Condor Gold
Primary ticker: AIM:CNR, TSX:COG
Stage of development: Exploration
Primary minerals: Gold
Project to promote: La India Project
Project location: Nicaragua
Website: www.condorgold.com
Condor Gold Plc (AIM: CNR; TSX: COG) has a “construction ready” gold mine with the key Environmental Permit to construct and operate a new mine. A sales process is being run to sell its 2.5Moz gold Project in Nicaragua.
Condor has a NI 43-101 Feasibility Study. The Probable Mineral Reserve produces 81,545 oz gold p.a for the first 6 years from the main open pit, AISC is US$1,039 per oz gold. Two additional permitted feeder pits increase production to 120,000 oz gold p.a. Adding the underground increases production to 150,000 oz gold for the initial 9 years.
Major shareholders:
Jim Mellon – 26.21%
Oracle Investments Ltd – 3.94%
Mark Child – 2.38%
Financials
Management Profile
Mark Child, CEO
Mr. Child became CEO in July 2011 and acquired La India Project. He has overseen all drilling, technical studies for a PFS and Feasibility Study, purchased all the land and a SAG Mill. He has led the Project to be fully permitted for construction and extraction and led all the financing.
Mr. Child was commissioned as an officer in the 2nd King Edward VII’s Own Gurkha Rifles and served in the British Army for 4 years. Mr Child has 20 years of equity capital markets experience. At board level Mr. Child has been an executive director and NED.
What is your rationale for taking part in 121 Mining Investment?
Condor is running a formal sales process. Interested in meeting potential buyers of the assets
What recent news would you like to highlight to investors attending?
Condor is running a formal sales process. Interested in meeting potential buyers of the assets
What are your key goals for the next 3, 6 and 12 months?
Sell the company or assets
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Politcal Risk
What do you think makes your company such a compelling investment?
The valuation. 90% discount to npv, 6 month payback
What are the top 3 key investor takeaways?
The project is a rare construction ready, fully permitted gold project with 150,000 oz gold p.a. 100% owned