METALS EXPLORATION PLC
Metals Exploration Plc is a public limited company registered in England and Wales under company number 05098945, according to Companies House. Incorporated on 8 April 2004, the company is currently recorded with an “Active” status, with its registered office at 27-28 Eastcastle Street, London, W1W 8DH. Metals Exploration Plc’s ordinary shares trade on the AIM market of the London Stock Exchange under the ticker MTL (ISIN GB00B0394F60).
Metals Exploration Plc is a gold production, development and exploration company. Companies House records its nature of business under UK Standard Industrial Classification code 08990 (other mining and quarrying not elsewhere classified). The company wholly owns and operates the Runruno gold-silver-molybdenum mine in Nueva Vizcaya Province, on the island of Luzon in the Philippines, which has been in production since 2016, and, per its own investor disclosures, holds the Abra exploration tenement in the Cordillera region of the Philippines, obtained through the acquisition of the YMC Group in August 2024. Following completion of its acquisition of Condor Gold plc in January 2025, the company also holds the La India gold project and surrounding concessions in León, Nicaragua, which was under construction toward a first gold pour targeted for December 2026 as at 31 December 2025.
For the year ended 31 December 2025, Metals Exploration Plc reported sales revenue of US$208.4 million, up 9.1% on the prior year, driven by a higher average realised gold price of US$3,154 per ounce, even as gold production fell 22.2% to 65,287 ounces following cyanide contamination of the Runruno BIOX circuit in the third quarter of 2025 and a power loss caused by Super-typhoon Uwan in the fourth quarter. Operating profit rose 15.1% to US$61.6 million and adjusted EBITDA rose 27.6% to US$125.9 million, with the company reporting itself debt-free and generating US$115.3 million of free cash from operations, according to its audited final results announced on 22 May 2026.
During 2025, construction of the La India project progressed to 33% completion, with US$72.6 million spent in the year and first ore stockpiled ahead of the targeted 2026 gold pour. In January 2025, the company completed its acquisition of 100% of the issued and to-be-issued share capital of Condor Gold plc – its first acquisition outside the Philippines – following which the target company was re-registered at Companies House as the private limited company Condor Gold Limited.
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Shareholders
1
Shareholders of METALS EXPLORATION PLC
Companies House’s persons-with-significant-control register currently records a statement, effective 3 June 2025, that METALS EXPLORATION PLC has no registrable person or registrable relevant legal entity – that is, no individual or entity currently holds 25% or more of the company’s shares or voting rights. This followed the cessation, on the same date, of the previous registrable person, Nicholas Anthony Christopher Candy, who had been recorded since 24 July 2017 as holding 25-50% of shares and voting rights. Regulatory TR-1 notifications published via the London Stock Exchange’s regulatory news service since then disclose two shareholders each holding close to a fifth of voting rights: Drachs Investments No3 Limited, a Jersey-based investment company, held 594,465,701 ordinary shares representing 20.37% of total voting rights as at 7 July 2025 (issuer notified 9 July 2025), and holds a contractual right under a relationship agreement with the company to appoint one director for so long as its holding exceeds 15% of voting rights; and a chain of entities associated with Nicholas Candy – Candy Investments S.à r.l., MTL Investments S.à r.l., Candy Ventures S.à r.l. and MTL (Luxembourg) S.à r.l. – held 587,900,000 shares representing 19.22% of total voting rights as at 4 August 2026, following disposal of 65,100,000 shares (approximately 2.18% of voting rights) for £8,137,500 on deferred payment terms. No other shareholder is currently disclosed in the sources reviewed for this profile as holding 3% or more of voting rights.
Data availability
Classification: Major shareholders only. As an AIM-quoted public company, METALS EXPLORATION PLC discloses shareholdings that cross UK regulatory notification thresholds (broadly 3% and above under the Disclosure Guidance and Transparency Rules, and 25% and above under the persons-with-significant-control regime); its complete shareholder register is not publicly available. No individual or entity is currently recorded as holding 25% or more of shares or voting rights, so no ultimate beneficial owner can be identified from public filings at this time.
Sources
- Companies House – Persons with Significant Control register, company number 05098945 (retrieved 10 September 2026)
- London Stock Exchange RNS – TR-1: Notification of Major Holdings, Drachs Investments No3 Limited, threshold crossed 7 July 2025, issuer notified 9 July 2025
- London Stock Exchange RNS – TR-1: Notification of Major Holdings, Candy Investments S.à r.l. and related entities, transaction 4 August 2026, published 5 August 2026
Registry feed — rows exactly as filed with Companies House, including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| American Century ETF Trust-Avantis International Small Cap Equity ETF | 1.1% | Companies House |
Officers
32
Directors and officers of METALS EXPLORATION PLC
Companies House records six active directors and one active corporate secretary of METALS EXPLORATION PLC. The current board comprises Darren Patrick Bowden (appointed 1 January 2019), Andrew Howard Chubb (appointed 22 April 2021), Steven Miles Smith (appointed 31 August 2021), Timothy James Livesey (appointed 5 May 2022), and David Connal Cather and Robert Marshall (both appointed 1 November 2024); MSP Corporate Services Limited, a UK corporate officer, has served as Company Secretary since 18 February 2019. Companies House records nationality as Australian for Darren Patrick Bowden (resident in the Philippines); British for Andrew Howard Chubb (resident in England), Timothy James Livesey (resident in England), David Connal Cather (resident in Jersey) and Robert Marshall (resident in England); and British for Steven Miles Smith (resident in Luxembourg). This overview reflects Companies House officer data retrieved 10 September 2026.
Recent officer changes
- David Connal Cather and Robert Marshall appointed Directors, effective 1 November 2024 (Companies House).
- Nicholas Kurt Von Schirnding resigned as Director, effective 21 March 2025, having been appointed 18 March 2024 (Companies House).
- Guy Redvers Walker resigned as Director, effective 3 September 2024 (Companies House).
Data availability
Classification: Full. Companies House publishes current and historical director appointment and resignation dates together with nationality and country of residence for METALS EXPLORATION PLC’s directors. MSP Corporate Services Limited is disclosed as a corporate officer and, as a corporate secretary, is not required to disclose nationality, residence or date of birth under UK company law. Correspondence addresses on file are service addresses, not residential addresses; several directors share the company’s registered-office service address, which does not indicate their country of residence.
Sources
- Companies House – Officers list, company number 05098945 (retrieved 10 September 2026)
Registry feed — rows exactly as filed with Companies House, including entries the profile above does not cover.
Group Structure
Group structure of METALS EXPLORATION PLC
METALS EXPLORATION PLC is an independent, AIM-quoted parent company: Companies House’s persons-with-significant-control register records no registrable controlling person or entity, and the company is not disclosed as a subsidiary of any other business. Following completion of its acquisition of Condor Gold plc in January 2025, the company became the immediate and ultimate parent of Condor Gold Limited (company number 05587987), which was re-registered at Companies House as a private limited company on 27 January 2025, having previously traded as Condor Gold plc. Condor Gold Limited holds the La India gold project and surrounding concessions in Nicaragua, which METALS EXPLORATION PLC’s own results disclosures describe as under construction toward a first gold pour targeted for December 2026. The company also holds Philippine exploration interests, including the Abra tenement, obtained through the acquisition of the YMC Group in August 2024; the specific YMC Group entity could not be independently verified against an authoritative registry for this profile and is not included in the table below. This overview reflects Companies House registry data and the company’s own published disclosures, reviewed 10 September 2026.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Condor Gold Limited (formerly Condor Gold plc) | United Kingdom | 05587987 | Direct subsidiary | 75% or more of shares and voting rights (Companies House PSC band); the company’s own disclosures describe the transaction as an acquisition of 100% of Condor’s issued and to-be-issued share capital | Active | 15 January 2025 |
Recent structural changes
- Completion of the acquisition of 100% of the issued and to-be-issued share capital of Condor Gold plc, completed January 2025, adding the La India gold project in Nicaragua to the group (company’s audited final results, announced 22 May 2026; Companies House Persons with Significant Control register, notified 15 January 2025).
- Condor Gold plc re-registered at Companies House as the private limited company Condor Gold Limited on 27 January 2025, following completion of the acquisition (Companies House).
- Acquisition of the YMC Group, completed August 2024, adding the Abra exploration tenement in the Philippines (company’s own website).
Data availability
Classification: Partial. Companies House confirms METALS EXPLORATION PLC’s direct UK subsidiary, Condor Gold Limited, and the company’s own disclosures corroborate the La India project in Nicaragua and the Abra tenement in the Philippines; the specific Nicaraguan and Philippine entities through which these assets are legally held have not been independently verified against their home-country registries for this profile.
Sources
- Companies House – Persons with Significant Control register, company number 05098945 (retrieved 10 September 2026)
- Companies House – Company profile and Persons with Significant Control register, Condor Gold Limited, company number 05587987 (retrieved 10 September 2026)
- Metals Exploration Plc – Final Results for the Year Ended 31 December 2025 (RNS, 22 May 2026)
- Metals Exploration Plc – official website, metalsexploration.com/about-us/ (retrieved 10 September 2026)
METALS EXPLORATION PLC
United Kingdom
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Frequently Asked Questions
What does METALS EXPLORATION PLC do?
Metals Exploration Plc (company number 05098945) is a public limited company registered in England and Wales, incorporated on 8 April 2004 and trading on the AIM market of the London Stock Exchange under the ticker MTL; it is a gold production, development and exploration company that owns and operates the Runruno gold-silver-molybdenum mine in the Philippines and, since January 2025, the La India gold project in Nicaragua.
Who owns METALS EXPLORATION PLC?
Companies House records no current registrable person with significant control over Metals Exploration Plc; regulatory TR-1 filings disclose Drachs Investments No3 Limited holding 20.37% of voting rights (as at 7 July 2025) and a chain of entities associated with Nicholas Candy holding 19.22% of voting rights (as at 4 August 2026) as its largest disclosed shareholders.
Who is METALS EXPLORATION PLC's UBO (Ultimate Beneficial Owner)?
Every shareholder recorded for METALS EXPLORATION PLC is itself a company rather than a natural person, so no Ultimate Beneficial Owner (UBO) is identified at this level; establishing one would require tracing the ownership of each shareholding company in turn.
What is METALS EXPLORATION PLC's company registration number?
METALS EXPLORATION PLC's registration number is 05098945, filed with Companies House in United Kingdom. Its current status on the register is active.
Is METALS EXPLORATION PLC still an active company?
METALS EXPLORATION PLC's status on Companies House is listed as active.
When was METALS EXPLORATION PLC incorporated?
METALS EXPLORATION PLC was incorporated on 8 April 2004, according to Companies House.
What is METALS EXPLORATION PLC's registered address?
The registered address on file for METALS EXPLORATION PLC is London, United Kingdom.
What legal structure is METALS EXPLORATION PLC registered as?
METALS EXPLORATION PLC is registered as a Public Limited Company in United Kingdom.
What is METALS EXPLORATION PLC's revenue?
For the year ended 31 December 2025, Metals Exploration Plc reported sales revenue of US$208.4 million (up 9.1% on 2024), operating profit of US$61.6 million and adjusted EBITDA of US$125.9 million, according to its audited final results announced on 22 May 2026.
Is METALS EXPLORATION PLC listed on a stock exchange?
Metals Exploration Plc's ordinary shares (ISIN GB00B0394F60) trade on the AIM market of the London Stock Exchange under the ticker MTL.
Who are the officers/directors of METALS EXPLORATION PLC?
Companies House records six active directors of Metals Exploration Plc as at 10 September 2026 – Darren Patrick Bowden, Andrew Howard Chubb, Steven Miles Smith, Timothy James Livesey, David Connal Cather and Robert Marshall – with MSP Corporate Services Limited serving as Company Secretary.
Does METALS EXPLORATION PLC have a parent company or subsidiaries?
Metals Exploration Plc is an independent, AIM-quoted parent company with no registrable controlling person; it became the parent of Condor Gold Limited (company number 05587987) on 15 January 2025 following completion of its acquisition of Condor Gold plc, which holds the La India gold project in Nicaragua.
Can Zavia monitor changes to METALS EXPLORATION PLC's ownership over time?
This profile reflects a point-in-time snapshot from Companies House. Zavia's monitoring API can track changes to METALS EXPLORATION PLC's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access METALS EXPLORATION PLC's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including United Kingdom, so records like METALS EXPLORATION PLC's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Companies House and was last synced on 8 September 2026.