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Condor Blanco Mines conserves cash

Last updated: 06:01 02 Feb 2015 EST, First published: 07:01 02 Feb 2015 EST

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Condor Blanco Mines (ASX:CDB) has gone into cash conservation mode in the face of the difficult environment for junior miners. 

Payments on its Marianas iron ore project have been delayed due to the slump in the price of the commodity and won’t resume until conditions improve.

Condor Blanco is also seeking to reduce the option fees at its tenements at Carachapampa and Gold Iron in Chile.

Elsewhere, an assessment of the profitability of any future mining at Uludere zinc/lead project in Turkey has been drafted and a cash flow assessment is underway.

Condor Blanco met its commitments at Uludere at the end of 2014 when it completed four trial pits at the south east Turkey prospect.

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