Condor Gold CEO Mark Child Provides Comprehensive Update on La India Project in Nicaragua
May 17, 2024 at 12:21 pm EDT
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Condor Gold CEO Mark Child joined Steve Darling from Proactive to offer a detailed update on the La India project in Nicaragua. The company holds full ownership of the project, which boasts 2.4 million ounces of high-grade gold, evenly distributed between open-pit and underground resources. Notably, about half of the resource is categorized as indicated, with the open-pit section carrying a probable mineral reserve of over 600,000 ounces.
With a vast land package spanning 580 km², Condor Gold sees significant exploration potential. The project is poised for development, having secured necessary permits, purchased surface rights, and completed preliminary site clearing. Moreover, the current surge in gold prices, far exceeding the $1,600 per ounce utilized in the feasibility study, enhances the project's value, potentially leading to substantial increases in EBITDA and NPV.
Highlighting its strategic initiatives, Condor Gold is divesting some assets, with eight companies under NDA and three site visits already conducted. Advanced discussions are ongoing with a gold producer and two other interested parties, aimed at bringing in an adept mine builder to maximize shareholder value and benefit the local community.
Moreover, Condor Gold underscores its dedication to environmental, social, and governance (ESG) standards. The company is deeply engaged with the community, undertaking initiatives such as water purification projects and programs for youth and the elderly, aligning with its commitment to responsible and sustainable operations.
Contact Details
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Condor Gold plc is a United Kingdom-based company, which is a gold exploration and development company with a focus on Nicaragua. The Nicaragua projects include La India, Estrella, and Rio Luna. The Companyâs principal asset is La India Project, Nicaragua, which comprises a prospective land package of 588 sq km (square kilometers) comprising 12 contiguous and adjacent concessions. The Estrella Concession covers an area of 18 square kilometer over the Estrella Gold Mine, located approximately 20 kilometers southwest of Siuna. The Rio Luna is an exploration project, which includes a concession, covering an area of approximately 43 square kilometer in the Central Highlands of Nicaragua. The Company has environmental permits for the Mestiza and America open pits respectively, both located close to La India. The Mestiza open pit hosts 92 Kt at a grade of 12.1 g/t gold. The America open pit hosts 114 Kt at a grade of 8.1 g/t gold.