Condor Gold is listed on the AIM market of the London Stock Exchange and the Toronto Stock Exchange. The Company has the key Permit to construct and operate a 2,800tpd mine producing approximately 100,000 oz gold per annum from la India open pit. Condor is currently permitting 2 high grade feeder pits that can increase production by 50% compared to the PFS. The Company is currently completing all engineering studies to make the Project “shovel ready” and break ground at the end of the year. The Company is running a number of mining scenarios ahead of a construction decision, including a minimum capex, maximum cashflow scenario.
Condor Gold currently has a high-grade gold mineral resource of 2.33M oz gold at 4.0g/t gold, which contains an economic probably mineral reserve of 6.9 million tonnes at 3.0 grammes per tonne gold for 675,000 ounces gold. The high grade means the breakeven all in sustaining cash costs are low at US$700 per oz gold. The internal rate of return is approximately 31%. A second part of the strategy is to prove a 5M oz gold district.
Permitting two high grade satellite feeder pits containing 230,000 oz gold at 5.5g/t gold will increase production to 120,000 oz gold per annum for years
Near term cash flow opportunity of mining a “mini pit” within the permitted pit and trucking the ore to nearby processing plants
Proving a 5M oz Gold District on La India Project via additional drilling