Metals Exploration said it had commenced an operational review at its Runruno gold project in the Philippines.
Output in the three months through December amounted to 494,184 tonnes, with the rate affected by reduced mining fleet availability and heavy rains associated with Typhoon Rosita.
The reduced availability was due to scheduled maintenance and component refitting to prolong the life of the fleet, the company said.
Discussion with lenders were ongoing to refinance the group's debt position, it added.
At 9:43am: (LON:MTL) Metals Exploration PLC share price was -0.08p at 1.18p