Corporation Pte Ltd 100% · Singapore · Holding and investment company
   6. Yamang Mineral Corporation 70% · Philippines · To hold exploration rights
   7. Yamang Mineral Abra Corporation 79% · Philippines · To hold exploration rights

Significant events

• “successful acquisitions of Condor Gold Plc ("Condor") and the YMC Group ("YMC")”
• “acquisition of 100% of Condor Gold plc and its Nicaraguan gold assets (which completed in January 2025)”
• “repayment of the Group's external debt in June 2024.”
• “On 28 November 2024, MTL entered into a bridging loan agreement with its second largest shareholder, Drachs Investments No. 3 Limited ("Drachs") whereby Drachs provided a £5,500,000 loan (the "Loan") to be utilised in connection with the acquisition of Condor.”
• “During FY2024, the Company completed the off-market acquisition of 100% of RHL's then 18.6% shareholding in the Company at 5p per share, being 393,513,302 Ordinary Shares for a total outlay of £19,675,665, as part of a wider full and final settlement with RHL.”
• “In April and June 2024, following the exercise of options, the Company issued 19,800,000 new Ordinary Shares. In August 2024, the Company issued 3,785,446 new Ordinary Shares in lieu of a cash bonus to management.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

12

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.