Condor presents two scenarios for La India

Condor Gold, listed on Aim and the Toronto Stock Exchange, described two mining scenarios in an updated technical study for its La India project in Nicaragua, both of which produced strong economic results.
The culmination of the technical study, CEO Mark the child said Thursday, was an after-tax net present value (NPV) and after initial capital expenditure of $ 418 million, with an internal rate of return (IRR) of 54%, and a payback period of 12 months, assuming a gold price of $ 1,700 / oz.
In the first scenario, which involves surface and underground mining of 1.4 million tonnes per year, the capital expenditure will be $ 160 million, with underground development being funded from cash flow.
This scenario gives an average production of 150,000 oz / year over the first nine years of production. Over the 12-year mine life, 1.47 million ounces of gold will be mined at an all-inclusive sustaining cost (AISC) of $ 958 / oz.
âSurface mining schedules were optimized from the designed pits, resulting in the advancement of higher grade gold, resulting in an average annual production of 157,000 ounces of gold over the course of the first two years from surface materials and underground operations funded by cash flow, âChild said.
The La India open pit mine and feed pit scenario of 1.225 million tonnes per year has an IRR of 58% and a NPV of $ 302 million, at a discount rate of 5% and a gold price of $ 1,700 / oz. The initial capital expenditure is $ 153 million and the payback period is 12 months.
This scenario will produce an average of 120,000 oz / year over the first six years of production and 862,000 oz over a nine year mine life. AISC costs an average of $ 813 / oz.
Condor has open pit mineral resources of 8.58 million tonnes at 3.3 g / t gold for 903,000 oz of gold in the indicated grade and 1.90 million tonnes at 3.6 g / t gold per 220,000 oz of gold in the deemed grade, authorized for mining.
The 2021 Preliminary Economic Assessment, prepared by SRK Consulting, is the first update of the technical report since 2014.