LONDON (Alliance News) - Condor Gold PLC on Friday published the pre-feasibility study and updated economic assessments for the La India project in Nicaragua, with the positive results sending its shares up in early trade.
The company said the pre-feasibility study outlines a strong and economically-viable case for the project, with an internal rate of return of 22% and a post-tax net present value of USD92 million.
The study estimated average annual production from the La India open pit mine of 79,300 ounces of gold over the seven years of maximum production.
The two preliminary economic assessments under taken on La India also proved positive, Condor said.
Shares in the company were up 10.4% to 90 pence on Friday morning, making it one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Condor Gold (CNR)