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Overview

Metals Exploration is the 100% owner of the La India Project in Nicaragua, following the acquisition of Condor Gold, completed 15 January 2025. The Company's Nicaraguan concession package now covers 1,222 km², with numerous high-priority exploration targets beyond the main La India deposit.

Construction at La India is being funded from the Company’s existing and future cash reserves generated at Runruno, and is over 50% complete. Process plant foundations, general infrastructure and bulk earthworks are progressing ahead of schedule, and major equipment procurement is advanced — keeping the project on track for commissioning and first gold in December 2026.

La India is targeting average production of 145,000 oz gold per annum over a 12+ year mine life (open pit and underground).

Key Points
  • Metals Exploration acquired the La India Project in Nicaragua through the acquisition of Condor Gold plc (completed January 2025).
  • Construction is >50% complete, on schedule and on budget for first gold pour in December 2026.
  • Land package extended to 1,222 km², with numerous high-priority exploration targets beyond the main deposit.
  • MTL has received a 25-year renewal of the La India mining concession, effective from January 2027.
  • Indicated + Inferred Mineral Resource of 2.3 Moz at 3.9 g/t Au across the district.
Construction & Development Status (as at June 2026)
  • Construction commenced May 2025 and is >50% complete
  • Process plant foundations, infrastructure and bulk earthworks progressing ahead of schedule
  • Major equipment installation is well advanced
  • On track for commissioning and first gold pour in December 2026
La India - Strong Economics:
  • Target production: 145,000 oz gold per annum
  • Low initial capex: US$177m
  • 12+ years of potential mine life (open pit & underground)
 
 
 
 
 
 
 
 
 
 
 
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Edificio Kakaú, 5to piso,
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