METRO MINING LIMITED — Capital/Financing Update 2019

Nov 5, 2019

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ASX ANNOUNCEMENT
06 November 2019
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Bauxite Hills October Production Results

Metro Mining (ASX: MMI) is pleased to provide production and shipping results for the month of October.

		Bauxite Hills Production Results
Period	July	Aug	Sep	Oct	QTD	YTD	2019 Guidance
Mined (WMT)(‘000)	443	476	501	479	479	2,779	3,300 – 3,500
Shipped (WMT)(‘000)	463	455	497	504	504	2,756	3,300 – 3,500
Mined (WMT per day)	14,286	15,356	16,696	15,452	15,452	N/A	N/A
Shipped (WMT per day)	14,923	14,689	16,565	16,260	16,260	N/A	N/A

October was another excellent month for the Bauxite Hills Mine with shipment levels of 504K Wet Metric Tonnes being the strongest since operations commenced in April last year.

Transhipment activities continue to benefit from good weather conditions and seasonal high tides with loading rates maintained above 16,000 tonnes per day. Campaign crushing of over-sized stockpiles at the port was undertaken during the month, meaning less ROM bauxite was required to be mined to meet sales commitments.

Metro Mining Managing Director and Chief Executive Officer, Simon Finnis, said:

“The mining and shipping results are now consistently performing at or above our budget requirements; reflecting enhanced operational knowledge and experience. I anticipate a strong finish to the 2019 operating season and Bauxite Hills remains on track to meet the production and shipping guidance of 3.3-3.5M WMT”.

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ASX: MMI | ACN 117 763 443

Further Info: P : +61 (0) 7 3009 8000 | E : info@metromining.com.au |W: www.metromining.com.au

Contact: Simon Finnis, Managing Director & CEO | Mitchell Petrie, Company Secretary Duane Woodbury , CFO Address: Level 2, 247 Adelaide St, Brisbane | GPO Box 10955, Brisbane Q 4000

FORWARD LOOKING STATEMENT Statements & material contained in this ASX Release, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events & expectations and, as such, involve known and unknown risks & uncertainties. Although reasonable care has been taken to ensure facts stated in this Release are accurate and/or that the opinions expressed are fair & reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results & developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this Release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

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ASX Announcement | 06 November 2019 | Page 1