New report Nicaragua-focused miner Condor Gold has disclosed the findings of a technical report on the company’s La India gold project, out-lining two scenarios for the investment.
"The strategic study covers two scenarios: Scenario A, in which the min-ing is undertaken from four open pits, termed La India, America, Mestiza and Central Breccia Zone (“CBZ”), which targets a plant feed rate of 1.225 million tonnes per annum (“Mtpa”); and Scenario B, where the mining is extended to include three underground operations at La India, America and Mestiza, in which the processing rate is increased to 1.4 Mtpa," the miner said in a statement.
Mark Child, the chairman and chief executive of Condor Gold, commented that the "highlight of the technical study is a post-tax, post upfront capital expenditure NPV of US$418 million … with average annual production of 150,000 oz gold per annum for the initial 9 years of gold production."