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LONDON (Alliance News) - Condor Gold PLC on Thursday said its pretax loss narrowed marginally in 2015 as it continues work on its La India project in Nicaragua.
Condor said its 2015 pretax loss narrowed to GBP3.1 million from GBP3.3 million a year earlier, entirely down to a reduction in administrative costs. The company does not generate any revenue.
The company said the majority of 2015 was spent working on de-risking its La India project, including the submission of environmental assessments for the project, along with developing a land acquisition policy to acquire space for the project's infrastructure.
For 2016, Condor's focus will remain on La India, including obtaining permits for a processing plant on the site and the acquisition of surface rights to the rural land.
Condor shares were down 0.7% to 58.60 pence Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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