Jim Mellon – 15.5%
Nicaragua Milling Company Ltd – 10.3%
Ross Beaty – 6.5%
Mark Child – 4.4%
Oracle Investments– 4.3%
Management Ownership – 20%
Condor Gold is listed on the London Stock Exchange and the Toronto Stock Exchange. The Company has the key Permit to construct and operate a 2,800tpd mine producing approximately 100,000 oz gold p.a from la India open pit. Condor is permitting 2 high grade feeder pits that can increase production by 50% compared to the PFS. The Company is currently completing all engineering studies to make the Project “shovel ready” and break ground at the end of the year. The Company is running a number of mining scenarios ahead of a construction decision, including a minimum capex, maximum cashflow scenario.
Mark Child, Chairman & CEO
Chairman 14 years, full time CEO 8 years, re-positioned Condor in Nicaragua in 2008. Versatile, entrepreneurial senior executive, 20 years finance prior to joining Condor. Raised US$60M via placements, overseen 60,000m drilling, PFS studies, successful permitted the mine, acquired 12 concessions totally 580 sq km.
What is your rationale for attending 121 Mining Investment?
Looking for equity investors.
What recent news would you like to highlight to investors attending?
The project is permitted and will break ground in Q4 2020.
What are your key goals for the next 3, 6 and 12 months?
Permit an additional 2 high grade feeder pits containing 230,000 oz gold at 5g.t gold for extraction.
Complete majority of engineering studies to make the project “shovel ready”.
What do you think makes your company such a compelling investment?
Low AISC US$690. 1M oz gold permitted for extraction.
Condor Gold is an AIM and TSX-listed exploration company, focused on developing and further proving a large commercial reserve on its 100%-owned La India Project in Nicaragua.
During August 2018, Condor received an Environmental Permit for the development, construction and operation of a processing plant with a capacity of up to 2,800 tonnes per day and associated mine site infrastructure at La India. The strategy is to construct a base-case processing plant producing approximately 100,000 oz gold annually and prove a major gold district of 5 million oz gold at La India.
Condor Gold currently has a high-grade gold mineral resource of 2.33M oz gold at 4.0g/t gold, which contains an economic probably mineral reserve of 6.9 million tonnes at 3.0g/t gold for 675,000 ounces gold. The all in sustaining cash costs (AISC) are low at US$700 per oz gold.
Following the grant of the Environmental Permit, the company’s objective is to progress the redesigned mine site infrastructure for the La India Open Pit to a bankable level of Feasibility Study. In addition, under the conditions of the Environmental Permit, the company has to submit to MARENA final engineered designs for several key components of the mine prior to construction. Subject to financing, completion of a BFS and completion of the final engineering designs, construction is expected to commence within 18 months of the grant of the Environmental Permit. The construction period is expected to take 18 to 24 months.
The current mineral resource estimate announced in January 2019 on the La India project area is prepared in accordance with NI 43-101 and comprises an indicated mineral resource of 9.85Mt at 3.6 g/t gold for 1.14M oz gold and 5.9 g/t for 1.88M oz silver and an inferred mineral resource of 8.48Mt at 4.3 g/t for 1.179 M oz gold and 8.2g/t for 1.201M oz silver, all contained within a 9km radius within the La India Project area.