REG - Metals Exploration - Gold Processing Plant in Transit to Nicaragua

Metals ExplorationAnnouncement

Mon 07:00

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RNS Number : 7149T  Metals Exploration PLC  04 August 2025

4 August 2025

METALS EXPLORATION PLC

Gold Processing Plant in Transit to Nicaragua

Metals Exploration plc (AIM: MTL) (the "Company", or together with its
subsidiaries, the "Group"), a gold production, exploration, and development
company with assets in the Philippines and Nicaragua, is pleased to announce
that the Rock Creek process plant purchased in March 2025 (the "Rock Creek
Plant") is in transit to Nicaragua after recently being fully disassembled and
loaded upon an ocean freighter for transport.

The ocean freighter departed Nome, Alaska, on 31 July 2025, almost one month
ahead of the original purchase completion timetable, and is expected to dock
in Nicaragua in mid-August 2025. Land transport of the Rock Creek Plant to the
Group's La India project area in Nicaragua is forecast to be completed during
September 2025, ready for the commencement of plant erection activities now
scheduled for late October 2025.

The Rock Creek Plant, a fit for purpose gold ore processing and concentrating
plant (including crushers, conveyors, grinding ball mill, Sepro Falcon gravity
circuit, carbon in leach (CIL) circuit, elution and smelting equipment and
laboratory), and certain related assets, were acquired for a purchase price of
US$9,700,000. The La India process flowsheet has been designed such that the
Rock Creek Plant will be able to process up to 1.4 million tonnes ("Mt") per
annum, with additional built-in potential capacity to be upgraded to 1.8Mt per
annum.

Darren Bowden, CEO of Metals Exploration, commented:

"The ahead-of-schedule shipment of the Rock Creek Plant marks another
important milestone in our fast-track development of the La India project. The
efficient disassembly and early dispatch of the plant from Alaska is a
testament to the commitment and capability of our team and partners. With
delivery and reassembly now firmly scheduled, we remain confident in our
timeline to commence plant erection in October and maintain our goal of first
gold production in Q4 2026. Importantly, this continues to demonstrate our
disciplined approach to capital deployment and reinforces our strategy to
deliver near-term value while managing risk and cost."

 

For further information, please contact or visit:

 Metals Exploration PLC
 Via BlytheRay                                  +44 (0) 207 138 3204

 Nominated & Financial Adviser:                 STRAND HANSON LIMITED
 James Spinney, James Dance, Rob Patrick        +44 (0) 207 409 3494
 Joint Broker:                                  HANNAM & PARTNERS
 Matt Hasson, Franck Nganou                     +44 (0) 207 907 8500

 Joint Broker:                                  PANMURE LIBERUM
 Scott Mathieson, Amrit Mahbubani, Zak Wadud    +44 (0) 203100 2000

 Public Relations:                              BLYTHERAY
 Megan Ray, Said Izagaren                       +44 (0) 207 138 3204

 

Web:                      www.metalsexploration.com
(http://www.metalsexploration.com)

X:                            @MTLexploration
(https://twitter.com/MTLexploration)

LinkedIn:               Metals Exploration
(https://www.linkedin.com/company/metals-exploration-plc)

 

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