Ticker: LON: CNR
Project Stage: Exploration, Development
Condor Gold is listed on the AIM market, ticker CNR and the TSX ticker CNR. The Company has the key Environmental Permit to construct and operate a 2,800tpd mine producing approximately 100,000 oz gold per annum from la India open pit. Condor has recently permitted 2 high grade feeder pits and currently has 1.12M oz gold open pit mineral resource including a mineral reserve permitted for production. The 1.2M oz gold underground mineral resource could be permitted once in production.
The Company is currently completing all engineering studies to make the Project “shovel ready” and commenced site preparation in December 2020. The Company is running a number of mining scenarios ahead of a construction decision, including a minimum capex, maximum cashflow scenario. There are currently 2 drill rigs on site.
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.
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