Metals Exploration says La India development on schedule

(Sharecast News) - Metals Exploration said on Tuesday that development of its La India gold project in Nicaragua was progressing on schedule, with construction works nearing completion and plant assembly due to begin in October.

The AIM-traded company confirmed that the Rock Creek processing plant, which arrived ahead of schedule at a Nicaraguan port in August, had now been unloaded and delivered to site.

Mine development earthworks for the processing facility and industrial area were about 95% complete, with the run-of-mine pad in its final stages.

Construction of site buildings and infrastructure is also advancing, following the agreed relocation of artisanal miners from the project area.

"We are delighted with the progress being made at La India as we continue to advance our development programme," said chief executive Darren Bowden.

"I recently visited the La India site and was pleased to see the project coming to life, with earthworks being completed in the mine industrial area and mine pre-strip activities well under way, following the fair and constructive agreement being reached with the artisanal miners to vacate the mining areas."

He added that the Rock Creek plant had now been unloaded at the port in Nicaragua, and all components already delivered to site, in preparation for assembly, on schedule, in October.

"The current progress reinforces our target of gold production commencing by the fourth quarter of 2026."

At 1432 BST, shares in Metals Exploration were up 9.02% at 14.39p.

Reporting by Josh White for Sharecast.com.