Metals Exploration PLC (AIM:MTL) shares gained more than 10% after it told investors that construction work at the La India gold project in Nicaragua is on track.
Delivery of the Rock Creek processing plant has been completed at the site, and plant erection is scheduled for October.
Earthworks for the processing facility and mine industrial area are about 95% complete. Site buildings and infrastructure are under construction following the relocation of artisanal miners from the pit area.
“We are delighted with the progress being made at La India as we continue to advance our development programme," chief executive Darren Bowden said.
"The current progress reinforces our target of gold production commencing by Q4 2026. I look forward to visiting the site again soon and providing further updates as work advances."
In London, shares in Metals Exploration were up 10.6% changing hands at 14.6p, valuing the business at just over £423 million.