http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Wed, 28 Jun 2017 01:24:43 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Directors Dealing ]]> http://www.proactiveinvestors.com/companies/rns/170523cnr0080g/ Tue, 23 May 2017 15:02:00 -0400 http://www.proactiveinvestors.com/companies/rns/170523cnr0080g/ <![CDATA[News - Condor Gold unveils “excellent” results from initial drill programme at its La India Project in Nicaragua ]]> http://www.proactiveinvestors.com/companies/news/178116/condor-gold-unveils-excellent-results-from-initial-drill-programme-at-its-la-india-project-in-nicaragua-178116.html Condor Gold PLC (LON:CNR, OTCQX:CNDGF) has unveiled “excellent” drill results from an initial 2,000m drill programme on the Mestiza Vein Set at its La India Project in Nicaragua.

In a statement, the AIM-listed firm said the initial seven drill holes have focused on the Tatiana Vein and results to date have been excellent and broadly validated the Soviet era drilling.

Importantly, Condor said, the current drilling has, with only one exception, achieved 100% recovery of the vein zone, including late fault breccias along the structure.

Condor said a second drill rig has arrived on site and the initial programme increased to 3,000m.

In reponse, Condor shares were 3.6% higher in early moring trading, up 2.0p at 57.5p.

READ: Condor Gold expects good US response to La India story

Mark Child, Condor’s chairman and CEO said: “The initial drill results at Mestiza of 3.3m at 28.3 g/t gold and 2.65m at 12.6 g/t gold are highly encouraging.

“The objective is to convert an historic Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold for 785,694 oz gold to Canadian NI 43-101 standard.

“This will boost the current NI 43-101-compliant Inferred Mineral Resource at Mestiza of 1,490 kt at 7.47 g/t for 333,000 oz gold.”

Condor commenced drilling with one  rig on Mestiza on March 23, to test the Soviet drill intercepts.

Soviet-backed drilling in 1991 estimated a Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold for 785,694 oz gold at Mestiza.

The bulk of the resources are contained within the Tatiana vein, the largest of the four main veins on Mestiza.

  -- Adds share price --

]]>
Mon, 22 May 2017 08:25:00 -0400 http://www.proactiveinvestors.com/companies/news/178116/condor-gold-unveils-excellent-results-from-initial-drill-programme-at-its-la-india-project-in-nicaragua-178116.html
<![CDATA[RNS press release - Drill Results Mestiza ]]> http://www.proactiveinvestors.com/companies/rns/170522cnr7325f/ Mon, 22 May 2017 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/170522cnr7325f/ <![CDATA[RNS press release - Annual Financial Report ]]> http://www.proactiveinvestors.com/companies/rns/170519cnr5914f/ Fri, 19 May 2017 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/170519cnr5914f/ <![CDATA[News - Upside at Condor Gold’s La India project all set to attract in new US investors ]]> http://www.proactiveinvestors.com/companies/news/176924/upside-at-condor-golds-la-india-project-all-set-to-attract-in-new-us-investors-176924.html “It’s the biggest resource of any Aim-listed company,” says Mark Child of the 2.4 mln ounce La India gold project in Nicaragua.

It’s a straightforward enough statement, but one that’s perhaps not been appreciated as much by the UK market in recent months as it might have been at the height of the gold boom.

Hence Child’s decision to take an OTCQX listing for Condor Gold Limited (LON:CNR) and give the company some exposure to high net worth investors in the USA.

CLICK HERE: For a daily round-up of all the Proactive news

“There are three OTC markets boards,” explains Child. “The QX is the premier blue chip board. Marks & Spencer is on it. It is DTC-eligible so US retail can buy the shares but it means your regulator remains in London.”

That’s ideal for Child, who is quite happy with having Condor regulated in the UK, but is equally keen for Condor’s shares to show up on the trading screens of US investors.

“It makes an awful lot of sense for me to access US retail high net worths. Institutions are going to wait for a placement – typically they don’t buy in the secondary.”

So, off to the OTCQX it is. Trading commenced on 24 April, and although it’s too early to say how large the volumes will shape up to be, the timing looks propitious.

The mining bear market is well and truly over, even if we haven’t quite yet entered a full-blown bull phase.

“The strategy is twofold,” says Condor boss

There’s money around for mining, as Child has adeptly demonstrated. Condor raised £5.2 mln in February of this year, money it is now deploying on the ground at La India.

“The strategy is twofold,” says Child. “The first part is to permit and construct a 100,000 ounce per annum plant taking feed out of a single pit.”

It’s tempting to refer to this as a big pilot plant, since optimisation studies conducted by Whittle Consulting produced a range of production scenarios for La India, with the largest running to 165,000 ounces per year.

Which brings us nicely on to the second part of the strategy.

This, says Child, involves showing that La India in fact lies within “a major gold district.”

The early manifestations of that theory have allowed for the development of the expanded production scenarios. But there could be much more.

Ross Beaty now Condor's biggest shareholder

It’s on the strength of this potential that the well-known mining entrepreneur and investor Ross Beaty has come onto the Condor register in a big way – he’s now the company’s biggest shareholder.

And it’s to test this hypothesis further that the company has already embarked on a 10,000 metre drill campaign that aims both to expand the existing resource at La India and to undertake scout drilling to attempt to identify another major vein.

Notably,, there’s a NI 43-101 compliant resource of 334,000 ounces on the Mestiza vein set, excluded from the mining studies in the PFS and PEAs but the same area has a resource of 780,000 oz gold at 10 grams per tonne to Russian oviet classification.

“We’ve got the rig up there now,” says Child. “What we’re trying to do is convert the Soviet resource into 43-101. That could represent a material change for the company. We think we can get 700,000 ounces into 43-101 at 7.5 grams per tonne, which paves the way for another 40,000 ounces per year of production.”

All-in that would take the potential production from La India up to 200,000 ounces per year, 100,000 from open pit and 100,000 from underground.

Whether it will actually shape up like that remains to be seen. But there’s certainly plenty there to get a US audience excited, especially since the gold price has shown considerable signs of life lately.

CLICK HERE: For a daily round-up of all the Proactive news ]]>
Wed, 26 Apr 2017 11:26:00 -0400 http://www.proactiveinvestors.com/companies/news/176924/upside-at-condor-golds-la-india-project-all-set-to-attract-in-new-us-investors-176924.html
<![CDATA[RNS press release - Secondary Trading on the OTCQX Best Market ]]> http://www.proactiveinvestors.com/companies/rns/170424cnr0538d/ Mon, 24 Apr 2017 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/170424cnr0538d/ <![CDATA[RNS press release - Significant Shareholders ]]> http://www.proactiveinvestors.com/companies/rns/170306cnr6033y/ Mon, 06 Mar 2017 10:08:00 -0500 http://www.proactiveinvestors.com/companies/rns/170306cnr6033y/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.com/companies/rns/170301cnr2002y/ Wed, 01 Mar 2017 09:40:00 -0500 http://www.proactiveinvestors.com/companies/rns/170301cnr2002y/ <![CDATA[RNS press release - Director Dealings ]]> http://www.proactiveinvestors.com/companies/rns/170220cnr2448x/ Mon, 20 Feb 2017 12:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/170220cnr2448x/ <![CDATA[RNS press release - Condor raises ?5.242 million ]]> http://www.proactiveinvestors.com/companies/rns/170220cnr2447x/ Mon, 20 Feb 2017 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/170220cnr2447x/ <![CDATA[RNS press release - Drilling Results ]]> http://www.proactiveinvestors.com/companies/rns/170127cnr2554v/ Fri, 27 Jan 2017 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/170127cnr2554v/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/170113cnr1242u/ Fri, 13 Jan 2017 08:51:00 -0500 http://www.proactiveinvestors.com/companies/rns/170113cnr1242u/ <![CDATA[RNS press release - Directors Dealing ]]> http://www.proactiveinvestors.com/companies/rns/170113cnr0782u/ Fri, 13 Jan 2017 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/170113cnr0782u/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/170109cnr7246t/ Mon, 09 Jan 2017 17:11:00 -0500 http://www.proactiveinvestors.com/companies/rns/170109cnr7246t/ <![CDATA[RNS press release - Exploration Update ]]> http://www.proactiveinvestors.com/companies/rns/161215cnr8934r/ Thu, 15 Dec 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/161215cnr8934r/ <![CDATA[RNS press release - Settlement of NSR Dispute ]]> http://www.proactiveinvestors.com/companies/rns/161209cnr3685r/ Fri, 09 Dec 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/161209cnr3685r/ <![CDATA[Media files - Condor Gold and the potential for a global sized gold district ]]> http://www.proactiveinvestors.com/companies/stocktube/6364/condor-gold-and-the-potential-for-a-global-sized-gold-district-6364.html Thu, 10 Nov 2016 09:23:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/6364/condor-gold-and-the-potential-for-a-global-sized-gold-district-6364.html <![CDATA[RNS press release - Scout Drilling Commences ]]> http://www.proactiveinvestors.com/companies/rns/161110cnr8024o/ Thu, 10 Nov 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/161110cnr8024o/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.com/companies/rns/160930cnr4223l/ Fri, 30 Sep 2016 17:59:00 -0400 http://www.proactiveinvestors.com/companies/rns/160930cnr4223l/ <![CDATA[RNS press release - Grant of Options ]]> http://www.proactiveinvestors.com/companies/rns/160927cnr9983k/ Tue, 27 Sep 2016 17:11:00 -0400 http://www.proactiveinvestors.com/companies/rns/160927cnr9983k/ <![CDATA[RNS press release - Half-year Report ]]> http://www.proactiveinvestors.com/companies/rns/160926cnr7546k/ Mon, 26 Sep 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160926cnr7546k/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/160920cnr3571k/ Tue, 20 Sep 2016 15:07:00 -0400 http://www.proactiveinvestors.com/companies/rns/160920cnr3571k/ <![CDATA[RNS press release - Conversion of Warrants - Replacement ]]> http://www.proactiveinvestors.com/companies/rns/160914cnr8587j/ Wed, 14 Sep 2016 14:52:00 -0400 http://www.proactiveinvestors.com/companies/rns/160914cnr8587j/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.com/companies/rns/160913cnr7216j/ Tue, 13 Sep 2016 14:06:00 -0400 http://www.proactiveinvestors.com/companies/rns/160913cnr7216j/ <![CDATA[RNS press release - Exploration Update ]]> http://www.proactiveinvestors.com/companies/rns/160701cnr8785c/ Fri, 01 Jul 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160701cnr8785c/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.com/companies/rns/160623cnr1252c/ Thu, 23 Jun 2016 15:07:00 -0400 http://www.proactiveinvestors.com/companies/rns/160623cnr1252c/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/160606cnr2770a/ Mon, 06 Jun 2016 08:19:00 -0400 http://www.proactiveinvestors.com/companies/rns/160606cnr2770a/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/160601cnr7804z/ Wed, 01 Jun 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160601cnr7804z/ <![CDATA[RNS press release - Annual Financial Report ]]> http://www.proactiveinvestors.com/companies/rns/160526cnr3304z/ Thu, 26 May 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160526cnr3304z/ <![CDATA[RNS press release - IFC Exercises Non Dilute Clause ]]> http://www.proactiveinvestors.com/companies/rns/160517cnr3979y/ Tue, 17 May 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160517cnr3979y/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.com/companies/rns/160504cnr1377x/ Wed, 04 May 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160504cnr1377x/ <![CDATA[News - Condor Gold PLC brings Ross Beaty into its district play in Nicaragua ]]> http://www.proactiveinvestors.com/companies/news/124396/condor-gold-plc-brings-ross-beaty-into-its-district-play-in-nicaragua-124396.html Shares in Condor Gold PLC (LON:CNR) were more than three per cent better off in early trade in London this morning, after the company revealed that renowned Canadian mining investor Ross Beaty was one of the key participants in a £2.6 mln placing.

The money will be raised via the issue of 6.45 mln new units priced at 40p each, with each unit consisting of one share and two-thirds of a warrant entitling the holder to purchase an additional share at 60p.

Adding unlisted warrants to a share placing is a classic Canadian fundraising tactic and will no doubt have been driven in part by a desire to secure Beaty as an investor.

Following the issue of the new shares, Beaty will hold just over 7% of the company. But he’s not the only Canadian to have found the terms attractive enough to come on board this time round.

A specialist resource fund affiliated to Sprott Inc., probably the biggest name of all in Canadian junior mining investment, has also come on board.

The arrival of these two Canadian giants on the Condor register marks a significant step change in the corporate development of the company, after it emerged from a mandatorily-imposed bid period at the end of last year and subsequently released highly attractive results from a pit optimisation study run at the La India gold project in Nicaragua by the famous Whittle Consulting team.

That study showed that La India has the potential to produce between 91,000 and 165,000 ounces of gold over the first five years of mining, and  has an average NPV US$195M. It willhave been a significant factor in convincing Sprott and Beaty to sign up.

But a technical team from Beaty’s organisation has been down to La India to see it for themselves, and their positive appraisal is a significant boost for the project’s credibility.

“They like the 2.4 mln ounces that we have,” says Condor’s executive chairman Mark Child, “and they like the four grams grade. But then they also like the fact that La India hosts a big gold deposit and that we’re understanding it much, much more as a district play.”

And it’s that aspect that Child believes is a huge tick in the box this time round. “These are people who know what we’re looking for here,” he says. “Sometimes it’s difficult to get that across to the market.”

But when Canada’s biggest mining names endorse your asset and your strategy with hard cash, that’s worth shouting about.

The plan now, buoyed by the new cash, is to de-risk the project by securing full permitting and land access.

Gold, reckons Child, is “underpinned” by negative interest rates globally, and by the dovish noises made by Janet Yellen last week.

That sets a good context for further progress to take place at La India as Condor begins to deploy the new money.

]]>
Mon, 04 Apr 2016 16:33:00 -0400 http://www.proactiveinvestors.com/companies/news/124396/condor-gold-plc-brings-ross-beaty-into-its-district-play-in-nicaragua-124396.html
<![CDATA[News - Canadian mining entrepreneur buys into Condor Gold PLC ]]> http://www.proactiveinvestors.com/companies/news/124356/canadian-mining-entrepreneur-buys-into-condor-gold-plc-124356.html Canadian mining investor Ross Beaty has taken a sizeable stake in Condor Gold (LON:CNR) through a placing to raise £2.6mln for the Nicaragua-focused explorer.

Beaty, who founded and is currently chairman of Pan American, one of the world's largest silver producers, subscribed for £1.5mln worth of the units and will have a 7.18% stake post the placing on an undiluted basis.

The units were sold at 40p each and comprised one share and two-thirds of a warrant exercisable at 60p.

Other heavy backers of the placing included a specialist resource fund, major shareholder Jim Mellon and executive chairman Mark Child.

The cash will cover the US$670,000 needed for the purchase of the Espinito-Mendoza concession and the purchase of land for a mine at the La India prospect.

Condor submitted an Environmental Impact Assessment in November as part of its application for an environmental permit for a 2,800tpd processing plant capable tp produce approximately 100,000 oz gold per annum at an all in sustaining cash cost of US$700 per oz gold.

Site visits and key meetings have been held with several government ministries, said the company, while offers have been made to to buy the surface rights for approximately 800 hectares of the area affected by a mine in the future. 

]]>
Mon, 04 Apr 2016 07:50:00 -0400 http://www.proactiveinvestors.com/companies/news/124356/canadian-mining-entrepreneur-buys-into-condor-gold-plc-124356.html
<![CDATA[RNS press release - News ]]> http://www.proactiveinvestors.com/companies/rns/160404cnr9856t/ Mon, 04 Apr 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160404cnr9856t/ <![CDATA[RNS press release - Renegotiation of terms to acquire Espinito Mendoza ]]> http://www.proactiveinvestors.com/companies/rns/160321cnr6649s/ Mon, 21 Mar 2016 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/160321cnr6649s/ <![CDATA[RNS press release - Directors Dealing ]]> http://www.proactiveinvestors.com/companies/rns/160126cnr0666n/ Tue, 26 Jan 2016 16:16:00 -0500 http://www.proactiveinvestors.com/companies/rns/160126cnr0666n/ <![CDATA[RNS press release - Whittle Consultings Optimisation Study Results ]]> http://www.proactiveinvestors.com/companies/rns/160122cnr6571m/ Fri, 22 Jan 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/160122cnr6571m/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/160121cnr5182m/ Thu, 21 Jan 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/160121cnr5182m/ <![CDATA[RNS press release - Termination of Strategic Review & Sale Process ]]> http://www.proactiveinvestors.com/companies/rns/160118cnr0989m/ Mon, 18 Jan 2016 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/160118cnr0989m/ <![CDATA[RNS press release - EIA Permit Application Submitted ]]> http://www.proactiveinvestors.com/companies/rns/151201cnr4689h/ Tue, 01 Dec 2015 07:00:00 -0500 http://www.proactiveinvestors.com/companies/rns/151201cnr4689h/ <![CDATA[News - Whittle optimisation study works wonders at Condor Gold’s La India project ]]> http://www.proactiveinvestors.com/companies/news/116689/whittle-optimisation-study-works-wonders-at-condor-golds-la-india-project-116689.html Within the trade, the benefits of the employing Whittle Consulting to enhance the economics of a planned mine have long been recognised.

Jeff Whittle founded his first mine optimisation business way back in 1984, sold it, and then developed another one along similar lines.

It’s all about using the proprietary Whittle optimisation software to enhance the economics of a mine by modelling pit design, scheduling and a host of other features.

But because the main customers tend to be the major mining companies, it’s not often that the full impact of a Whittle study can see the light of day.

Condor Gold (LON:CNR) is one recent exception, and Condor’s chief executive Mark Child is in no doubts about the improvements Whittle optimisation have made to Condor’s plans for the La India gold project in Nicaragua.

“The results have stunned us,” he says. “They are far better than we thought they would be.”

And on many levels too.

Condor’s original pre-feasibility and preliminary economic studies were prepared by SRK Consulting back in December 2014.

These studies outlined three potential development scenarios: a mining project solely focussed on an open pit at La India, a mining project centred on La India but incorporating satellite pits too, and a project incorporating both open pit and underground mines.

Whittle went to work on all of these scenarios, and the results are startling.

The basic open pit, which was originally modelled around 674,000 contained indicated ounces has now been upgraded to 866,000 ounces. Under the Whittle optimisation it will now produce an average of 91,000 ounces over the first five years of production, instead of the 76,000 ounces that was originally modelled.

That’s a production improvement of 20% per annum. over the first five years on a theoretical reserve basis. If a a small amount of inferred material and production is included it rises to 101,000 ounces from a single pit

But there’s more.

The production improvement for the combined open pit plus satellite operations adds up to an even better 25%, as contained ounces jump from 827,000 ounces to 1.06mln ounces, and average annual gold production over the first five years jumps from 94,000 ounces to 118,000 ounces.

For the open pit and underground combined operation the improvement is back at 20%, based on an increase in contained ounces from 1.3mln to 1.55mln and an increase in production over the first five years from an originally projected 138,000 ounces to a newly modelled 165,000 ounces per annum.

How has this all been achieved?

Ah, that would be telling, and the precise workings of Whittle’s software remains a closely guarded secret. They utilise 10 techniques across the mining value chain.

But the modelling is clear enough, the data is held by Condor, and the improvements are there to be made.

Whittle, explains Child, has simply taken ten existing studies and re-worked them with an unremitting focus on the economics.

Thus, under the Whittle modelling although recoveries may not be at their maximum potential, from a cost point of view varying the ratio of recoveries to grinding costs can make a lot of sense.

In the case of Condor’s project, there are several such examples.

“Whittle do their own pit planning and pit phasing,” says Child. “The pit shells have gone deeper. They’re now 30% bigger. Why? – because we’ve got an average 3 gram open pit material that increase in grade at depth. What was previously deemed high grade underground is now open pittable.”

But he emphasises that in spite of the increases in size and mooted output, several other key metrics remain the same.

“The capex is the same,” he says. “The opex is the same. The all-in sustaining cash cost is the same at under US$700 per ounce. An incremental 20% to 25% more gold production per annum goes straight through to the bottom line. The life of mine extends because there is 30% more contained gold. It’s all optimised to money and NPV.”

It is fairly obvious there have been material increases in the NPVs and IRRs, although Child doesn’t quote numbers.

All of which sets Condor up nicely for the ongoing sales process, which the company has initiated and is likely to take 4 to 6 months.

It’s not a given that the company will be sold, but Child has always emphasised that he and his team are not developers.

And having sent out teaser documents soliciting declarations of interest, the Takeover Panel has declared the company to be in an Offer Period.

So be it.

Child doesn’t deny that the company’s for sale.

Indeed, at this point in time a sale is the outright preference compared to some of the other potential scenarios under which La India might get built such as a joint venture or a potentially dilutive equity raise.

“Our focus is on selling the company,” he says. “But there are a number of potential outcomes. We always said we’d probably sell, but we’re not desperate to sell.”

Indeed, there’s money in the bank, and a renewed confidence in the quality of the asset following the Whittle study.

That speaks of a certain strength in depth, especially considering that a number of confidentiality agreements are already in place and a major shareholder has recently topped up its stake.

What happens over the course of the next few months is likely to be very interesting indeed.

]]>
Tue, 27 Oct 2015 09:30:00 -0400 http://www.proactiveinvestors.com/companies/news/116689/whittle-optimisation-study-works-wonders-at-condor-golds-la-india-project-116689.html
<![CDATA[Media files - Condor Gold’s latest study shows La India upside, says CEO Mark Child ]]> http://www.proactiveinvestors.com/companies/stocktube/4284/condor-golds-latest-study-shows-la-india-upside-says-ceo-mark-child-4284.html Tue, 20 Oct 2015 12:18:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/4284/condor-golds-latest-study-shows-la-india-upside-says-ceo-mark-child-4284.html <![CDATA[News - UDATE - Optimisation study underlines La India's versatility says Condor Gold ]]> http://www.proactiveinvestors.com/companies/news/116401/udate-optimisation-study-underlines-la-india-s-versatility-says-condor-gold-116401.html -- adds detail, share price --

An optimisation study of Condor’s Gold’s (LON:CNR) La India project in Nicaragua has substantially boosted the amount of gold expected to be mined in the early stages.

Consultant Whittle undertook the study to boost the early cashflows from the project and it estimates annual production could range from between 91,000oz to 165,000 oz gold in the first five years, a 22% increase.

Mark Child, chief executive, said it was a very positive outcome from the study. Indicated gold ounces within the main La India pit also rise by 29% to 866,000 oz as it pushes deeper.

Whittle specialises in work on pit shells to maximise how much can be extracted economically and has worked on numerous projects in Australia and elsewhere.

Its study showed that contained gold within the pit shells also rises 29% to 1,066k oz gold for the main pit and feeder pits.

All in sustaining cash costs remain under US$700 per oz gold, while recovered gold over life of mine ranges from 796,000 oz to 1,437,000 oz gold.

The two to three year payback period also highlighted the outstanding economics and versatility of La India, Child said. 

The company recently started a strategic review of its business, which may involve its sale.

Child said one of the reasons it undertook the study was to show any interested parties the upside potential of the firm and its assets.

Shares rose 5% to 44.5p.

]]>
Tue, 20 Oct 2015 08:20:00 -0400 http://www.proactiveinvestors.com/companies/news/116401/udate-optimisation-study-underlines-la-india-s-versatility-says-condor-gold-116401.html
<![CDATA[RNS press release - Whittle Optimisation Study ]]> http://www.proactiveinvestors.com/companies/rns/151020cnr7465c/ Tue, 20 Oct 2015 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/151020cnr7465c/ <![CDATA[RNS press release - Structural Geology Study ]]> http://www.proactiveinvestors.com/companies/rns/150915cnr0077z/ Tue, 15 Sep 2015 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/150915cnr0077z/ <![CDATA[RNS press release - Form 8 (OPD) (Amended- Condor Gold Plc) ]]> http://www.proactiveinvestors.com/companies/rns/150910cnr7313y/ Thu, 10 Sep 2015 15:31:00 -0400 http://www.proactiveinvestors.com/companies/rns/150910cnr7313y/ <![CDATA[RNS press release - Interim Results ]]> http://www.proactiveinvestors.com/companies/rns/150909cnr4604y/ Wed, 09 Sep 2015 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/150909cnr4604y/ <![CDATA[RNS press release - Form 8 (OPD) Condor Gold Plc ]]> http://www.proactiveinvestors.com/companies/rns/150908cnr3440y/ Tue, 08 Sep 2015 07:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/150908cnr3440y/ <![CDATA[RNS press release - Strategic review and commencement of offer period ]]> http://www.proactiveinvestors.com/companies/rns/150904cnr1978y/ Fri, 04 Sep 2015 18:00:00 -0400 http://www.proactiveinvestors.com/companies/rns/150904cnr1978y/ <![CDATA[Media files - Condor Gold boss outlines next steps after latest La India soil sampling ]]> http://www.proactiveinvestors.com/companies/stocktube/4070/condor-gold-boss-outlines-next-steps-after-latest-la-india-soil-sampling-4070.html Tue, 18 Aug 2015 16:09:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/4070/condor-gold-boss-outlines-next-steps-after-latest-la-india-soil-sampling-4070.html