{
 "as_of": "2026-11-06",
 "cmr": "uk-cm-kg/AIM/MTL",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# METALS EXPLORATION PLC (AIM: MTL) — research page\n\nAs of 2026-11-06 · uk-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is METALS EXPLORATION PLC, listed on AIM under the ticker MTL, with ISIN GB00B0394F60 and LEI 2138006CFXWG2OPRV987. Its security type is Corporate, its segment is ASQ1, and its sector is Industrial Metals and Mining [551020]. The jurisdiction on the record is England and Wales (Companies House jurisdiction field). The listing status on the record date of 2026-11-06 is listed, not halted.\n\n## The disclosure read\n\nThe record holds 63 filings in the twelve months from 2025-11-06 to 2026-11-06, across 52 filing days. The median gap between filing days is 5 days. The latest filing is dated 2026-11-04, is of type ch_capital, and sits 2 days before the record date. The AIM exchange median cadence gap is 7.0 days, the AIM median filings count is 33.5, and the AIM median latency is 4 days. The sector median cadence gap is 6.0 days, the sector median filings count is 47, and the sector median latency is 3.0 days. The issuer's 63 filings are above the AIM median of 33.5 and above the sector median of 47. The issuer's cadence gap of 5 days is below the AIM median of 7.0 days and below the sector median of 6.0 days. The issuer's latency of 2 days is below the AIM median of 4 days and below the sector median of 3.0 days.\n\n## Auditor\n\nThe auditor of record is PKF Littlejohn LLP. The location of the auditor is not on the record. Auditor changes are not on the record, because this register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.\n\n## Orderability\n\nFor the elective professional client category, the outcome is signal ACM-200, and it is determinable. For the eligible counterparty category, the outcome is signal ACM-200, and it is determinable. The rule version is acm-68000/uk/product-governance-fca-prod-sourcebook/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's own investor-relations page names 2 research houses: Hannam & Partners and Panmure Liberum.\n\n## Open research\n\nThe record holds 2 openly published research notes: one by Hannam & Partners dated 2022-02-14, and one by H&P Advisory Limited dated 2022-01-21.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nNo issuer years are sealed. The market's vintage is not sealed, and no earliest sealed date is recorded for the market. The live record began on 2026-09-11. The years 2021, 2022, 2023, 2024, 2025 and 2026 are sealed in the store but not served as of a date, and the as-of door answers not_sealed.\n\n## Sources\n\n12 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (identity.exchange)\n- https://api.londonstockexchange.com/api/gw/lse/instruments/alldata/MTL (identity.isin)\n- https://find-and-update.company-information.service.gov.uk/company/05098945 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://www.londonstockexchange.com/stock/MTL/metals-exploration-plc/company-page (identity.sector)\n- https://mcp.uk-cm-kg.ai/events/AIM/MTL (the disclosure lines)\n- https://marketsecurities.fca.org.uk/officiallist (the halt flag)\n- https://mcp.uk-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://metalsexploration.com/investors/broker-notes/ (coverage)\n- https://metalsexploration.com/wp-content/uploads/2022/02/MTL_04_20220214_Model-update-1.pdf (open research)\n- https://metalsexploration.com/wp-content/uploads/2022/02/MTL_03_20220120_Q4-Results.pdf (open research)\n- https://mcp.uk-cm-kg.ai/record/AIM/MTL (the record)\n",
 "market": "UK",
 "node": "uk-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": "2026-09-11",
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "6 years are sealed in the UK store; their Replay split is not built, so the as-of door answers not_sealed and the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false,
   "store_years_sealed_not_served": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ]
  },
  "auditor": {
   "auditor": {
    "read_by": "Tavily regex · adjudicated by Claude",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": null,
    "state": "filled",
    "value": "PKF Littlejohn LLP"
   },
   "auditor_firm_id": {
    "market": "UK",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "UK",
    "state": "not_on_record"
   },
   "changes": {
    "market": "UK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "uk-cm-kg/AIM/MTL",
  "coverage": {
   "count": 2,
   "houses": [
    {
     "house": "Hannam & Partners",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://metalsexploration.com/investors/broker-notes/",
     "state": "sourced"
    },
    {
     "house": "Panmure Liberum",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://metalsexploration.com/investors/broker-notes/",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://metalsexploration.com/investors/broker-notes/",
     "result": "read: 2 of 4 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 594,
     "median_cadence_gap_days": 7,
     "median_filings": 33.5,
     "median_latency_days": 4,
     "name": "AIM"
    },
    "sector": {
     "issuers": 117,
     "median_cadence_gap_days": 6,
     "median_filings": 47,
     "median_latency_days": 3,
     "name": "Industrial Metals and Mining [551020]"
    }
   },
   "by_type": {
    "agm_record_date": 1,
    "ch_accounts_filed": 1,
    "ch_capital": 13,
    "ch_confirmation_statement": 1,
    "ch_officer_change": 1,
    "ch_other": 1,
    "ch_resolution": 1,
    "corporate_action": 10,
    "director_dealing": 4,
    "early_warning": 1,
    "financial_statement": 2,
    "newswire_release": 6,
    "regulatory_announcement": 21
   },
   "cadence_median_gap_days": 5,
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   "filings": 63,
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   "latest": [
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     "category": null,
     "date": "2026-11-04",
     "source": "https://find-and-update.company-information.service.gov.uk/company/05098945/filing-history/MzU1NDM5MzczMGFkaXF6a2N4/document?format=pdf&download=0",
     "title": "capital allotment shares — 2026-11-04",
     "type": "ch_capital"
    },
    {
     "category": null,
     "date": "2026-11-02",
     "source": "https://www.investegate.co.uk/announcement/mfn/metals-exploration--mtl/exercise-of-options-pdmr-dealing-and-total-v-/9852627",
     "title": "Exercise of Options, PDMR Dealing and Total V...",
     "type": "director_dealing"
    },
    {
     "category": null,
     "date": "2026-11-02",
     "source": "https://www.businesswire.com/news/home/20261101547063/en/Sinda-Ltd.-Reports-Third-Quarter-2026-Results-Highlighting-Continued-Drilling-Success-and-Notable-Progress-Toward-the-Caracol-Exploration-Decline",
     "title": "Sinda Ltd. Reports Third Quarter 2026 Results, Highlighting Continued Drilling Success and Notable Progress Toward the Caracol Exploration Decline",
     "type": "newswire_release"
    },
    {
     "category": null,
     "date": "2026-10-27",
     "source": "https://www.investegate.co.uk/announcement/mfn/metals-exploration--mtl/quarterly-update-to-30-september-2026/9842269",
     "title": "Quarterly Update to 30 September 2026",
     "type": "regulatory_announcement"
    },
    {
     "category": null,
     "date": "2026-10-21",
     "source": "https://www.investegate.co.uk/announcement/mfn/metals-exploration--mtl/la-india-resumption-of-construction-activit-/9832807",
     "title": "La India – Resumption of Construction Activit...",
     "type": "regulatory_announcement"
    }
   ],
   "latest_filing_date": "2026-11-04",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.uk-cm-kg.ai/events/AIM/MTL",
   "window": {
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    "to": "2026-11-06"
   }
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    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (price-explorer feed api.londonstockexchange.com/api/v1/components/refresh, markets=AIM, categories=EQUITY, showonlylse=true)",
    "state": "sourced",
    "value": "AIM"
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   "isin": {
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    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.londonstockexchange.com/api/gw/lse/instruments/alldata/MTL",
    "state": "confirmed",
    "value": "GB00B0394F60"
   },
   "jurisdiction": {
    "read_by": "Companies House REST API (company profile) (jurisdiction field)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://find-and-update.company-information.service.gov.uk/company/05098945",
    "state": "confirmed",
    "value": "England and Wales (Companies House jurisdiction field)"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-09",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN GB00B0394F60)",
    "state": "sourced",
    "value": "2138006CFXWG2OPRV987"
   },
   "name": {
    "read_by": "LSE price explorer (exchange list)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (price-explorer feed api.londonstockexchange.com/api/v1/components/refresh, markets=AIM, categories=EQUITY, showonlylse=true)",
    "state": "sourced",
    "value": "METALS EXPLORATION PLC"
   },
   "sector": {
    "read_by": "LSE issuer profile (exchange site)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/stock/MTL/metals-exploration-plc/company-page",
    "state": "sourced",
    "value": "Industrial Metals and Mining [551020]"
   },
   "security_type": {
    "read_by": "LSE price explorer (exchange list)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (price-explorer feed api.londonstockexchange.com/api/v1/components/refresh, markets=AIM, categories=EQUITY, showonlylse=true)",
    "state": "sourced",
    "value": "Corporate"
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    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (price-explorer feed api.londonstockexchange.com/api/v1/components/refresh, markets=AIM, categories=EQUITY, showonlylse=true)",
    "state": "sourced",
    "value": "ASQ1"
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    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer (price-explorer feed api.londonstockexchange.com/api/v1/components/refresh, markets=AIM, categories=EQUITY, showonlylse=true)",
    "state": "sourced",
    "value": "MTL"
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   "website": {
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    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.londonstockexchange.com/stock/MTL/metals-exploration-plc/company-page",
    "state": "sourced",
    "value": "http://www.metalsexploration.com/"
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  "licensed": {
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    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "UK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "UK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
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   "listing": {
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    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
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   "name_change": {
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    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
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   "segment_move": {
    "market": "UK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "UK",
  "node": "uk-cm-kg",
  "numbers_hash": "sha256:9f194c235d30ee452c9e1640e3a5af99fc370cb56de42e3663bea38923d12e03",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2022-02-14",
     "kind": "issuer-sponsored",
     "publisher": "Hannam & Partners",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://metalsexploration.com/wp-content/uploads/2022/02/MTL_04_20220214_Model-update-1.pdf",
     "state": "sourced",
     "title": "Model update highlights strong operating FCFs and Senior Debt to be extinguished in H2’22"
    },
    {
     "date": "2022-01-21",
     "kind": "issuer-sponsored",
     "publisher": "H&P Advisory Limited",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://metalsexploration.com/wp-content/uploads/2022/02/MTL_03_20220120_Q4-Results.pdf",
     "state": "sourced",
     "title": "Metals Exploration | Equity Research"
    }
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   "state": "found"
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  "orderability": {
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   "client_categories": [
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    "eligible counterparty"
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   "outcomes": {
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     "determinable": true,
     "signal": "ACM-200"
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    "eligible counterparty": {
     "determinable": true,
     "signal": "ACM-200"
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.uk-cm-kg.ai/book/aio.json",
    "door": "https://mcp.uk-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/uk/product-governance-fca-prod-sourcebook/r1",
   "section": "uk.aio.v16"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.uk-cm-kg.ai/record/AIM/MTL",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://marketsecurities.fca.org.uk/officiallist",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:9f194c235d30ee452c9e1640e3a5af99fc370cb56de42e3663bea38923d12e03",
 "path": "/uk/AIM/MTL",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is METALS EXPLORATION PLC, listed on AIM under the ticker MTL, with ISIN GB00B0394F60 and LEI 2138006CFXWG2OPRV987. Its security type is Corporate, its segment is ASQ1, and its sector is Industrial Metals and Mining [551020]. The jurisdiction on the record is England and Wales (Companies House jurisdiction field). The listing status on the record date of 2026-11-06 is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 63 filings in the twelve months from 2025-11-06 to 2026-11-06, across 52 filing days. The median gap between filing days is 5 days. The latest filing is dated 2026-11-04, is of type ch_capital, and sits 2 days before the record date. The AIM exchange median cadence gap is 7.0 days, the AIM median filings count is 33.5, and the AIM median latency is 4 days. The sector median cadence gap is 6.0 days, the sector median filings count is 47, and the sector median latency is 3.0 days. The issuer's 63 filings are above the AIM median of 33.5 and above the sector median of 47. The issuer's cadence gap of 5 days is below the AIM median of 7.0 days and below the sector median of 6.0 days. The issuer's latency of 2 days is below the AIM median of 4 days and below the sector median of 3.0 days.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is PKF Littlejohn LLP. The location of the auditor is not on the record. Auditor changes are not on the record, because this register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "For the elective professional client category, the outcome is signal ACM-200, and it is determinable. For the eligible counterparty category, the outcome is signal ACM-200, and it is determinable. The rule version is acm-68000/uk/product-governance-fca-prod-sourcebook/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's own investor-relations page names 2 research houses: Hannam & Partners and Panmure Liberum.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 2 openly published research notes: one by Hannam & Partners dated 2022-02-14, and one by H&P Advisory Limited dated 2022-01-21.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "No issuer years are sealed. The market's vintage is not sealed, and no earliest sealed date is recorded for the market. The live record began on 2026-09-11. The years 2021, 2022, 2023, 2024, 2025 and 2026 are sealed in the store but not served as of a date, and the as-of door answers not_sealed.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "12 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
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   "for": "identity.exchange",
   "source": "https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer"
  },
  {
   "for": "identity.isin",
   "source": "https://api.londonstockexchange.com/api/gw/lse/instruments/alldata/MTL"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://find-and-update.company-information.service.gov.uk/company/05098945"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "identity.sector",
   "source": "https://www.londonstockexchange.com/stock/MTL/metals-exploration-plc/company-page"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.uk-cm-kg.ai/events/AIM/MTL"
  },
  {
   "for": "the halt flag",
   "source": "https://marketsecurities.fca.org.uk/officiallist"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.uk-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://metalsexploration.com/investors/broker-notes/"
  },
  {
   "for": "open research",
   "source": "https://metalsexploration.com/wp-content/uploads/2022/02/MTL_04_20220214_Model-update-1.pdf"
  },
  {
   "for": "open research",
   "source": "https://metalsexploration.com/wp-content/uploads/2022/02/MTL_03_20220120_Q4-Results.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.uk-cm-kg.ai/record/AIM/MTL"
  }
 ],
 "title": "METALS EXPLORATION PLC (MTL) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}