Condor Gold

Website: www.condorgold.com
Primary ticker: AIM:CNR, TSX:COG
Stage of development: Exploration
Primary minerals: Gold
Project to promote: La India Project

Live financials

Condor Gold is Dual listed on the AIM market of the London Stock Exchange and the Toronto Stock Exchange. In July 2018 the Company was granted the key Permit to Construct and operate a 2,800tpd mine. The strategy is to construct a base case processing plant producing approximately 100,000 oz gold per annum and prove a major gold district of 5 million oz gold at La India Project, Nicaragua.

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 3.0 grammes per tonne gold for 675,000 ounces gold. The all in sustaining cash costs are low at US$700 per oz gold.

Management Profile

Mark Child, Chairman & CEO 

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. He joined Condor’s Board in May 2006 and became CEO in July 2011. He acquired the concessions that comprise La India Project and has raised the finance and developed the Project into what it is today.

Mr Child has 20 years of equity capital markets experience, as an institutional stockbroker and in corporate finance/private equity, mainly in emerging markets. At board level Mr. Child has been an executive director of Hong Kong listed Regent Pacific Group, an emerging market fund manager and private equity group, which spun off Charlemagne Capital Limited. He has board level experience of AIM listed and private companies.


What is your rationale for attending 121 Mining Investment?

Meet institutional investors


What recent news would you like to highlight to investors attending?

La India Project 2.4M oz gold resource including a 675k oz mineral reserve.
• Attractive economics IRR of 31% and AISC US$690 oz gold,
• Cheap valuation of 0.15 times NPV and US$12 per oz gold in the ground
• Fully permitted to construct and operate a 2,800tpd processing plant
• PFS produced 80,000 oz gold p.a expanding to 120,000 oz gold p.a
• Proving a 5M oz gold District


What are your key goals for the next 3, 6 and 12 months?

3 Months:

continue to de-risk the project. Buy all the land for the mine site infrastructure and continue with completion of engineer studies to get the project “Shovel Ready”
submit application to permit 2 feeder pits containing 230k oz gold at 5.5g/t gold

6 Months:

continue to de-risk the project. Buy all the land for the mine site infrastructure and continue with completion of engineer studies to get the project “Shovel Ready”.
Aim for 2 feeder pits containing 230k oz gold at 5.5g/t gold to be permitted, increase the mineral resource to approximately 1M oz gold permitted for extraction.

12 Months:

complete construction financing and commence construction.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

• Usual challenges in an emerging market


What do you think makes your company such a compelling investment?

La India Project 2.4M oz gold resource including a 675k oz mineral reserve.
• Attractive economics IRR of 31% and AISC US$690 oz gold,
• Cheap valuation of 0.15 times NPV and US$12 per oz gold in the ground
• Fully permitted to construct and operate a 2,800tpd processing plant
• PFS produced 80,000 oz gold p.a expanding to 120,000 oz gold p.a
• Proving a 5M oz gold District