Condor Gold

Primary ticker: LSE:CNR
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 are your key goals for the next 3, 6 and 12 months?

12 Months:

Generate sales through toll processing of ore & /or have indicated development / construction of gold production facility at La India.

Advance / complete permitting for satelite feeder pits to open the way to 120,000 oz gold per annum & annual production.

Continue successful strategy of expanding mineral resource by 1m oz gold and advance La India Project to Feasibility Study stage.

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

Successful and peaceful resolution of political and social unrest that beset Nicaragua between April & July 2018.

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

Permitting base case 80,000oz gold p.a. coupled with low valuation per oz of gold resource.