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La India open pit has lower quartile industry all-in-sustaining-cash cost of US$690 per oz gold in the PFS which used a gold price of $1,250/oz. (See RNS 14 November, 2014). A third permitted open pit adds flexibility to the mine schedule. The diluted and modified mining model for the America open pit, undertaken by SRK Consulting (UK) Limited ("SRK"), reported a total diluted tonnage of 649Kt at 3.83 g/t gold for 80,000 oz gold within the 1,500 USD/oz optimized pit shell used in the 2019 Mineral Resource Estimate update. A cut-off grade of 1.5g/t gold was used. (See RNS 4 March 2020).
The America open pit is located within easy trucking distance and less than 2 km from the location of the permitted processing plant.
The Permit granted by MARENA for the Mestiza open pit is for an initial 8 year period from the date notification is received by MARENA that production is due to commence and can be renewed for further periods.
The diluted and modified mining model for the permitted La India open pit, undertaken internally by Condor, reports a total diluted tonnage of 7,284Kt at 2.80g/t gold for 656,000 oz gold, excluding low grade material.
The total permitted mill feed combining La India, Mestiza and America open pits is 8,829Kt at 3.09g/t gold for 847,000 oz gold.
Assuming a 92% metallurgical recovery, gold production is estimated to be 779,000 oz gold.
At $1900 POG, recovered gold from open pit min8)g will be valued at about $1.5 billion US at a very low AISC.
An equal amount of gold can then be mined below these three open pits.
Massive upside for investors like me who can be patient