Condor Gold CEO Mark Child Provides Comprehensive Update on La India Project in Nicaragua
--News Direct--
Condor Gold CEO Mark Child joined Steve Darling from Proactive to offer a detailed update on the La India project in Nicaragua. The company holds full ownership of the project, which boasts 2.4 million ounces of high-grade gold, evenly distributed between open-pit and underground resources. Notably, about half of the resource is categorized as indicated, with the open-pit section carrying a probable mineral reserve of over 600,000 ounces.
With a vast land package spanning 580 km², Condor Gold sees significant exploration potential. The project is poised for development, having secured necessary permits, purchased surface rights, and completed preliminary site clearing. Moreover, the current surge in gold prices, far exceeding the $1,600 per ounce utilized in the feasibility study, enhances the project's value, potentially leading to substantial increases in EBITDA and NPV.
Highlighting its strategic initiatives, Condor Gold is divesting some assets, with eight companies under NDA and three site visits already conducted. Advanced discussions are ongoing with a gold producer and two other interested parties, aimed at bringing in an adept mine builder to maximize shareholder value and benefit the local community.
Moreover, Condor Gold underscores its dedication to environmental, social, and governance (ESG) standards. The company is deeply engaged with the community, undertaking initiatives such as water purification projects and programs for youth and the elderly, aligning with its commitment to responsible and sustainable operations.
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