LONDON (Alliance News) - Condor Gold PLC Wednesday said the pre-feasibility study and pre-economic assessment for the La india Project in Nicaragua has been delayed due to an expansion to the studies.
The company said the scope of work for the preliminary economic assessment was expanded to include two further scenarios.
Due to the decision to widen the scope, Condor said the pre-feasibility study and the pre-economic assessment would both be delayed, having originally been targeted for release at the end of September.
The delay has meant that the company has been unable to get quotations from potential suppliers of capital equipment to the La India site, along with operating services in Mexico and Central America.
Condor reiterated its view that La India will be an economically-viable project.
Condor shares were down 1.6% to 88.6 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Condor Gold (CNR)