Member Info for Rumbera

From Book5 in advfn

Good Afternoon,

I expect that tomorrow the company will clarify that the 27,000 hectares of exploration concessions (out of the ~61,000 announced recently) are located in the South Caribbean Coast Autonomous Region (RACCS) of Nicaragua. As per La Gaceta (N°. 80 del 07/05/2026), mining concessions continue to be actively granted; for example, a ~27,000 ha concession (“Topacio”) covering Muelle de los Bueyes and El Rama has been awarded to India Gold S.A., which is linked to Metals Exploration following its acquisition of Condor Gold and the La India project (htTps://www.articulo66.com/2026/05/07/nuevas-concesiones-mineras-india-gold-nicaragua/).

This appears to form a long corridor roughly 30–40 km in length, with a width varying between 5 and 10 km.This is a largely unexplored tropical forest area, offering clear potential to expand the company’s exploration footprint over time and providing useful strategic optionality as the project develops.

That said, there are reports of illegal artisanal mining in the area, including near El Muelle de los Bueyes. Local authorities have raised concerns about environmental impacts—particularly contamination of water sources and damage to biodiversity (see: hxxps://despacho505.com/nacionales/10735-alarma-en-muelle-de-los-bueyes-por-contaminacion-d/). The presence of illegal miners, while clearly an issue, does at least suggest that gold is present, even if this has not yet been converted into defined reserves.

There are also indications of increasing Chinese presence in this broader Caribbean area, and Metals Exploration has participated in a wider concession program there.

In my view, there’s likely more upside here than the market is currently pricing in over the coming years—particularly around the main La India pit, especially if the gold price continues to strengthen. This is one where you’ll need to stay tuned for a few more years.

Overall, it feels like a story that will take time to play out, so a degree of patience is needed while more information and exploration results come through.

Agree