| Announcement Date: | 2022-09-12 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Condor Gold Plc |
| Project name: | La India |
| Location: | Nicaragua |
| Commodities: | Gold,Silver |
| Highlight: | Feasibility Study result incl. Post Tax NPV (5%) of USD $86.89M & IRR of 23.1% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Condor Gold (AIM: CNR; TSX: COG) is pleased to announce the results and details of a Feasibility Study, sometimes referred to as a Bankable Feasibility Study (“2022 FS”) on the La India open pit. The 2022 FS supports a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold and a mine with an Internal Rate of Return (“IRR”) of 23% and a post tax and post upfront capital cost net present value (“NPV”) of US$86.9 million using a discount rate of 5% and price of US$1,600/oz gold. The 2022 FS brings the level of confidence for the Project to the industry standard of engineering design, sufficient to support +/- 15% capital and operating cost estimates. The economic analysis in the 2022 FS (including IRR and NPV estimates) is based on the La India open pit only and does not include the Mineral Resources at the Mestiza, America, Central Breccia or El Cacao potential extractable as open pits or the Underground Mineral Resources at the La India, Mestiza, America, El Cacao, San Lucas or Cristalito-Tatescame vein sets. Condor believes there is high degree of certainty that additional open pit and underground Mineral Resources can be converted to Mineral Reserves and added to the mine plan through further studies. |
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