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Metatek Group Receives Department of Energy Contract in the Philippines

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Metatek Group (MTEK.TO) on Tuesday said it received a multi-disciplinary airborne geoscience data acquisition, processing and interpretation contract from th Philippine's e Department of Energy.

The company's integrated airborne geoscience technologies will be used to help improve understanding of the country's subsurface geology and identify areas with potential for future resource development, the company said.

The company is planning the mobilization of its FTG system and the start of in-country operations for the fourth quarter of 2026, it said.

Metatek is a global provider of Enhanced Full Tensor Gravity Gradiometry (eFTG) and Digital Full Tensor Gravity Gradiometry (dFTG), added the company.

"This award establishes Metatek's first program in the Philippines and further expands our sovereign government portfolio across Southeast Asia and the Pacific Rim, where we are now supporting five national governments through eFTG led programs," said Chief Executive Officer Mark Davies. "It also reinforces our strategy of partnering with governments to build the geoscience foundations that support resource discovery, attract investment and underpin sustainable economic development."

The company's shares were last seen up C$0.08, or 2.7%, to C$3.05 on the Toronto Stock Exchange.

Price: $3.05, Change: $+0.08, Percent Change: +2.69%

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