Thursday, April 15, 2021
Gold Mining News Hub
  • Home
  • Gold News
  • Gold Mining
  • industry
  • companies
  • price
  • Gold & Silver
  • Diamonds
Gold Mining News Hub
No Result
View All Result
Home Gold & Silver

Condor Gold on track to production at La India gold deposit

July 25, 2020
in Gold & Silver
2 min read
Condor Gold on track to production at La India gold deposit
Share on FacebookShare on Twitter


What does the company do?

 () is a specialist gold exploration and development company run by seasoned mining professional Mark Child. Also on the board are serial entrepreneurs Jim Mellon and Ian Stalker, who both bring a wealth of industry connections and expertise.

What does it own?

Condor’s principal asset is the La India Gold Project in Nicaragua, which has an existing resource totalling 2.3mln ounces of gold. Of that nearly 1.12M ounces has been modelled as open-pittable and is permitted for extraction.

The company also owns the Estrella, Rio Luno gold projects, also in Nicaragua.

How it’s doing

As of 30 June 2020, Condor had £7.5mln in the bank following a £6.6mln placing in May.

During the June quarter the company announced an extension to the permitting at its La India gold Project in Nicaragua, bringing high-grade feeder pits into the mine plan.

It is currently completing all engineering studies and getting the Project shovel ready by end 2020.

What the boss says: Mark Child, chief executive

“The [£6.6mln] placement proceeds will be used to advance the La India Project towards production. Condor has a high grade 1.12 million oz gold open pit mineral resource, including mineral reserves permitted for extraction from three open pits.

“A processing plant and associated mine site infrastructure is also permitted. The placement proceeds will be used to complete engineering and other technical studies, purchase land in and around the mine site infrastructure and place a deposit on a processing plant.

“Condor’s intention is to permit the 1.2 million oz gold underground mineral resource following the commencement of open-pit production and continue with exploration activity to demonstrate a five million oz gold district at La India Project,”

Video

What do the brokers think?

Broker SP Angel has valued Condor at US$122mln, allowing for completion and execution risk.

Condor Gold is developing the La India gold mine in Nicaragua within a large, relatively underexplored, licence area with a history of previous gold production dating from the 1930s to the mid-1980s.

Initial expectations are for the production of around 100,000 ounces per year of gold from open-pit mining of the main La India vein system, and nearby high-grade satellite mineralisation, the broker said.

Production at this level would place Condor Gold among the five largest gold producers on London’s AIM market.



Read More: Condor Gold on track to production at La India gold deposit

Tags: CondordepositGoldIndiaproductiontrack
Previous Post

Dow slides 182 points amid rising US-China tensions and halted tech rally |

Next Post

Gold prices hit another landmark, silver rates surge 15% in just 5 days

Related Posts

Galantas Gold restarts underground blasting at Omagh mine

Galantas Gold restarts underground blasting at Omagh mine

by Gold Mining News
April 15, 2021
0

What it does  ()(TSX:GAL) is a dual-listed company which owns a producing open pit gold mine near Omagh, County Tyrone,...

Oracle Power says “significant strides” made in Pakistan and Australia

Oracle Power says “significant strides” made in Pakistan and Australia

by Gold Mining News
April 14, 2021
0

The company predicts progress and 'high impact news flow' in the coming months.  () said it made “significant strides” in the...

Tharisa ups production, benefits from strong platinum group metals prices

Tharisa ups production, benefits from strong platinum group metals prices

by Gold Mining News
April 13, 2021
0

Tharisa has a long track record of successful PGM production from its South African projects () produced 35,000 ounces...

Highland Gold higher as it agrees to £1bn takeover deal

Highland Gold higher as it agrees to £1bn takeover deal

by Gold Mining News
July 31, 2020
0

Investors in line to cash in from the sale include Russian billionaire and Chelsea FC owner Roman Abramovich Highland...

Pan African Resources sees strong cashflows as gold price surges

Pan African Resources sees strong cashflows as gold price surges

by Gold Mining News
July 30, 2020
0

How it's doing Gold production increased by 4.1% in the year ended June 30 2020 to 179,575 ounces of gold up...

0 0 vote
Article Rating
Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Today Gold News

Sandstorm Gold: 2Q Earnings Snapshot

Sandstorm Gold: 2Q Earnings Snapshot

July 31, 2020
Landore raises £2.8mln for extensive new exploration programmes

Landore raises £2.8mln for extensive new exploration programmes

June 29, 2020

5 Stocks That Will BEAT the S&P 500 in the Next 6 Months

July 17, 2020
Tight silver market is only going to get worse – First Majestic Silver CEO

Tight silver market is only going to get worse – First Majestic Silver CEO

July 23, 2020
Anatomy of a winner: picking a coronavirus success stock

Anatomy of a winner: picking a coronavirus success stock

July 1, 2020

Gold News

Vaccine pause threatens to worsen ‘hesitancy’ problem
Gold News

Vaccine pause threatens to worsen ‘hesitancy’ problem

April 15, 2021
Tanzania’s new president comes out as firmly pro-business, and highlights
Gold News

Tanzania’s new president comes out as firmly pro-business, and highlights

April 15, 2021
Triumph Gold Provides Update on Exploration Activities Related to the Freegold
Gold News

Triumph Gold Provides Update on Exploration Activities Related to the Freegold

April 14, 2021
IronRidge Resources finds highest grade lithium so far at Ghana project
Gold News

IronRidge Resources finds highest grade lithium so far at Ghana project

April 14, 2021
Gold futures end higher after posting back-to-back declines
Gold News

Gold futures end higher after posting back-to-back declines

April 13, 2021
Vast Resources hires experienced processing manager for Baita Plai
Gold News

Vast Resources hires experienced processing manager for Baita Plai

April 13, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • CCPA
  • DMCA

© 2020 Goldminingnewshubb.com

No Result
View All Result
  • Home
  • Gold News
  • Gold Mining
  • industry
  • companies
  • price
  • Gold & Silver
  • Diamonds

© 2020 Goldminingnewshubb.com

wpDiscuz