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Metals Exploration PLC on Friday said it ‘eagerly’ awaits the start of gold production at La India in Nicaragua, as it reported a rise in annual profit as the price of gold surged. The London-based mining company with projects in the Philippines and Nicaragua said pretax profit jumped 30% to $45.1 million in 2025 from $34.6 million in 2024. Revenue grew 9.0% to $208.4 million from $191.1 million. Metals Explorations’ average realised gold sales price was $3,154 per ounce in 2025, up 36% from $2,312 in 2024. Cost of sales increased 5.2% to $135.4 million from $128.6 million, while administrative costs came in 28% higher at $11.5 million compared to $9.0 million. The company recommended no dividend payment for 2025, unchanged from 2024. Looking ahead, Chair Steven Smith said: ‘The board eagerly anticipates the commencement of gold production at La India and looks forward to development updates throughout the course of FY2026, ahead of the first gold pour in December 2026. In addition, the group will continue to undertake exploration activities across its portfolio in the Philippines and Nicaragua and will continue to evaluate further growth and merger & acquisition opportunities.’ Metals Exploration shares fell 4.2% to 13.70 pence each on Friday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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