LONDON (Alliance News) - Condor Gold PLC on Tuesday said the optimisation study carried out at the La India project in Nicaragua has boosted the economics of the project.
Condor said the study, carried out by Whittle Consulting Ltd, showed an increase in the average gold production from the site in the first five years of 22%, along with a 29% increase in contained gold in the indicated resource estimate.
The model from Whittle showed payback improves to two to three production years across three production scenarios.
Shares in Condor were up 8.2% at 46.00 pence Tuesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Condor Gold (CNR)