Metals Exploration (GB:MTL) has released an update.
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Metals Exploration PLC reported a strong second quarter in 2024, with gold revenue rising to $46.7 million and sales of 20,124 ounces at an increased average price of $2,320 per ounce, leading to a robust free cash flow of $24.8 million. The company achieved a milestone by becoming debt-free and by planning to buy back an 18.6% stake from Runruno Holdings Limited, positioning itself for future growth and acquisition opportunities. Additionally, safety records at the Runruno operations remained exemplary, with over 23 million hours worked without a reportable injury.
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