Metals Exploration Secures $27 Million Financing for La India Gold Project
Metals Exploration secured $27 million in five-year equipment financing from Banco de America Central for its La India gold project in Nicaragua. The project targets first production in December 2026, with $20.2 million already drawn to replenish cash spent on a Caterpillar mining fleet.
The project's infrastructure is making progress: structural, mechanical, piping and electrical works are about 50% complete, including 93% of bulk earthworks, 92% of civil foundations, 60% of the tailings storage facility and 244,000 tonnes of ore stockpiled on the ROM pad.
A 2 MW grid connection to ENATREL is energised, but Iran-related shipping disruption is delaying some equipment, making logistics and remaining infrastructure the critical schedule risks. The company has already spent $30.5 million on the Caterpillar mining fleet, with $700,000 still payable.