2023 Ragged Island Lost Key Lodge


Ragged Island – Lost Key Lodge

March 24-31, 2023 - $4595 (excluding airfare & gratuities)

$2300 Deposit required at time of booking to reserve spot

Trip Includes:

  • Lodging at Lost Key Lodge - 1 guest per room for 7 nights
  • Fishing / 2 guests per skiff for 6 days
  • All meals & some alcohol


Not Included:

    • Airfare to Georgetown, Exuma - Bahamas
    • Charter Flight from Exuma to Ragged Island  - $850
    • Tips and personal expenses


TCO Host:

This trip will be hosted by George Costa of TCO State College
CONTACT: email George at georgecosta@tcoflyfishing.com or call (814) 689-3654 x 4 with any questions.


TCO is proud to announce this fantastic opportunity to join us for our Spring of 2022 trip to Lost Key Lodge on Ragged Island.  Located just 60 miles North of Cuba in the Jumentos cays, this remote chain of Bahamian islands has been virtually untouched and unfished by the outside.  We've partnered with Will Blair and Phicol Wallace of Lost Key Lodge to offer this amazing and hard-to-get trip. This will be our third visit to Ragged Island and the fishing has been off the charts!!

This past spring season at Lost Key has turned up huge schools of untouched bonefish pushing 10 lbs. that have never seen a fly.  Permit, tarpon, barracuda, triggerfish, grouper and a myriad of other species also abound in this pristine environment, one of our clients caught over 24 species this past April!  There’s a lot of unexplored water here, an opportunity like this doesn’t come around too often…



Phicol Wallace has lived on Ragged Island his entire life and his family has lived on the Islands since the 1700’s. He is a seasoned blue water captain and is excited to have the opportunity to take you on incredible excursions. He is also the master of logistics and able to handle any and all situations that might arise in such a remote location.

The other partner, Will Blair has spent the past 22 years operating on the Kamchatka Peninsula of Eastern Russia, the most remote wilderness fly fishing programs on planet earth. He brings the fly-fishing enthusiasm to a place virtually untouched by humans and in our own backyard. With his twenty-year partnership in with Victor Rebirkov in Russia, Will is sure he has found a great and reliable Bahamian partner in Phicol Wallace.

We are excited as a team to show you the best fly fishing the Bahamas has to offer.



Think of Lost Key Lodge as your own private pristine Caribbean islands. Accommodating 4 anglers maximum Lost Key Lodge is like no other saltwater experience for the adventure angler. After breakfast and a beautiful boat ride we will reach the flats and start fishing. Like all great flats programs, we will work through the tide at the optimum times and locations. In between tides can be an exciting experience whether it is monstrous barracudas or tricky triggerfish.

We gear everything towards your desires and you having a great and safe time. The fact is you will have untold miles of Cays to explore with your guides. Every moment of your vacation if precious and we will treat it that way.

While we are a sportfishing lodge first and foremost there are other things of great interest around these pristine Islands. The sheer number of fish will astound even the most seasoned explorer. Snorkeling can be almost overwhelming when one sees the volume and diversity of fish and live coral reefs. We do offer the opportunity for spearfishing if anglers so desire.





We understand remote destinations and seek them out.  Lost Key Lodge is such a place.  When one reaches the edge of human influence this is where the largest populations of mature gamefish still exist.

Phicol owns a beautiful 39-foot Hatteras Convertible blue water boat with twin diesel Caterpillar engines. It is rigged and ready to go with the best equipment. Unlike most locations in the Bahamas the cuts and drops for these monster fish are close to the island and long runs are not necessary.

An 18 ft Beavertail Skiff for poling in the back-mangrove bays surrounding the island. It is also a perfect boat for hunting the flats for the huge permit that inhabit the area.

20-foot flats/reef boat., This boat is great for dropping off anglers on the supremely wade-able flats as well as taking anglers to the untouched locations surrounding all the islands as far north as Nurse Channel. Comfortable, clean and fast it is a perfect boat for flats/reef fishing.



Thanks to its forgotten location, the bonefish around Lost Key Lodge are by all accounts the least-pressured in the Bahamas. Throw in Permit and plenty of prehistoric and super aggressive cudas, and you have a near-perfect flats fishery. A plethora of expansive white-sand flats means all the fishing is done by wading or poling from a flats skiff.

There are miles of easily waded white sand flats as well as hidden, unspoiled mangrove creeks. Inland lakes fill up with eager schools of bonefish on the change of every tide.

Remote, rarely visited cays are home to schools of bonefish numbering in the thousands. The diversity and size of the fishery means a completely different fishing experience every day of your trip.


Primarily targeted with 9 or 10 weight rods and tropical floating or intermediate sink tip lines.  Wire leaders are a must, as barracuda are very toothy critters.

Poppers, Bangers, needlefish flies and large Deceivers are all very effective in antagonizing these aggressive fish into striking.


While we don’t have big numbers of permit, a day spent looking for them under the right conditions is likely to result in shots.

There are specific locations – particularly the near shore cays on the Southwest side and some of the ocean flats – holding good populations. And, there are specific periods in the season where their inshore numbers increase significantly.

Permit here are generally in the 15 to 30 lb. range and are best targeted using a 10-weight fly rod with a tropical floating line.


The creek system right by the lodge and the West side flats harbor populations of both resident and migratory tarpon. The tarpon fishery has not yet been patterned to deliver highly consistent fishing. We’ll keep you posted as this fishery further develops.


If blue water is your game, we can accommodate that as well. Off the eastern shore we have large schools of pelagic fish.

There are no creatures more perfectly suited to their environment than the ocean’s top gamefish: the white or blue marlin, tuna, wahoo, dolphin (mahi-mahi) or sailfish. For an angler, there’s no greater challenge than pitting yourself against one of these fish that can provide the adventure of a lifetime. The fight against a big blue marlin, tuna or wahoo can last for hours – and will be an experience you will never forget. Yet no one who’s ever done it would trade away a moment of the experience because there’s nothing more rewarding for a sportsman. While billfish are released to fight again, a wahoo, tuna or mahi-mahi will provide a great feast for the dinner table.

The reef fishing is second to none with large snappers available along with groupers and a myriad of other sport species in natural abundance.  From incredible Mutton Snapper bites to grouper and yellowtail the reefs surrounding Lost Key Lodge are unspoiled and a wonder of natural abundance.


Breakfast will vary depending on the tides and the plan. With only 4 anglers we have a lot of leeway with ensuring we are not only fitting our schedule but the best schedule for the tides and the fishing.

Breakfast from 6-9 AM : Coffee will be available at 6 AM

Lunch will be on the water or at the lodge depending on weather and schedule.  Most days lunch is on the water and is a hearty but light fare.

Dinner will also vary depending on the fishing schedule.  Usually between 7-9 pm


The crescent- shaped Jumento chain compromises islets, cays and rocks stretching over 110 miles. They include Great and Little Ragged Islands, Raccoon Cay, Hog Cay, Knife Cay, Nurse Cay, Flamingo Cay and Double–Breasted Cay.

60 miles north of Cuba Lost Key Lodge is on the edge of the Bahamas in an undamaged Caribbean ecosystem. The waters teem with a wide variety of flats, reef, and pelagic fish. Here natures balance remains undisturbed in the wake of man’s progression.

The beaches are polished silver, trackless and spangled with rare, delicate shells. Rainbow-hued fish that aren’t afraid of you will nose into your feet as you wade and beach comb. Unless you see your angling partners you won’t see another soul. Even conch fishermen who come in from Spanish Wells, Bahamas, to collect conch, are rare. You are alone amid the vast tropical sapphires of sky and sea. The Jumentos are as healthy as any wilderness can be today.

With all the places in the Bahamas why choose Lost Key Lodge? The Jumentos Cays are a place lost in time. There are no other sport fishing operations and zero angler pressure. We are focused on showing you a truly once in a lifetime experience.


Phicol Wallace built Lost Key Lodge in collaboration with a marketing firm in the US back in 2009. After one season this American firm dissolved and Phicol busy with four children and running Bahama Power and Light for Ragged Island decided to wait until his kids were older and he could find a reliable American Partner. This took almost ten years. Once Phicol and Will struck up their partnership in the fall of 2018 Phicol set about remodeling and updating the virtually new lodge. He is a skilled craftsman with the drive to make everything as perfect as humanly possible.

Lost Key Lodge was originally designed and built with the advice of American anglers.

5 rooms allow Lost Key Lodge to offer single room occupancy as well!

Lost Key Lodge is comfy and clean. All rooms are air conditioned, with tile floors and private baths with showers. In the lounge area you’ll find a bar (tabs are settled at the end of your trip), a 52 flat-screen satellite TV and a fly-tying bench. Built in 2009 and rebuilt since Irma in September of 2017 it has all the amenities any angler might need for a comfortable stay. The lodge was built on a hill to take advantage of cooling breezes and to provide a scenic ocean side view. The boats are about a 2-minute walk.



Once in Exuma we are chartering a private flight to Ragged Island, cost is $850 round trip per person

This trip will be hosted by George Costa of TCO State College, email him at georgecosta@tcoflyfishing.com or call (814) 689-3654 x 4 with any questions.


Recommended Gear to bring:

      • 2-3 rods in 8-10 weight with reels and floating tropics lines to match
      • An assortment of flats flies
      • Leaders and tippet
      • Protective sun gear
      • 2 pairs of polarized sunglasses (yellow and amber lenses)
      • Sunscreen and a great attitude!


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