Metals Exploration plc has mobilised a drill rig to start geotechnical and exploration programmes at the La India gold project in Nicaragua.
CVRs
The company said that geotechnical drill holes would advance mine development studies before exploration drilling tests resource extensions north of the current proposed open pit.
The rig arrived on site on 23 April 2025.
Metals added that the issue of contingent value rights of the shareholders of its acquired previous project owner, Condor Gold plc, is also from the same date.
Under the acquisition terms, Condor holders of contingent value rights will receive their pro rate share of “certain potential deferred consideration”, provided that certain defined events occur during the five-year period following mobilisation of a suitable drill rig to La India.
The five-year period expires on 22 April 2030.