공지 • Dec 11
Metals Exploration plc Provides A Comprehensive Update on Development and Construction Progress At Its La India Gold Project in Nicaragua
Metals Exploration plc provided a comprehensive update on development and construction progress at its La India gold project in Nicaragua. Development and construction activities at La India continue to advance on schedule, reflecting the strong project momentum displayed since Metals Exploration acquired the Project in early 2025. La India continues to benefit from a strengthened Nicaraguan management team, strong contractor performance, improved community relations, and rapid mobilisation of the processing plant and equipment. Highlights: Development schedule - The development remains ahead of schedule at 24% complete at the end of November compared to the 20% forecast, and is expected to be fully funded from FY2026 Runruno gold mine cash flow. Processing Plant Capacity Upgrade - The processing plant (the "Plant") throughput capacity design has been upgraded to 1.8 million tonnes per annum ("mTpa") from 1.4 mTpa, in anticipation of future growth opportunities. Laboratory setup - The on-site laboratory building is nearing completion and scheduled to be operative from February 2026. Earthworks and Site Preparation - Bulk earthworks for the processing plant and technical services area are complete. Pre-stripping of the open pit mining area is on schedule, at approximately 17% complete. ROM pad - The run-of-mine ("ROM") pad is complete and the first ore has commenced stockpiling. Site Infrastructure - Construction of key non-process infrastructure is progressing ahead of schedule; with several camp accommodation buildings completed and operational. Community Relations - Agreement was reached with artisanal miners to acquire land rights from the local artisanal Cooperativa. All material equipment items and tenders have been ordered and awarded, with the exception of the electrical contractor. Site Laboratory The on-site laboratory building are nearing completion and is scheduled to be operative from February2026, with Interteck having been selected as the preferred supplier to manage the on-site laboratory. Being able to assay drill core locally will significantly speed up the time taken to receive assay results from the Company's drilling activities. Currently, drill samples need to be exported to Canada, resulting in an approximate 8-week turnaround to receive drill assay results. The Company expects to issue a comprehensive exploration update in February 2026. Significant progress has been made on mine development earthworks associated with the site and industrial area. Bulk earthworks for the processing Plant and technical services area are complete, and site access to the tailings storage facility ("TSF") is approximately 90% complete. ROM pad earthworks are completed. Magazine platform and access earthworks are completed. Across the broader development zone, pre-stripping earthworks in the northern phase of the La India open pit (where mining will commence) is 17% complete. Mapping and channel sampling conducted in this area is adding to resource understanding. Refer to the RNS dated 28 November 2025 regarding an extension to the initial pit. Site Buildings and Infrastructure Construction of non-processing site infrastructure is advancing rapidly, supported by the agreed relocation of artisanal miners from the Project site and pit area, as announced on 8 August 2025. Construction of various key operational buildings, including maintenance workshops, a laboratory, offices, camp accommodation, and the fuel storage facility, are all progressing ahead of schedule, with a number of these fully functional and operational. Roads and access routes within the project area are being developed and upgraded. Tailings Storage Facility The Company has acquired all the land it requires for the TSF and has submitted its TSF designs to the government for final permits. A new access road to the TSF, which does not pass through local settlements, is 90% complete. TSF design is 80% complete and the tender to construct stage 1 of TSF dam has been issued. The Company expects final government permits for the TSF design imminently. Community Relations and Artisanal Miner Agreements The Company continues to receive strong support from local communities in Nicaragua. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: "ex expects, "plans", "ant anticipates", "ant anticipates, "forecasts", "intends", "estimates", "estimates", "projects", "pot potential" or variations of such words and similar expressions of such words and similar expressions. Forward-looking statements also include reference to events or conditions that will, may, may, may, could, may, may, could or should occur.