Condor concluded, however, that it is in the best interests of the company and all stakeholders to offload its assets, and it has hired Hannam and Partners to assist with the sale.
The company completed in October a definitive feasibility study for La India, which confirmed the plan to build a mine in two stages, with two additional permitted high-grade feeder pits that can be added during the early years of production.
The study also demonstrates La India has the capacity to produce an average of 81,524 ounces gold per annum for the initial 6 years of its 8.4 year mine life at a relatively low total upfront capital cost of $106 million, chief executive Mark Child said.
The two additional feeder pits can boost early production to over 100,000 ounces gold a year, with a stage 2 expansion to 150,000 ounces of gold per annum, he said.
Condor Gold staked…
