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Metals Exploration secures $27M to push Nicaragua gold project to 2026
The financing brings La India closer to its December 2026 first-production target, with key process equipment and site work already well underway.
Metals Exploration has secured $27 million in equipment financing for its La India gold project in Nicaragua, where first production is targeted for December 2026, Mining.com reported. The company said it expects the funding to strengthen liquidity as construction advances toward commissioning.
The AIM-listed miner previously drew $20.2 million from a five-year Banco de America Central facility, which it used to buy its Caterpillar mining fleet. Metals Exploration said it will use the remaining $6.8 million for additional equipment arriving in Nicaragua.
Management highlighted progress at the process plant, including the ball mill in its final position, the SAG mill ready to follow, and carbon-in-leach tank fit-out nearing completion. It also said structural and mechanical, piping, and electrical installation is about 50% complete, with 53 of 60 carbon-in-leach tank rings installed, leach tanks about 80% complete, and detox tanks roughly 70% finished.
The company added that structural work on major infrastructure is progressing, including bulk earthworks at 93% complete, civil foundations at 92%, and pre-stripping of the open pit at 71%. It also noted that disruptions to international shipping related to the conflict in Iran have delayed some deliveries, while a 2-MW grid connection has been energized for operations and commissioning.
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